ESDS Software Solution and Priority Jewels launch IPOs

Two initial public offerings (IPOs) are opening for bidding on August 28: ESDS Software Solution and Priority Jewels.

ESDS Software Solution, an AI-enabled cloud and data center infrastructure provider, is launching a fresh issue of shares worth ₹720 crore with no offer for sale. The company recently mobilized ₹216 crore from anchor investors, including Motilal Oswal Mutual Fund, Quant Mutual Fund, and Samco Mutual Fund. ESDS reported a 117% year-on-year increase in net profit for FY26, reaching ₹120.8 crore. The company intends to use the capital to acquire GPUs and pursue sovereign cloud ambitions, though it faces challenges from rising hardware costs and competition from global hyperscalers.

Priority Jewels, a fine jewelry seller specializing in diamond-studded gold and platinum, aims to mobilize ₹91.50 crore through its IPO, which consists entirely of fresh shares.

Grey market indicators suggest strong interest for ESDS Software Solution, with a Grey Market Premium (GMP) signaling a potential listing gain of approximately 75.76% based on its upper price band of ₹429 per share.