ESDS Software Solution files IPO papers
By MYBRANDBOOK
The Nashik-based ESDS Software Solution is a leading managed cloud service and end-to-end multi-cloud requirements providers. It offers cloud computing Infrastructure as a Service (IaaS), and Software as a Service (SaaS), and managed services.
The company has filed preliminary papers with capital markets regulator SEBI to raise Rs 1,200-1,300 crore through an initial share sale.
The initial public offering (IPO) consists of fresh share issuance worth Rs 322 crore and an offer for sale (OFS) of up to 2.15 crore equity shares by investors and a member of the promoter group, according to draft red herring prospectus (DRHP).
The OFS comprises sale of up to 1.68 crore equity shares by South Asia Growth Fund II LP, up to 42.31 lakh equity shares by GEF ESDS Partners LLC, up to 4 lakh equity shares by Sarla Prakashchandra Somani and up to 34,000 equity shares by South Asia EBT Trust.
The company said it may consider a further issue of Rs 60 crore of specified securities through a rights issue to existing shareholders, private placement, preferential offer, or any other method, prior to the filing of the red herring prospectus with the ROC. If the said pre-IPO placement is completed, then accordingly the fresh issue size will be reduced.
It offers products across diversified industries that include government ministries & companies and corporate entities across sectors such as BFSI, manufacturing, IT and ITES, telecom, real estate, pharmaceuticals, retail and education and in several countries across the APAC region, Europe, Middle East, the Americas, and Africa.
Axis Capital and IIFL Securities are the book-running lead managers to the issue.
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