ESDS IPO Subscribed 42.7X On Day 3, NII Portion Booked 126X
Enterprise cloud and AI company ESDS Software Solution’s IPO was subscribed 42.72X by 12:33 IST today, the third and final…
ESDS Software Solution's IPO saw a remarkable 42.72X subscription on the third and final day of bidding, according to BSE data. Investors sought to purchase 52.77 Cr shares, far exceeding the 1.24 Cr shares available. Notably, Non-Institutional Investors (NIIs) led the demand, placing 33.27 Cr bids against a reserved 26.47 Lakh shares.
Within the NII category, the segment for bids exceeding ₹10 Lakh was subscribed 131.63X. Retail investors participated with 17.54 Cr bids for 61.76 Lakh shares available, resulting in a 28.4X subscription. The QIB (Qualified Institutional Buyer) category also experienced heightened activity, receiving 1.96 Cr bids for 35.29 Lakh shares, translating to a 5.54X subscription.
This marked a significant increase from the ₹120.8 Cr IPO, priced between ₹408 to ₹429 per share, which closed subscription today. ESDS, a Nashik-based company founded in 2005, offers cloud computing, data center, managed services, and AI-led digital solutions. This is the company's second IPO attempt; its first filing in September 2021 was not pursued.
ESDS aims to utilize the net proceeds for data center infrastructure and general corporate purposes.
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