The Rs 720 crore initial public offering of ESDS Software Solution has drawn strong investor interest on its first day of subscription. The IPO’s grey market premium has surged to Rs 372, pointing to an 86 percent listing gain. A single lot could yield a profit of Rs 12,648 at current grey market levels.
IPO Subscription Details
The ESDS Software IPO was fully subscribed within hours of opening on day one. The overall subscription reached 2.21 times across all categories. Retail investors led the charge with 2.84 times subscription. The NII category was booked 3.70 times, reflecting strong high-net-worth interest. The QIB portion received only 0.01 times subscription so far.
Price Band and Lot Size
The IPO price band is set between Rs 408 and Rs 429 per equity share. Each lot comprises 34 shares, requiring a minimum investment of Rs 14,586. At the current GMP of Rs 372, each lot could deliver a listing day profit of Rs 12,648 for investors who get allotment.
IPO Timeline and Anchor Round
The IPO opened for public subscription on August 28 and will remain open until September 1. Anchor investors got access a day earlier on August 27. The company raised Rs 216 crore from anchor investors through that round before the public issue opened.
Fund Utilization Plan
The entire IPO consists of a fresh issue of 1.68 crore shares with no offer-for-sale component. The company plans to use Rs 576 crore from the proceeds for equipment purchases and infrastructure development. The remaining funds will be used for general corporate purposes.
Shareholding Structure
The promoter and promoter group currently hold 46.06 percent stake in the company. Post-IPO, their holding will come down to 39.47 percent. Public shareholding will rise from 53.04 percent to 60.53 percent after the issue. DAM Capital Advisors Ltd has been appointed as the lead manager for the IPO. MUFG Intime India is the registrar for the issue.
