ESDS Software shares hit upper circuit 2nd day after debut
Business
ESDS Software Solutions is having a moment. Its shares just hit the 20% upper circuit for the second day straight, trading at ₹1,090.05 and pushing its market value to ₹12,776.6 crore.
The company made a splashy debut on September 4, listed at ₹757 on the NSE, a huge leap from its issue price of ₹429 per share.
ESDS IPO oversubscribed 135.88 times
Their IPO was crazy popular, getting oversubscribed 135.88 times and raising ₹720 crore. Most of that money is going toward upgrading their cloud computing and data center tech.
Plus, they locked in ₹216 crore from big anchor investors before even going public.
With a focus on AI-powered cloud services and managed software solutions, ESDS seems to have really caught investors' attention right out of the gate.