ESDS Software Share Price: seventh Decrease Circuit in a Row

The ESDS Software share worth was locked on the 5 per cent decrease circuit for a seventh session in a row on Tuesday, 6 October 2026, at ₹1,292.15 on the BSE, as per a Livemint report. The inventory is down 18.55 per cent in per week. It can be nonetheless about thrice the ₹429 worth at which it bought shares in its IPO 5 weeks in the past.

Read the 2 numbers collectively

Livemint reviews the inventory down 18.55 per cent over the previous week and 24.15 per cent over two weeks, and up 44.29 per cent over the previous month. Both units of figures are true on the similar time. The shares ran up exhausting by means of late September and have given a part of it again in seven classes.

A 5 per cent decrease circuit is the alternate restrict for that inventory on that day. Once the value falls 5 per cent beneath the earlier shut, it can not commerce decrease till the subsequent session. Seven of them in a row means sellers have outnumbered patrons on the ground worth day-after-day for seven days.

Our tracker exhibits ₹1,294.30 for ESDS Software Solution, towards the ₹1,292.15 Livemint cites on the BSE. The small hole is the standard one between the 2 exchanges. Here is the place that sits towards the IPO.

One lot within the IPO was 34 shares, which value ₹14,586 on the higher band of ₹429. At ₹1,294.30 that lot is value ₹43,006. Anyone who bought an allotment is effectively forward of the problem worth even after seven down days. The 76.46 per cent open on 4 September was the third better of the 98 mainboard listings in 2026, the place the median acquire was 7.04 per cent.

What triggered the autumn

Livemint factors to a lock-in expiry. The one month shareholder lock-in ended on Monday, 5 October, which made round 3 million shares eligible to commerce. The report places that at 2 per cent of the entire excellent shares.

Our personal anchor lock-in calendar had flagged a launch a number of days earlier. As we wrote on 1 October, the 30 day anchor lock-in on this IPO was attributable to finish on 2 October, overlaying 25.17 lakh shares. The two counts are shut with out being similar, as a result of they cowl barely totally different units of locked shareholders. ESDS had raised ₹216 crore from anchor buyers earlier than the problem opened, as per the identical Livemint report.

What a lock-in expiry doesn’t imply is that the shares get bought. It solely makes them eligible for buying and selling. Whether the holders promote, maintain or promote an element is their name, and it exhibits up within the worth moderately than in any submitting on the day.

The June quarter numbers

The different quantity within the background is the outcomes. For the June quarter, ESDS reported revenue of ₹29.27 crore, down 56 per cent from ₹67.41 crore within the March quarter. Revenue from operations fell 20 per cent over the identical three months, to ₹133.65 crore from ₹167.5 crore. Compared with the June quarter a yr earlier, revenue was up 14 per cent and income up greater than 7 per cent.

So the yearly comparability continues to be up and the quarterly one is sharply down. For a knowledge centre enterprise that isn’t uncommon, since massive orders and capability additions land inconsistently throughout quarters. It does make the valuation more durable to learn. At the problem worth of ₹429 the IPO was priced at 41.61 occasions earnings on an EPS of ₹10.31. At ₹1,294.30 the identical EPS works out to effectively above 100 occasions.

Two ranking businesses went the opposite method

While the value fell, the credit score view improved. On 29 September 2026, India Ratings and Research upgraded the long run ranking on ESDS Software Solution’s ₹50 crore financial institution mortgage amenities to IND A with a Stable outlook, from IND BBB+ with a Positive outlook. The quick time period ranking went to IND A1 from IND A2+.

That adopted CRISIL Ratings, which on 16 September raised its rankings on the corporate’s financial institution amenities to Crisil A- with a Positive outlook and Crisil A2+, from Crisil BBB+ with a Positive outlook and Crisil A2.

India Ratings cited a bigger and extra diversified enterprise by means of FY24 to FY26, development in recurring income from cloud and managed companies, higher visibility from the order ebook and stronger credit score metrics. Credit rankings measure the power to service debt, not the share worth. ESDS carried complete borrowing of ₹42.92 crore as on 31 March 2026 towards a web value of ₹528.81 crore, so there’s not a lot debt to service.

The IPO in brief

ESDS Software Solution raised ₹720 crore in a problem that was totally recent shares, with no provide on the market. The ebook closed at 135.88 occasions on 1 September, the tenth most subscribed of the 99 mainboard IPOs that closed in 2026 towards a median of 24.96 occasions. Institutions bid 261.51 occasions, non institutional buyers 192.94 occasions and retail 39.64 occasions.

Of the ₹720 crore, ₹576 crore goes into cloud computing gear and knowledge centre infrastructure, with the remainder for basic company functions. The firm runs 5 Tier 3 knowledge centres throughout India and sells cloud, managed IT and software program companies, largely to banks, insurers, authorities our bodies and enormous enterprises. It served 2,501 clients in FY2026.

One other thing our knowledge exhibits. The ultimate gray market premium earlier than itemizing was ₹247, or 57.58 per cent, on 4 September. The inventory opened 76.46 per cent up. The gray market understated this one by practically 19 proportion factors. Across the final 10 mainboard listings, the ultimate GMP missed the precise open by 10.68 proportion factors on common. GMP is an unofficial vendor quote, not an alternate worth, and it says nothing in any respect about the place a inventory trades a month later.

What occurs subsequent

There are not any IPO milestones left. Allotment was on 2 September, refunds and demat credit score on 3 September, and itemizing on 4 September on each exchanges. The subsequent scheduled occasion is the September quarter end result, due later this month, which is able to present whether or not the June dip was a one quarter matter.

The full challenge file, financials and worth historical past are on our ESDS Software Solution IPO web page, and the lock-in dates are within the anchor lock-in observe we revealed on 1 October. For how this debut ranks towards each different 2026 challenge, see our mainboard IPO itemizing efficiency desk. The circuit depend and the weekly fall come from Livemint’s report of 6 October.

Frequently requested questions

What was the ESDS Software IPO worth?

The IPO worth band was ₹408 to ₹429 and the problem worth was ₹429 a share. One lot was 34 shares, so the minimal software on the higher band was ₹14,586.

When did the ESDS Software lock-in expire?

Livemint reviews that the one month shareholder lock-in ended on Monday, 5 October 2026, liberating round 3 million shares for buying and selling. Our anchor lock-in calendar had put the 30 day anchor launch at 2 October, overlaying 25.17 lakh shares.

How a lot did the ESDS Software IPO increase?

₹720 crore, all of it recent shares. ₹576 crore of that’s earmarked for cloud computing gear and knowledge centre infrastructure.