{
  "id": 4622490,
  "title": "ESDS Software Solution IPO Day 2, Issue Booked 7.49 Times As GMP Signals 78% Listing Gain",
  "url": "https://urgent.news/2026/08/31/esds-software-solution-ipo-day-2-issue-booked-7-49-times-as-gmp",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-31T09:35:42.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/esds-software-solution-ipo-day-2-issue-booked-749-times-as-gmp-signals-78-listing-gain"
  },
  "original_language": "en",
  "account": "Mumbai: The ESDS Software Solution IPO saw strong demand on its second subscription day, with a subscription rate of 7.49 times. Initial listings booked a volume of 2.10 times. The mainboard issue opened at Rs 720 crore, with 9,24,93,464 shares subscribed against 1,23,52,942 shares available for bidding. Non-institutional investors subscribed at a rate of 20.71, while retail investors secured 6.08 times of the shares offered. The Qualified Institutional Buyer (QIB) allocation was minimal, at 0.03 times. The Grey Market Premium (GMP) indicated a 78% potential listing gain, based on an estimated price of Rs 764 per share, assuming the upper price band of Rs 429. Analysts and brokerage firms have taken a long-term view on the IPO, citing its growth prospects and substantial artificial intelligence business as potential expansion drivers. However, analysts warned that customer concentration, stiff competition, and rapid technological changes pose risks. The IPO, a fresh issue, will be utilized to fund ESDS' data center infrastructure development and general corporate purposes. The price range for the shares is set at Rs 408–Rs 429, with allocations to QIBs, NII, and retail investors. ESDS, headquartered in Navi Mumbai, offers cloud, managed services, data center infrastructure, and AI-as-a-Service solutions. Founded in 2005, the company is a leading provider of GPU-as-a-Service.",
  "summary": "Mumbai: The ESDS Software Solution IPO was subscribed 7.49 times on the second day of bidding. Demand strengthened compared with its opening-day subscription level. The Rs 720-crore mainboard issue opened on Friday and was booked 2.10 times on the first day. Bidding will close on Tuesday, September 1. According to BSE data, the company received bids for 9,24,93,464 shares against 1,23,52,942…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}