ESDS Software Solution

The Ticker Tales take

ESDS Software Solution is an AI-enabled IT services provider that runs data centres and offers cloud, colocation, managed services and GPU-as-a-service, mostly to government bodies, banks and large enterprises. The ₹720 Cr mainboard issue at ₹408–429 was entirely fresh shares, so all the money goes into the company rather than to existing owners. Worth knowing: a big slice of revenue comes from government customers and a handful of large clients. Bidding closed on 1 Sep with a huge book — 142.88× overall, institutions ~274.97×, wealthy investors ~202.87× and retail ~41.68×, from about 63 lakh applications. Our call was Strong Subscribe on an expected pop of roughly 90%. It listed on 4 Sep at ₹757 on NSE (+76.5%) and ₹746.30 on BSE (+74.0%), then kept climbing to close its first day at ₹908.40 — up 111.7% on the issue price. Applicants who held through day one more than doubled their money, and our ~90% read landed almost exactly on that day-one close. A clear hit.