1 day ago
ESDS IPO Ends With 135.88X Oversubscription
ESDS Software Solution asked investors to buy shares in its IPO.
The company wanted to raise ₹720 crore.
The IPO was open for three days and received far more bids than shares available.
By the end, the IPO was subscribed 135.88 times.
Qualified institutional buyers showed their strongest interest on the final day.
Non-institutional investors also placed very large bids.
Retail investors subscribed to their reserved portion 39.68 times.
ESDS plans to use much of the money to expand equipment and infrastructure at its data centres.
ESDS Software Solution’s ₹720 crore IPO was subscribed 135.88 times by the end of its three-day bidding period.
QIBs placed bids for 92.30 crore shares against 35.29 lakh shares reserved, a 261.51-times subscription.
NIIs bid for 51.07 crore shares against 26.47 lakh reserved, resulting in 192.94-times subscription.
Retail investors bid for 24.48 crore shares against 61.76 lakh reserved, subscribing 39.68 times.
ESDS plans to use ₹576 crore of the IPO proceeds for cloud equipment and infrastructure at four existing data centres.
- Who
- ESDS Software Solution and investors in its IPO, including QIBs, NIIs and retail investors.
- What
- ESDS’s ₹720 crore IPO closed with 135.88-times overall oversubscription.
- Where
- The company is based in Nashik, with existing data centres in Airoli, Bengaluru, Mohali and Nashik.
- When
- The three-day bidding period ended on September 1; the shares were expected to list on September 4.
- Why
- ESDS plans to use ₹576 crore of the net proceeds to purchase and install cloud computing equipment and other data-centre infrastructure, with some funds for general corporate purposes.
Key facts
- IPO size
- ₹720 crore
- Price band
- ₹408–₹429 per share
- Final overall subscription
- 135.88 times
- Final QIB subscription
- 261.51 times
- Final NII subscription
- 192.94 times
- Final retail subscription
- 39.68 times
- Planned infrastructure spending
- ₹576 crore
- Anchor funding
- ₹216 crore raised from 19 entities at ₹429 per share
Sources
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