ESDS Software Solution targets Rs 720 Crore IPO, will use proceeds to expand data center footprint
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India's ESDS Software Solution is targeting an Initial Public Offering (IPO) raise of Rs 720 crore ($75.4 million).
Key facts
As reported by CXO Digital Pulse, the IPO went live today, August 28, with a fixed price of between Rs 408 ($4.28) and 429 ($4.50) per share, with shares listed on both the BSE and NSE
India's ESDS Software Solution is targeting an Initial Public Offering (IPO) raise of Rs 720 crore ($75.4 million)
Approximately Rs 576 crore ($60.35m) will be used to purchase and install cloud computing equipment and infrastructure for its data centers
In April of this year, the company signed a $1.25bn cloud capacity agreement with neocloud Sharon AI that would last for five years
Summary
The company has said that a large portion of the proceeds from this offering will be used to expand its data center capacity. As reported by CXO Digital Pulse, the IPO went live today, August 28, with a fixed price of between Rs 408 ($4.28) and 429 ($4.50) per share, with shares listed on both the BSE and NSE. Approximately Rs 576 crore ($60.35m) will be used to purchase and install cloud computing equipment and infrastructure for its data centers. According to ESDS' website, the company currently operates five data centers in Navi Mumbai, Bengaluru, Mohali, Noida, and Nashik, with two "upcoming" facilities in Kolkata and Ghaziabad.