Shares of ESDS Software and Priority Jewels are set for their stock market debuts on Friday, September 4, eyeing up to 51 per cent listing gains based on the current grey market trends.
ESDS Software Solutions IPO GMP
The offer received bids for 1.67 billion shares as against 12.35 million shares on offer, according to NSE data, resulting in 135.88 times bids. The qualified institutional buyer (QIB) quota was booked 261.51 times, while the non-institutional investor (NII) segment received 192.94 times subscription. Finally, the retail segment was subscribed 39.64 times.
The company is an AI-enabled provider of cloud, managed services, data centre infrastructure, and software solutions in India.
ESDS Software Solution is well-positioned for a strong market debut driven by explosive profitability, high customer retention, and clear expansion plans, said Shivani Nyati, head of wealth at Swastika Investmart. “Its rare full-stack capability and 94.92 per cent revenue retention rate set it apart from loss-making peers like E2E Networks, justifying a premium 35.66x P/E valuation,” said Nyati.
ESDS Software Solution IPO worth ₹720 crore was entirely a fresh issue of 1.68 crore shares of ₹720 crore, which the company plans to deploy for the installation of cloud computing and other equipment and infrastructure for data centres, general corporate purposes and issue expenses.
Priority Jewels IPO
The offer was booked 100.45 times overall, receiving bids for 321.6 million shares as against 3.20 million shares on offer, shows data available on NSE. The retail portion was booked 106.76 times, the NII segment 166.49 times and the QIB quota 39.87 times.
The ₹91.50-crore offer was also entirely a fresh issue of shares, with the proceeds raised earmarked for debt repayment and general corporate purposes.
Nyati said Priority Jewels carries a more uncertain debut outlook, marked by modest operational metrics and cooling market enthusiasm despite solid headline demand.
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