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The Economic Times

Business

Akash Podishetti

ESDS Software raises Rs 216 crore from anchor investors ahead of IPO; Quant MF among top buyers

ESDS IPO ESDS Software Solution

ESDS Software Solution has raised Rs 216 crore from anchor investors ahead of its Rs 720 crore initial public offering, which opens for subscription on August 28 and closes on September 1. The company allotted 50.34 lakh shares to anchor investors at Rs 429 per share. The IPO is entirely a fresh issue of 1.68 crore shares. There is no offer-for-sale component. The price band has been fixed at Rs 408-429 per share, valuing the company at about Rs 5,028 crore at the upper end of the band.

The company is expected to finalise allotment on September 2, while shares are likely to be credited to demat accounts on September 3. The stock is tentatively scheduled to list on BSE and NSE on September 4.

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