ESDS Software Solution made a bumper opening on the stock market on Friday, listing at a premium to its IPO price. The stock opened at Rs 757.00 on the NSE which is a 76.45% rise from the IPO price of Rs 429.00. On the BSE, it began trading at Rs 746.30 per share which marks a 73.96% premium.
The IPO is entirely a fresh issue of equity shares aggregating up to Rs 720 crore and has a price band of Rs 408-429 per share.
The initial public offer of ESDS Software Solution received 135.88 times the subscription on the final day of bidding on Tuesday. The IPO received bids for 1,67,85,63,340 shares against 1,23,52,942 shares on offer, as per data available with the NSE.
The portion for qualified institutional buyers (QIBs) got subscribed 261.51 times, while the quota for non-institutional investors received 192.94 times subscription. The category for retail investors was subscribed 39.64 times.
The ESDS Software Solution IPO was subscribed 2.10 times on the first day of bidding on Friday.
About ESDS Software Solution
ESDS Software Solution, an AI-enabled cloud, managed services, data centre infrastructure and software solutions provider, on Thursday raised Rs 216 crore from anchor investors.
ESDS plans to utilise Rs 576 crore of the IPO proceeds to purchase and install cloud computing and other equipment and infrastructure for its data centres. The remaining funds will be used for general corporate purposes. At the upper end of the IPO price band, the market capitalisation of the company stands at around Rs 5,028 crore.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
