ESDS Software Solution IPO Day 1: Subscription status, review

ESDS Software Solution IPO Day 1: Subscription status, review — here's what you need to know

3 min read | Published on 28 Aug 2026, 11:19 AM |Updated on 01 Sept 2026, 05:20 PM

Reviewed by

Ritika DScanX News Team

Add as a preferred
source on Google

Key Highlights

ESDS Software Solution IPO closed Day 1 with a 2.07x total subscription.
NII (bHNI) was the leading category with 5.68x subscription, surging 289.0% intraday.
Retail investors subscribed 2.65x, while QIB interest remained minimal at 0.01x.
The company reported ₹472.21 crore revenue and ₹120.82 crore profit in FY 2026.
IPO opens on August 28, 2026, and closes on September 1, 2026.

*this image is generated using AI for illustrative purposes only.

ESDS Software Solution IPO closed with a massive 135.66x overall subscription, driven by a historic QIB surge to 261.51x. The QIB category jumped +30665.9% intra-day, while NII (bHNI) reached 208.84x and Retail stood at 39.25x. The issue concluded on 01-09-2026.

Final Subscription Status

The IPO witnessed a dramatic intra-day spike in QIB interest, jumping from 0.85x to 261.51x (+30665.9%) on the final day. Total subscription rose from 31.99x at 11:15 AM to 135.66x by 17:15 PM. NII (bHNI) also gained momentum, moving from 91.87x to 160.76x.

Day	Date	QIB	NII (bHNI)	NII (sHNI)	Retail	Total
Day 1	28-08-2026	0.01x	5.68x	2.38x	2.65x	2.07x
Day 2	31-08-2026	0.26x	57.62x	53.82x	15.34x	19.55x
Day 3	01-09-2026	261.51x	160.76x	208.84x	39.25x	135.66x

Intra-day Timeline (01-09-2026)

Time (IST)	QIB	NII (bHNI)	Retail	Total
11:15	0.85x	91.87x	23.64x	31.99x
12:15	1.10x	106.11x	26.98x	38.23x
13:15	9.38x	120.40x	29.76x	46.52x
14:15	43.69x	134.55x	32.51x	62.37x
15:15	151.35x	149.60x	35.40x	99.61x
16:15	261.51x	159.50x	37.91x	134.89x
17:15	261.51x	160.76x	39.25x	135.66x

Category-wise Breakdown

NII investors dominated the early subscription, with bHNI reaching 160.76x and sHNI at 208.84x. The standout move was in the QIB category, which jumped +30665.9% intra-day to reach 261.51x. Retail investors showed steady conviction, ending at 39.25x. Employee category remained at 0x.

About the Company

ESDS Software Solution is an AI-enabled cloud, managed services, Data Centre infrastructure, and software solutions provider in India. Founded in 2005, it is one of only two players in India providing the entire spectrum of GPUaaS, cloud, managed services, data centre infrastructure, and software solutions. Led by MD Piyush Prakashchandra Somani and CEO Komal Piyush Somani, the company is the largest among its peers in terms of revenue from operations in Fiscal 2026.

Financial Highlights

Particulars	FY 2024	FY 2025	FY 2026
Revenue from Operations (₹ crores)	286.52	361.34	472.21
Total Profit (₹ crores)	13.61	55.61	120.82
Total Equity (₹ crores)	226.51	417.58	544.20

Revenue grew steadily from ₹286.52 crores in FY 2024 to ₹472.21 crores in FY 2026. Profitability improved significantly, with total profit rising to ₹120.82 crores in FY 2026 from ₹13.61 crores in FY 2024.

Objects of the Issue

Purchase and installation of cloud computing equipment and infrastructure for Relevant Data Centres: ₹576.00 crores
General corporate purposes including strategic initiatives, working capital, and repayment of borrowings: Balance Net Proceeds

Risk Factors

Technological Innovation and Infrastructure Obsolescence Risk: Rapid tech changes may render current infrastructure obsolete.
Government Revenue Dependency Risk: Government entities contributed 34.04% of revenue in FY 2024.
Customer Concentration Risk: Top 10 clients represented 45.36% of revenue in Fiscal 2026.

What's Next

The IPO closed on 2026-09-01. Investors should wait for the official allotment date announcement by the registrar. Listing date will be confirmed post-allotment. Basis of allotment will be determined based on the oversubscription levels in each category.