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Information Technology
In a significant move that underscores the growing momentum in the Indian initial public offering (IPO) market, ESDS Software Solution has filed draft papers with the Securities and Exchange Board of India (SEBI) for a Rs 600 crore IPO. This development marks the company's second attempt to go public, reflecting its resilience and strategic commitment to growth in the cloud infrastructure and data centre services sector.
ESDS Software Solution is a prominent IT services company based in Nashik, Maharashtra, specializing in providing comprehensive cloud infrastructure, managed services, data centre infrastructure, and software solutions. Founded in 2005, the company has emerged as a leading player in India's cloud services market, noted for its innovative offerings such as community cloud services, which cater to organizations with similar business needs and regulatory requirements.
The ESDS Software Solution IPO is structured as a book-built issue, featuring a fresh issue of up to Rs 600 crore with no offer for sale (OFS) component. This approach ensures that the entire proceeds from the IPO will be utilized by the company to fuel its strategic plans, primarily focusing on:
ESDS Software Solution may also consider a pre-IPO placement of securities worth up to Rs 120 crore. If this placement is successfully completed, the company intends to reduce the size of its concurrent IPO by the same amount. This strategic move can help diversify the investor base and enhance liquidity before entering the public markets.
The IPO is being managed by seasoned merchant bankers DAM Capital Advisors and Systematix Corporate Services, who have been appointed as the book-running lead managers. The filing of the draft red herring prospectus (DRHP) with SEBI marks an essential step towards obtaining regulatory approval for the IPO. Once approved, the IPO will proceed to market, likely in August 2025, as indicated by industry insiders.
While the exact dates for the IPO's opening and closing are yet to be finalized, market observers anticipate that these will occur in August 2025. Following a successful subscription process, the allotment of shares is expected to be made in the same month, with the listing of the company's shares on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) to follow shortly after.
Key Details of the IPO:
In the six months ended September 30, 2024, ESDS Software Solution reported revenue from operations of Rs 172 crore, accompanied by a profit after tax of Rs 24 crore. For the full fiscal year 2024, the company saw its revenue increase by 38% to Rs 286.5 crore, with a notable turnaround from a loss of Rs 22.5 crore in the previous fiscal year to a profit of Rs 13.6 crore.
The decision by ESDS Software Solution to pursue an IPO reflects a broader trend in India's tech and IT services sector, where companies are increasingly leveraging public markets to raise capital and accelerate growth. This IPO comes at a time when cloud computing and data centre services are experiencing high demand globally, driven by businesses' need for scalable, secure, and efficient cloud solutions.
ESDS Software Solution's move to file for an IPO marks a significant milestone in its journey. The company's focus on enhancing its cloud infrastructure and data centre capabilities positions it well to capture a larger share of the rapidly growing cloud services market. As the Indian IPO market continues to gain momentum, investors are likely to look closely at opportunities like ESDS Software Solution, which offers a compelling growth story in a sector that is increasingly critical to global digital transformation efforts.
In conclusion, ESDS Software Solution's IPO filing is a testament to the company's commitment to innovation and expansion in the cloud services space. With its strong financial performance and strategic objectives, the company is poised to attract significant investor interest in the coming months. As the IPO landscape unfolds, ESDS Software Solution is set to emerge as a notable player in the Indian capital markets, offering investors a chance to participate in the growth of one of India's leading cloud and data centre services providers.
