ESDS Software Solution Limited has officially confirmed that there has been no deviation or variation in the utilization of funds raised through its Initial Public Offer (IPO). This statement pertains to the quarter ended September 30, 2026, and has been reviewed by the Audit Committee. The company is committed to transparent fund management and adherence to the IPO’s original objectives.
ESDS Software Solution Limited Reports on IPO Fund Utilization
ESDS Software Solution Limited has submitted a statement confirming the non-deviation in the utilization of funds raised via its Public Issue (Initial Public Offer). The report covers the financial period up to the quarter ended September 30, 2026. The total amount raised was ₹7200 million, with net proceeds of ₹6,670.48 million.
Fund Allocation and Utilization Details
The company has provided a detailed breakdown of the original allocation and funds utilized for various objects. Key allocations included:
- Purchase and installation of cloud computing and other equipment and infrastructure for Relevant Data Centres: Original Allocation – ₹5,760.00 million; Funds Utilised – Nil (To be deployed as per Schedule in offer document).
- General Corporate Purposes: Original Allocation – ₹910.48 million; Funds Utilised – ₹87.46 million (To be deployed as per Schedule in offer document).
- Issue Expenses: Original Allocation – ₹529.52 million; Funds Utilised – ₹381.67 million (To be deployed as per Schedule in offer document).
The total original allocation amounted to ₹7,200.00 million, with total funds utilized for the quarter being ₹469.13 million. The company has stated that there is no deviation or variation observed in the use of these funds.
Audit Committee Review
The Audit Committee reviewed the statement at its meeting held on November 02, 2026, and found no deviation or variation in the utilization of the IPO funds. The auditors have also confirmed that any comments, if any, are noted as ‘Nil’.
Source: BSE
