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 every week. It can be nonetheless about thrice the ₹429 worth at which it offered shares in its IPO 5 weeks in the past.

Read the 2 numbers collectively

Livemint studies 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 laborious by late September and have given a part of it again in seven classes.

A 5 per cent decrease circuit is the trade restrict for that inventory on that day. Once the value falls 5 per cent beneath the earlier shut, it can’t commerce decrease till the following session. Seven of them in a row means sellers have outnumbered consumers on the ground worth day by day for seven days.

Our tracker reveals ₹1,294.30 for ESDS Software Solution, in opposition to the ₹1,292.15 Livemint cites on the BSE. The small hole is the same old one between the 2 exchanges. Here is the place that sits in opposition to 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 price ₹43,006. Anyone who obtained 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 overall 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 resulting from finish on 2 October, masking 25.17 lakh shares. The two counts are shut with out being an identical, 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 offered. It solely makes them eligible for buying and selling. Whether the holders promote, maintain or promote a component is their name, and it reveals 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 12 months earlier, revenue was up 14 per cent and income up greater than 7 per cent.

So the yearly comparability remains to be up and the quarterly one is sharply down. For an information centre enterprise that’s not uncommon, since giant orders and capability additions land inconsistently throughout quarters. It does make the valuation tougher 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 score 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 score 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 score 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 FY24 to FY26, development in recurring income from cloud and managed companies, higher visibility from the order e-book and stronger credit score metrics. Credit rankings measure the power to service debt, not the share worth. ESDS carried whole borrowing of ₹42.92 crore as on 31 March 2026 in opposition to a web price 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 difficulty that was completely recent shares, with no supply on the market. The e-book closed at 135.88 occasions on 1 September, the tenth most subscribed of the 99 mainboard IPOs that closed in 2026 in opposition to 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 tools and knowledge centre infrastructure, with the remainder for normal 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 huge enterprises. It served 2,501 clients in FY2026.

One other thing our knowledge reveals. The last 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 almost 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 seller quote, not an trade 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 outcome, due later this month, which is able to present whether or not the June dip was a one quarter matter.

The full difficulty 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 printed on 1 October. For how this debut ranks in opposition to each different 2026 difficulty, see our mainboard IPO itemizing efficiency desk. The circuit rely 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 utility on the higher band was ₹14,586.

When did the ESDS Software lock-in expire?

Livemint studies that the one month shareholder lock-in ended on Monday, 5 October 2026, releasing round 3 million shares for buying and selling. Our anchor lock-in calendar had put the 30 day anchor launch at 2 October, masking 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 tools and knowledge centre infrastructure.