ESDS Software Solution IPO is a mainboard IPO raising ₹720 Cr at ₹408 – ₹429 a share. It listed on 4 Sept 2026 at ₹757, +76.5% against its issue price of ₹429, and trades at ₹1,582 today (+268.8% since issue). It was subscribed 136× in total.
135.9 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 0 | 6 | 1 | ₹25 Cr |
| Promoters | 0 | 0 | 1 | — |
| Directors | 0 | 0 | 1 | — |
| Subsidiaries | 0 | 0 | 0 | ₹0.0 Cr |
Former employee Rajeev Suryaprakash Papneja filed civil suit before Bombay HC against the Company and Promoter/Director Piyush Somani claiming equity share entitlement, alternatively demanding ₹142.80 million (Shares Entitlement I) and ₹42.00 million (Shares Entitlement II); HC-directed mediation failed and matter remitted to HC.
Indirect tax proceedings against the Company: 6 cases aggregating ₹65.68 million (as certified by Independent Chartered Accountants, Shah Khandelwal Jain & Associates, certificate dated August 24, 2026).
Tax proceedings table (certified): Company indirect tax ₹65.68 million across 6 cases; all other categories (Company/Subsidiaries/Promoters/Directors direct & indirect tax, including Promoter Somani) — Nil. No Group Companies exist.
GST: Company received SCN under Section 74(1) of CGST Act for alleged fraudulent ITC of ₹24.79 million for FY 2019-20; rectified interest ₹14.90 million + penalty ₹24.79 million = ₹39.70 million; matter pending.
FIR 793/2018 at Pune Hadapsar Police Station filed against Sandeep Dashrath Shukla (a Senior Management person) and others under IPC Sections 406, 420, 467, 468, 471 r/w 34 for alleged financial fraud involving ₹2.15 million; matter pending.
Company has no Group Companies as on RHP date. The Papneja civil suit names both the Company and Promoter/Director Piyush Somani; the same matter is cross-referenced under Promoters' and Directors' 'other material proceedings' — counted once (under Company) to avoid double-counting; amount shown for Promoters/Directors is null. The aggregate ₹65.68 million for Company indirect tax (6 cases) is broader than the single detailed GST case (₹39.70 million) — the differential (≈₹25.98 million) is not itemised in this section. Company 'other' count of 1 + 'tax' count of 6; aggregate amount = ₹184.80 million (civil suit claim) + ₹65.68 million (indirect tax) = ₹250.48 million = ₹25.048 crore. Senior Management FIR is not captured in a separate bucket (schema limited to company/promoters/directors/subsidiaries/group); noted as a criminal matter involving a Senior Management person. No disciplinary action by SEBI/stock exchanges against Promoters in last 5 fiscals. Conversion: 1 crore = 10 million.. Outstanding means unresolved — a listed case is an exposure, not a verdict.
What the issuer and the exchanges published. Everything else on this tab is read out of these.
The full prospectus — business, financials, risk factors and litigation.
Which institutions were allotted shares before bidding opened, and how many.
Where physical applications could be submitted.
The issuer's own "basis of issue price": the earnings multiples it is asking for, and the peer companies it chose to compare itself against.
The full prospectus — business, financials, risk factors and litigation.
