ESDS SOFTWARE SOLUTION LIMITED
About the company
ESDS Software Solution Ltd (ESDC), incorporated in 2005, is a leading managed cloud service and end-to-end multi-cloud solutions provider in India. The company offers integrated solutions to support enterprises in cloud adoption and digital transformation. Its core strength lies in delivering reliable, scalable, and secure cloud infrastructure.
The company’s offerings include Cloud Computing Infrastructure as a Service (IaaS) through its patented vertically auto-scalable platform, eNlight Cloud, along with Software as a Service (SaaS) and Managed Services. These solutions are designed to meet diverse enterprise and government requirements.
ESDS Software serves a wide range of industries such as BFSI, manufacturing, IT & ITES, telecom, real estate, pharmaceuticals, retail, and education across global markets. It operates three data centres in Navi Mumbai, Nashik, and Bengaluru, covering over 50,000 sq. ft. and connected via a 10 Gbps backbone network.
ESDS Software Solution delivered robust growth across all metrics from FY24 to FY26, with Total Revenue rising from ₹286.52 Crs to ₹472.21 Crs and Profit After Tax surging nearly eightfold from ₹15.84 Crs to ₹122.68 Crs. Profitability improved continuously as EBITDA margin expanded from 35.56% to nearly half of revenue at 49.60%, propelling EPS from ₹1.35 to ₹11.81. This strong earnings trajectory substantially strengthened the company's financial base, with Shareholders' Funds more than doubling from ₹226.51 Crs to ₹544.20 Crs over the period.
The promoters of ESDS Software Solution Limited are Mr. Piyush Prakashchandra Somani and Ms. Komal Piyush Somani. Mr. Piyush Prakashchandra Somani serves as the Promoter, Chairman and Managing Director of the Company, while Ms. Komal Piyush Somani is a Promoter and the Whole-time Director of the Company.
ESDS Software Solution Limited is making Fresh Issue for Sale of up to 1,67,83,216 shares having face value of Rs 1 each aggregating Rs 720 crs within the price band of Rs 408-429 per share. 58,74,126 shares offered to retail, while 25,17,483 shares offered to the Non-Institutional HNI category, 83,91,607 shares to QIBs, 50,34,964 shares to Anchor investors.
The shares will be listed on the BSE platform of Bombay Stock Exchange (BSE) and NSE platform of National Stock Exchange (NSE).
Key metrics
Subscription status by category
Strengths & risks
Strengths / Operational Highlights
ESDS Software Solution Limited – Governance for Growth
Experienced Leadership Driving Strategic Growth: ESDS Software Solution Limited is led by its Promoters, Piyush Prakashchandra Somani (Chairman & Managing Director) and Komal Piyush Somani (Whole-time Director), who are actively involved in strategic decision-making and day-to-day operations. Their combined leadership and management oversight enable focused execution, operational stability, and sustained growth of the company.
Integrated End-to-End Cloud & Managed Services Business Model – ESDS Software Solution Limited follows a vertically integrated, end-to-end cloud and managed services business model, enabling full operational control across data centres, cloud infrastructure, managed services, and SaaS offerings. This integration improves cost efficiency through optimized resource utilization, pay-per-use pricing, and reduced dependency on third-party infrastructure while ensuring scalability, security, and reliability for customers.
Customer-Centric, Scalable Growth-Focused Strategy ESDS Software Solution Limited’s business strategy is focused on being a one-stop partner for cloud adoption by offering integrated, scalable cloud solutions supported by innovative billing models. Its experienced management team and strong market position enable sustainable growth through customer retention, cross-selling, and expansion across multiple service layers.
Post the Public ESDS Software Solution Limited long-term growth ESDS Software Solution Limited’s long-term growth plan focuses on scaling cloud and data centre infrastructure while embedding AI/ML-driven automation to enhance operational efficiency, customer experience, and industry-specific solutions. This is complemented by deepening government and enterprise partnerships and transitioning to 100% renewable energy, enabling sustainable, cost-efficient, and future-ready growth.
Risks
ESDS Software Solution Limited operates in a highly competitive cloud and data center services market with strong domestic players, which may exert pressure on pricing, margins, and customer retention. Failure to continuously differentiate through technology, pricing innovation, and service quality could adversely impact its business performance, financial condition, and cash flows.
Financial snapshot
Anchor investor allocation
PROMINENT INSTITUTIONAL/DOMESTIC INVESTORS MOTILAL OSWAL DIGITAL INDIA FUND, MOTILAL OSWAL CONTRA FUND, BANDHAN FOCUSED FUND, BANDHAN SMALL CAP FUND, QSIF HYBRID LONG-SHORT FUND, QSIF ACTIVE ASSET ALLOCATOR, LONG-SHORT FUND, ITI LARGE & MIDCAP FUND, ITI LARGE CAP FUND, ITI BALANCED ADVANTAGE FUND, ITI BHARAT CONSUMPTION FUND, ITI BUSINESS CYCLE FUND, JM FLEXICAP FUND, BAJAJ GENERAL INSURANCE LTD.-POLICYHOLDERS EQUITY, BAJAJ GENERAL INSURANCE LTD.-SHAREHOLDERS EQUITY, SAMCO SMALL CAP FUND, SANSHI FUND-I, MERU INVESTMENT FUND PCC-CELL 1, COGNIZANT CAPITAL DYNAMIC OPPORTUNITIES FUND, AND CP CAPITAL LTD HAVE SUBSCRSIBED TO ANCHOR BOOK ESDS SOFTWARE SOLUTION LIMITED COMPANY'S 50,34,964 SHARES.
Strengths & risks
Strengths / Operational Highlights
ESDS Software Solution Limited – Governance for Growth
Experienced Leadership Driving Strategic Growth: ESDS Software Solution Limited is led by its Promoters, Piyush Prakashchandra Somani (Chairman & Managing Director) and Komal Piyush Somani (Whole-time Director), who are actively involved in strategic decision-making and day-to-day operations. Their combined leadership and management oversight enable focused execution, operational stability, and sustained growth of the company.
Integrated End-to-End Cloud & Managed Services Business Model – ESDS Software Solution Limited follows a vertically integrated, end-to-end cloud and managed services business model, enabling full operational control across data centres, cloud infrastructure, managed services, and SaaS offerings. This integration improves cost efficiency through optimized resource utilization, pay-per-use pricing, and reduced dependency on third-party infrastructure while ensuring scalability, security, and reliability for customers.
Customer-Centric, Scalable Growth-Focused Strategy ESDS Software Solution Limited’s business strategy is focused on being a one-stop partner for cloud adoption by offering integrated, scalable cloud solutions supported by innovative billing models. Its experienced management team and strong market position enable sustainable growth through customer retention, cross-selling, and expansion across multiple service layers.
Post the Public ESDS Software Solution Limited long-term growth ESDS Software Solution Limited’s long-term growth plan focuses on scaling cloud and data centre infrastructure while embedding AI/ML-driven automation to enhance operational efficiency, customer experience, and industry-specific solutions. This is complemented by deepening government and enterprise partnerships and transitioning to 100% renewable energy, enabling sustainable, cost-efficient, and future-ready growth.
Risks
ESDS Software Solution Limited operates in a highly competitive cloud and data center services market with strong domestic players, which may exert pressure on pricing, margins, and customer retention. Failure to continuously differentiate through technology, pricing innovation, and service quality could adversely impact its business performance, financial condition, and cash flows.
Our verdict
Our View on This IPO
ESDS Software Solution Limited which is tapping the capital market, enjoys a strong track record of ramping up its turnover in the last two years & building strong business relationships with its domestic customers which has helped it significantly scale up its operations.
ESDS Software Solution Limited follows a vertically integrated, end-to-end cloud and managed services business model, enabling full operational control across data centres, cloud infrastructure, managed services, and SaaS offerings. This integration improves cost efficiency through optimized resource utilization, pay-per-use pricing, and reduced dependency on third-party infrastructure while ensuring scalability, security, and reliability for customers.
ESDS Software Solution Limited’s business strategy is focused on being a one-stop partner for cloud adoption by offering integrated, scalable cloud solutions supported by innovative billing models. Its experienced management team and strong market position enable sustainable growth through customer retention, cross-selling, and expansion across multiple service layers.
More importantly, ESDS Software Solution Limited promoters have significant industry experience and have been instrumental in the company's consistent growth. The management team's combined expertise and experience are also a significant asset going ahead
After the proposed IPO, the company’s net worth will total Rs 1264.19 crs crore as on date after the IPO, & post-IPO, the equity capital will stand at Rs 11.71 crore.
We are confident that ESDS Software Solution Limited will deliver consistent performance and provide a good investment opportunity for investors with a long-term horizon.
Hence, we recommend SUBSCRIBE for long-term investment.
Disclaimer
This document is meant for the recipient only for use as intended and not for circulation. This document
should not be reproduced or copied or made available to others. Recipients may not receive this report at
the same time as other recipients. The information contained herein is from the public domain or sources are
believed to be reliable. While reasonable care has been taken to ensure that information given is at the
time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of
research it cannot be warranted or represented that it is accurate or complete and it should not be relied
upon as such. In so far as this report includes current or historical information, it is believed to be
reliable, although its accuracy and completeness cannot be guaranteed. Opinions expressed are current
opinions as of the date appearing on this material only. While we endeavour to update on a reasonable basis,
the information discussed in this material, Mr Avinash Gorakshakar is under no obligation to update or keep
the information current. Further there may be regulatory, compliance, or other reasons that prevent me from
doing so. Prospective investors and others are cautioned that any forward-looking statements are not
predictions and may be subject to change without notice. Avinash Gorakshakar and any person connected with
it, will not in any way be responsible for the contents of this report or for any losses, costs, expenses,
charges, including notional losses/lost opportunities incurred by a recipient as a result of acting or
non-acting on any information/material contained in the report. This is not an offer to sell or a
solicitation to buy any securities or an attempt to influence the opinion or behaviour of investors or
recipients or provide any investment/tax advice. This report is for information only and has not been
prepared based on specific investment objectives. The securities discussed in this report may not be
suitable for all investors. Investors must make their own investment decision based on their own investment
objectives, goals and financial position and based on their own analysis. Trading in stocks, stock
derivatives, and other securities is inherently risky and the recipient agrees to assume complete and full
responsibility for the outcomes of all trading decisions that the recipient makes, including but not limited
to loss of capital. Opinions, projections and estimates in this report solely constitute the current
judgment of the author of this report as of the date of this report and do not in any way reflect the views
of Avinash Gorakshakar. The securities described herein may or may not be eligible for sale in all
jurisdictions or to certain category of investors. Persons in whose possession this document may come are
required to inform themselves of and to observe such restriction.
SEBI REGN NO. INH000001071