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ESDS Software Solution IPO Review

ESDS Software Solution IPO has been reviewed by 9 analysts, and the overall consensus is Strong Apply — carrying a score of 97. Out of the 9 analysts who have covered this IPO, 8 recommend subscribing while 1 advises caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹408-429 per share, with a minimum application size of 34 shares (minimum investment of approximately ₹14,586 at the upper band). Subscription ran from 28 Aug 2026 to 01 Sep 2026. The issue size is ₹720 crore, entirely a fresh issue. As of now, the grey market premium (GMP) for ESDS Software Solution IPO is quoting at ₹247 (57.58%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
97/ 100
Strong Apply 8 of 9 recommend subscribing
How analysts voted
Apply 8
May apply 1
Not rated 2

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

ESDS Software Solution is an AI-enabled technology infrastructure company offering cloud, managed services, data centre infrastructure and software, built on its patented auto-scaling Swaraj platform. FY26 income was ₹480.65 crore with profit of ₹120.82 crore. All five analysts covering the issue said subscribe.

Listing gains

The notes value the issue between about 36.4 and 42 times FY26 earnings, on a market cap near ₹5,028 crore, comparing it with E2E Networks. Analysts describe that as reasonable against the peer given the growth on offer. With unanimous subscribe ratings, the coverage pointed to a positive listing.

Short-term strategy

Net revenue grew steadily from ₹287 crore in FY24 to ₹361 crore and then ₹472 crore in FY26. Assets nearly tripled to ₹1,937.90 crore as data centre capacity was built. One note points out the asset-light model still requires heavy investment in servers, GPUs and networking equipment.

Long-term strategy

Analysts recommend a long-term horizon, citing the patented Swaraj platform, an end-to-end offering that produces unusually loyal long-tenure customers, and an AI cloud infrastructure agreement that offsets concentration risk. The standing risk is competition from global hyperscalers, which could pressure pricing and raise customer acquisition costs.

How this is written: an AI-assisted summary of the 11 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for ESDS Software Solution IPO?

The analyst consensus for ESDS Software Solution IPO tracked on this page is Strong Apply, with a score of 97/100. Out of 9 analysts who have reviewed this IPO, 8 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 97 mean for ESDS Software Solution IPO?

The score of 97 is an aggregate of all analyst ratings tracked for ESDS Software Solution IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What was the actual listing price of ESDS Software Solution IPO?

ESDS Software Solution IPO listed on September 4, 2026 at ₹757, against the issue price of ₹429 — a gain of +76.46% (₹328 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of ESDS Software Solution IPO?

ESDS Software Solution IPO was priced at ₹408-429 per share. The minimum lot size is 34 shares, making the minimum investment approximately ₹14,586 at the upper end of the price band. Subscription ran from 28 Aug 2026 to 01 Sep 2026.

Explore ESDS Software Solution IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

ESDS Software Solution IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Strong Apply
Score
97 / 100
Listed at
₹757
Full IPO details