KuberGrow Team ESDS Software Solution, offering cloud infrastructure and data centre solutions, is trying to raise money on the capital markets for a second time through the initial public offering route with a ₹600 crore IPO. ESDS filed its draft papers with the Securities and Exchange Board of India (SEBI) on March 30, 2025, with the objective of raising funds solely through a new issue of equity but also ensured that ESC would get all the proceeds.
Headquartered in Maharashtra, ESDS Software offers cloud infrastructure as a service, managed services, data center solutions, and software solutions. The firm had attempted to list in 2021 for a new issue of ₹322 crore and an offer for sale of 2.15 crore shares by current promoters and investors. But owing to weak market conditions, the draft IPO was pulled in December 2021.
Prior to the IPO, the firm will raise ₹120 crore in the form of private placement, preferential allotment, or any other pre-IPO raising mechanism. Upon the completion of pre-IPO round, the issue size shall be correspondingly adjusted.
ESDS is one of a mere two Indian companies that have a comprehensive portfolio of cloud and data centre solutions, and it is the market leader in revenue in this category for FY24. The IPO proceeds will go mainly toward purchasing and activating cloud computing and data centre assets, with ₹480.7 crore going toward adding these assets and the remainder for general corporate usage.
The firm has shown good financial growth, and in FY24 it reported a net profit of ₹13.6 crore versus a loss of ₹22.5 crore in the earlier fiscal. It increased its revenues 38% to ₹286.5 crore over the same period. In the first half of FY25, ESDS has recorded a profit of ₹23.9 crore on revenues of ₹172.1 crore.
For handling the IPO, ESDS has appointed DAM Capital Advisors and Systematix Corporate Services as its merchant bankers.
