Maithan Alloys Limited acquired a 0.01% stake in ESDS Software Solution Limited for ₹1.90 crore on September 21, 2026. The transaction involved the purchase of 11,730 equity shares through the stock exchange, classified as an investment for long-term and short-term benefits.

The company clarified that it does not intend to acquire control or management influence over ESDS Software Solution. The acquisition was executed at arm's length, with no related party transactions involved, and no governmental or regulatory approvals were required for the completion of the deal.

Target entity financials

ESDS Software Solution Limited is an AI-enabled end-to-end IT service provider specializing in data center, cloud, colocation, and managed services. The company serves sectors including BFSI, government, healthcare, and manufacturing. Its financial performance over the last three fiscal years demonstrates consistent growth in turnover.

What the numbers show

ESDS Software Solution’s turnover expanded from ₹281 crore in FY24 to ₹378 crore in FY26, reflecting a significant upward trajectory in revenue generation. With a reported net worth of ₹520 crore and PAT of ₹62 crore, the target entity maintains a healthy balance sheet relative to its profit margins. The acquisition cost of ₹1.90 crore represents a minimal capital outlay for Maithan Alloys, indicating a passive investment strategy rather than a strategic operational integration.

Maithan Alloys acquired a 0.65% stake in ESDS Software Solution Limited through the stock exchange on September 10, 2026. The company purchased 760,548 equity shares for a total consideration of ₹113.37 crore, marking a significant addition to its investment portfolio rather than a strategic acquisition of control.

The transaction was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026. Maithan Alloys confirmed that the acquisition does not involve any related-party transactions and that the promoter group holds no interest in the target entity. The deal was executed at arm's length with cash consideration.

Investment Rationale

The company stated that the shares form part of its investment portfolio aimed at reaping long-term or short-term benefits. Maithan Alloys explicitly clarified that it does not intend to acquire control, whether directly or indirectly, over the management of ESDS Software Solution Limited.

Target Company Profile

ESDS Software Solution Limited operates in the IT-enabled services sector, providing AI-enabled end-to-end IT infrastructure solutions. Its offerings include data center, cloud, colocation, and managed services for governments, PSUs, BFSI institutions, and enterprises. The company has over two decades of experience in building and managing IT infrastructure, supporting workloads across banking, public services, manufacturing, healthcare, retail, energy, logistics, and other sectors.

Financial data for ESDS Software as of March 31, 2026, indicates a turnover of ₹378 crore and a net profit after tax (PAT) of ₹62 crore. The company’s net worth stood at ₹520 crore.

Revenue Trend

ESDS Software has shown consistent revenue growth over the past three fiscal years. Turnover rose from ₹281 crore in FY24 to ₹357 crore in FY25, before reaching ₹378 crore in FY26. This trajectory reflects steady expansion in its IT infrastructure business.

What the Numbers Show

The acquisition cost of ₹113.37 crore for 760,548 shares implies an average purchase price of approximately ₹149.06 per share. This represents a substantial increase in exposure compared to the earlier September 9 transaction, where Maithan Alloys acquired only 75,160 shares (0.06%) for ₹10.83 crore at an average price of approximately ₹144.15 per share. Given ESDS Software’s reported PAT of ₹62 crore for FY26, the combined stake remains a minority financial position relative to the target’s earnings capacity, aligning with Maithan Alloys’ stated objective of portfolio diversification rather than operational integration.