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ESDS Software Solution IPO Draws 143 Times, GMP Signals Gains
ESDS Software Solution asked investors to buy shares in its IPO.
The IPO was available from August 28 to September 1 at ₹429 per share.
Many investors applied, and the issue was subscribed nearly 143 times.
Institutional investors showed the strongest interest.
In the unofficial grey market, the shares were being valued ₹240 above the IPO price.
That suggested a possible listing price of about ₹669, but this was only an estimate.
The company plans to spend much of the money on cloud equipment and data-centre infrastructure.
The article gives conflicting listing dates, referring to both September 3 and September 4.
The ESDS Software Solution IPO was subscribed nearly 143 times by the end of its three-day subscription period.
The qualified institutional buyers portion was subscribed 274.97 times, followed by non-institutional investors at 202.87 times and retail investors at 41.68 times.
At a ₹429 issue price and a reported ₹240 grey market premium, the shares were estimated to list around ₹669, implying a potential 55.94% premium.
The ₹720 crore IPO consisted entirely of a fresh issue of 1.68 crore equity shares, with no offer-for-sale component.
The company plans to use ₹576 crore of the proceeds for cloud computing equipment and data-centre infrastructure.
- Who
- ESDS Software Solution Limited and investors who subscribed to its IPO.
- What
- A ₹720 crore IPO attracted nearly 143 times subscription, while grey market signals indicated a possible 55.94% listing premium.
- Where
- The shares are scheduled to list on the BSE and NSE.
- When
- The IPO was open from August 28 to September 1; allotment was finalized on September 2. The article mentions September 3 and September 4 as the listing date in different places.
- Why
- The company is raising funds mainly to purchase cloud computing equipment and strengthen its data-centre infrastructure.
Key facts
- Issue price
- ₹429 per share
- IPO size
- ₹720 crore
- Total subscription
- Nearly 143 times
- Grey market premium
- ₹240
- Estimated listing price
- Around ₹669 per share
- Fresh issue
- 1.68 crore equity shares
- Planned infrastructure spending
- ₹576 crore
- Minimum lot investment
- 34 shares, requiring ₹14,586
Sources
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