ESDS Software Solutions shares close ₹1,661.75, up 287% since IPO
Business
ESDS Software Solutions is having a serious moment. Its shares jumped again on Friday, closing at ₹1,661.75. That's six days of steady gains and a massive 287% leap from its IPO price of ₹429.
The stock made its NSE debut at ₹757, already showing off with a 76.5% premium.
ESDS IPO subscribed 136x, ₹576cr infrastructure
The ESDS IPO was a hot ticket, getting subscribed 136 times overall, especially by big institutional investors who went in at more than 261 times. Noninstitutional and retail investors weren't far behind either.
The company raised ₹216 crore from anchor investors and is putting ₹576 crore toward boosting its digital infrastructure, like cloud computing gear and expanding data centers to keep up with India's growing demand for cloud and cybersecurity services.