ESDS Software and Priority Jewels IPOs Cross 100x Subscription on Final Day

The initial public offerings (IPOs) of ESDS Software Solution and Priority Jewels closed with strong investor demand on the final day of bidding. ESDS Software Solution secured an overall subscription of 135.88 times, while Priority Jewels recorded a subscription of 100.45 times.

The ESDS Software Solution IPO consists entirely of a fresh issue of equity shares aggregating up to ₹720 crore. The price band for the issue has been fixed at ₹408 to ₹429 per share. At the upper end of this price band, the company is valued at a market capitalisation of approximately ₹5,028 crore.

Out of the total proceeds raised, ESDS Software Solution plans to allocate ₹576 crore toward purchasing and installing cloud computing equipment, data centre infrastructure, and other hardware. The remaining funds will be utilized for general corporate purposes.

Meanwhile, the Priority Jewels IPO features a price band of ₹190 to ₹200 per share. The offering comprises a fresh issue of up to 45.75 lakh equity shares, which aggregates to ₹91.50 crore at the upper price band limit. Ahead of its public issue, Priority Jewels raised ₹27.5 crore from four anchor investors, including WhiteOak Capital and Sanshi Fund-I.

Both companies are scheduled to list their shares and debut on the stock exchanges on September 4.

"The triple-digit subscription figures for both ESDS Software Solution and Priority Jewels indicate strong market appetite for current public offerings. For ESDS, the clear allocation of funds toward infrastructure expansion like data centres demonstrates a focused growth strategy that investors appear to value. As both companies prepare for their market debut on September 4, maintaining operational execution will be critical to sustaining investor confidence beyond the listing day." — Dr. Shishir Gupta, Founder & CEO, StartupLanes