Summary:
ESDS Software Solution IPO was subscribed 19.64 times on Day 2, driven by strong NII demand of 55.34 times and retail subscription of 15.41 times. QIB participation remained low at 0.26 times, leaving institutional bidding as the key factor to watch on the final day. The ₹720 crore IPO closes on September 1, with the company focused on cloud, AI, managed services and data centre infrastructure.
ESDS Software Solution, the AI-enabled cloud, managed services, and data centre infrastructure provider, saw subscription surge on Day 2 of its ₹720 crore mainboard IPO, with overall demand reaching 19.64 times as of the update on August 31, 2026.
IPO Details
| Detail | Information |
| Issue Size | ₹720 crore (entirely fresh issue, 1,67,83,216 shares) |
| Price Band | ₹408–₹429 per share |
| Lot Size | 34 shares |
| Minimum Investment (Retail) | ₹14,586 |
| Face Value | ₹1 per share |
| IPO Open Date | August 28, 2026 |
| IPO Close Date | September 1, 2026 |
| Registrar | MUFG Intime India Pvt Ltd |
| Book-Running Lead Managers | Dam Capital Advisors, Systematix Corporate Services |
Category-wise Breakdown on Day 2
| Category | Shares Offered/Reserved | Shares Bid For | Subscription (x) |
| Qualified Institutional Buyers (QIBs) | 35,29,412 | 9,01,782 | 0.26 |
| Non Institutional Investors | 26,47,059 | 14,64,92,808 | 55.34 |
| — NII (bids above ₹10 lakh) | 17,64,706 | 9,54,02,572 | 54.06 |
| — NII (bids ₹2–10 lakh) | 8,82,353 | 5,10,90,236 | 57.90 |
| Retail Individual Investors (RIIs) | 61,76,471 | 9,51,88,106 | 15.41 |
| Total | 1,23,52,942 | 24,25,80,798 | 19.64 |
Data as of 31-Aug-2026, 2:33 PM IST, sourced from NSE Consolidated Bid Details (nseindia.com).
ESDS Software Solution IPO - Day 2 Subscription Status
As of the update on August 31, 2026, the issue received bids for 24,25,80,798 shares against 1,23,52,942 shares on offer, taking overall subscription to 19.64 times. Non-Institutional Investors led the demand by a wide margin at 55.34 times, followed by Retail Individual Investors at 15.41 times, while Qualified Institutional Buyers remained well below full subscription at 0.26 times.
What Day 2 Numbers Indicate
Non-Institutional Investors leading demand at over 55 times, far ahead of QIBs at just 0.26 times, is consistent with the standard mainboard pattern where institutions hold back their bids until the final bidding session. Within the NII category, the ₹2–10 lakh bracket (57.90x) narrowly outpaced the above-₹10-lakh bracket (54.06x), pointing to broad-based, aggressive HNI participation across both brackets. Retail subscription crossing 15 times reflects strong individual investor appetite for a company positioned in India's growing cloud and data centre infrastructure space. With QIB bidding still well below 1x, institutional demand, which typically surges only in the closing hours of mainboard issues, will be the key factor determining the overall subscription level by close on September 1.
ESDS Software Solution IPO - Timetable
| Event | Date |
| Anchor Bid Date | August 27, 2026 |
| IPO Open Date | August 28, 2026 |
| IPO Close Date | September 1, 2026 |
| Allotment Finalisation | September 2, 2026 |
| Listing Date | September 4, 2026 |
| Listing Exchanges | BSE, NSE |
Should You Apply for ESDS Software Solution IPO?
Incorporated in August 2005, ESDS Software Solution is an AI-enabled provider of cloud, managed services, data centre infrastructure, and software solutions in India, serving customers across the BFSI, government, and enterprise segments. The company's offerings span Infrastructure-as-a-Service, Software-as-a-Service, cybersecurity, GPU-as-a-Service, and a comprehensive Security-as-a-Service framework enabling businesses to proactively manage threats and meet compliance requirements. The company plans to deploy ₹576 crore of the IPO proceeds toward purchasing and installing cloud computing equipment and other data centre infrastructure.
Investors considering the issue should weigh the company's positioning in India's expanding cloud and data centre infrastructure market and its long-term relationships with established banks and businesses against sector-specific risks such as capital intensity, rapid technology shifts, and intense competition from larger global cloud providers. As with any IPO, the decision should be based on individual risk appetite, investment horizon, and a review of the RHP rather than subscription numbers alone.
How to Apply for ESDS Software Solution IPO
Investors can apply for the ESDS Software Solution IPO through ASBA via their bank's net banking portal, via UPI-based ASBA through their stock broker's trading app, or offline by submitting a physical ASBA form through their broker. The minimum lot size is 34 shares, requiring a minimum investment of approximately ₹14,586 at the upper price band.
How to Check ESDS Software Solution IPO Subscription Status
How to check ESDS Software Solution IPO Subscription Status on NSE website
- Visit the NSE IPO issue information page (nseindia.com).
- Search for "ESDS Software Solution" or enter the symbol ESDS.
- Select "Consolidated Bid Details" from the dropdown to view category-wise subscription data.
- The page refreshes periodically to show live bidding figures during market hours.
How to check ESDS Software Solution IPO Subscription Status on BSE website
- Visit the BSE IPO page (bseindia.com).
- Navigate to the "Active IPO" or "IPO Bidding" section.
- Select "ESDS Software Solution Limited" from the list of active issues.
- View category-wise and overall subscription figures, updated through the bidding window.
How to check ESDS Software Solution IPO Subscription Status on Ventura?
Ventura clients can track real-time subscription status for the ESDS Software Solution IPO directly within the IPO section of the Ventura app or web platform, alongside category-wise bid data and allotment updates, without needing to switch between exchange websites.
IPO Subscription History
Previous Day Subscription
Subscription built up steadily over the first three days of bidding, with retail and NII demand growing meaningfully while QIB bidding remained largely on the sidelines, setting up the sharp Day 2 pickup in NII participation.
Conclusion
ESDS Software Solution's IPO continues to build strong momentum heading into its final day, with overall subscription reaching 19.64 times on the back of overwhelming NII and solid retail participation. With bidding closing on September 1, institutional demand will be the key factor to watch, as QIB bidding typically sees a sharp final-day surge in mainboard issues.
