ESDS Software Solution files for Rs 6 billion IPO aiming to raise funds for cloud infrastructure and data centres

ESDS Software Solution has submitted preliminary documents to the capital markets regulator, the Securities and Exchange Board of India (Sebi), to raise Rs 6 billion through an initial public offering (IPO). The IPO will be entirely a fresh issue, with no offer-for-sale (OFS) component involved.

Out of the total proceeds, Rs 4.8 billion will be allocated towards acquiring and installing cloud computing equipment and developing data centre infrastructure, while the balance will be directed towards general corporate purposes.

This is the company’s second attempt at launching an IPO, following an earlier filing in September 2021. ESDS may also explore a pre-IPO placement of up to Rs 1.2 billion. If this materialises, the size of the fresh issue will be adjusted accordingly.