Khaitan & Co and Trilegal advised on ESDS Software Solution’s INR 7200 million IPO.
ESDS Software Solution Limited, a Nashik-based, AI-enabled provider of sovereign cloud, data centre infrastructure, managed IT services and software solutions, undertook an IPO comprising a fresh issue of 16,783,216 equity shares of face value INR 1 each, aggregating to INR 7,200 million (₹720 Cr).
The IPO was subscribed over 142.88 times overall, including roughly 275 times by QIBs, and ESDS shares subsequently made a strong listing debut on the stock exchanges. The IPO marked the listing of the first pure-play data centre player in India.
ESDS serves BFSI, government and enterprise customers across India, including customers in the healthcare, education, energy and utilities, real estate, IT and IT-enabled services, agriculture, manufacturing, entertainment and media sectors. The company offers AI-enabled cloud and GPU services and operates across data centre infrastructure, managed services and software solutions.
Khaitan & Co advised ESDS Software Solution.
The deal team included Abhimanyu Bhattacharya, Vijayaraghavan Raman, Arjun Kapur, Siddharth Jain, Sakshi Verma and Harshita Sharma.
Trilegal advised the Book Running Lead Managers, DAM Capital Advisors and Systematix Corporate Services.
The Capital Markets team advising on the mandate was led by Partner Abhinav Maker, and supported by Senior Associate Jayant Saxena, Associate Mrinal Kumar and Trainee Associate Nupur.
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