ESDS Software Solution has delivered one of the most explosive post-listing rallies in recent memory. In just five trading sessions, the AI and cloud infrastructure company's stock has surged from its ₹429 IPO price to above ₹1,560, turning successful IPO applicants into investors with gains of around 264%.
On Thursday, September 10, the stock jumped 10% to ₹1,560.35 per share on the BSE after opening at ₹1,525. In the previous session as well, the stock had hit its 10% upper circuit. Before that, it had hit its 20% upper circuit for two straight sessions.
ESDS Software Solution shares were listed at ₹757 on the NSE on September 4, a 76.46% premium over the IPO issue price of ₹429 per share. On the BSE, it opened at ₹746.30, representing a 73.96% premium over the issue price.
Investors who received shares in the IPO have seen their investment more than tripled in just five trading sessions. On the listing day itself, Friday, September 4, the stock had surged around 112%.
The company's growth outlook has attracted a positive view from multiple analysts.