ESDS Software shares surge 235% above IPO price in four sessions, hitting Rs 1,438.85
ESDS Software Solution stock jumped 235% from its listing price of Rs 429 in just four trading days. Shares hit the upper circuit limit at Rs 1,438.85 on Wednesday, adding Rs 7,992 crore to market capitalization.
ESDS Software Solution shares rallied sharply on Wednesday, increasing by 10% and hitting the upper circuit limit of Rs 1,438.85 per share on the NSE. The stock price rose 235% from its initial public offering price of Rs 429 over four sessions, reaching the maximum trading limit every day since its debut on September 4 at Rs 757. This aggressive ascent added approximately Rs 7,992 crore to the company's market capitalization, raising it to Rs 16,865 crore from a debut valuation of around Rs 8,873 crore. Analysts noted favorable long-term growth prospects driven by rising demand for cloud computing and digitalization in India but warned of elevated valuations and execution risks. The recent surge already surpassed bullish expectations regarding the company's market debut.
