ESDS to expand data centre operations with Rs 720-cr IPO proceeds

Mumbai: Cloud and data centre company ESDS Software Solution plans to use the proceeds from its upcoming ₹720-crore initial public offering (IPO) to expand its data center footprint and pursue global expansion across Europe and Southeast Asia.

The Nashik-based company, which is preparing to become one of India's first listed data centre operators, will deploy ₹576 crore from the IPO towards buying GPUs, servers, storage, networking equipment and related data centre infrastructure, managing director Piyush Somani told ET.

ESDS joins its larger rivals Yotta Data Services and Sify Infinit Spaces which are set to list on the bourses. ST Telemedia Global Data Centres (STT GDC) is also reportedly eyeing a listing this year.


On Tuesday, ESDS announced the IPO price band of ₹408-429 per share for its ₹720-crore initial public offering (IPO), valuing the company at up to ₹5,028 crore.

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The IPO, comprising an entirely fresh issue with no offer-for-sale component, will open for subscription on August 28 and close on September 1, while anchor investors can bid on August 27.

ESDS has signed a five-year $1.25 billion deal with an Australia-based AI neocloud provider to deploy a dedicated AI cluster comprising 8,208 NVIDIA B300 GPUs, the company said. The revenues from the deal are expected to begin from the third quarter of FY27.

The company currently operates five data centres across Nashik, Navi Mumbai, Bengaluru, Mohali and Noida, and plans to use IPO proceeds for new facilities in Kolkata and Sahibabad.