New Delhi: ESDS Software Solutions delivered a blockbuster stock market debut on Friday, September 4, listing at a premium of more than 76% before extending gains and hitting the upper circuit on both exchanges.
The ESDS Software Solutions share price opened at Rs 757 on the NSE, a 76.46% premium over its IPO issue price of Rs 429.
On the BSE, ESDS shares debuted at Rs 746.30, representing a listing premium of 73.96%.
ESDS Shares Hit Upper Circuit
Investor enthusiasm strengthened after the listing. ESDS shares surged to the upper circuit of Rs 908.40 on the NSE, marking a 111.75% gain over the issue price.
On the BSE, the stock jumped to its upper circuit of Rs 895.55, up 108.75% from the IPO price.
Following the rally, ESDS Software Solutions commanded a market valuation of Rs 10,647.44 crore on the NSE and Rs 10,496.83 crore on the BSE.
The strong debut came as Indian equities traded higher, with the Sensex jumping over 680 points and the Nifty advancing above 23,980.
ESDS IPO Saw Massive Demand
The ESDS Software Solutions IPO received overwhelming investor interest, with the Rs 720-crore issue subscribed 135.88 times on the final bidding day.
The IPO, priced between Rs 408 and Rs 429 per share, was entirely a fresh issue. ESDS had also raised Rs 216 crore from anchor investors.
The company plans to deploy Rs 576 crore towards cloud computing equipment and infrastructure for its data centres. The remaining proceeds will be used for general corporate purposes.
