ESDS Software plans to raise Rs 1,300 cr via IPO

PTI | New Delhi | Updated: 02-09-2021 17:14 IST | Created: 02-09-2021 17:14 IST
ESDS Software plans to raise Rs 1,300 cr via IPO
  • Country:
  • India

Cloud services and data centre firm ESDS Software Solution is planning to raise Rs 1,200-1,300 crore through an initial share sale, market sources said on Thursday.

The company is likely to file preliminary papers with capital markets regulator Sebi this month for the initial public offering (IPO), they added.

The IPO may comprise the sale of equity shares through a primary and secondary offering.

Founded in 2005 by Piyush Somani, the digital transformation catalyst and enabler is present across APAC, Europe, the Middle East, the Americas and Africa.

Its business model is broadly classified into cloud services, data centre services and product R&D, and serves customers across BFSI, healthcare, education, energy & utilities, real estate, IT and ITeS, agriculture, manufacturing, entertainment & media, and e-commerce sectors.

Some of the company's customers include Small Industries Development Bank of India, Tata Capital, DCB Bank, Muthoot Group, Union Bank and SBI Capital Markets.

In 2015, CanBank Venture, the wholly-owned subsidiary of Canara Bank, had invested Rs 25 crore in Nashik-based ESDS Software Solution.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback