ESDS Software Solution Aims for Rs 600 Cr Public Debut in Second IPO Attempt

ESDS Software Solution Ltd is set to raise Rs 600 crore through an IPO, aiming to fund cloud computing infrastructure and other projects. This marks the company's second attempt to go public, with DAM Capital Advisors and Systematix Corporate Services as the book-running lead managers.

Cloud infrastructure and data center services provider, ESDS Software Solution Ltd, has filed preliminary documents with the Securities and Exchange Board of India (SEBI) to secure Rs 600 crore through an initial public offering (IPO).

The offering will be a fresh issue without any offer-for-sale component, according to the company's draft red herring prospectus filed on March 30. This marks ESDS's second attempt to go public following its initial IPO filing in September 2021.

Proceeds amounting to Rs 480.7 crore from the IPO are earmarked for the purchase and installation of cloud computing equipment and infrastructure for data centers, with the remaining funds designated for general corporate purposes.