The listing of ESDS Software Solution has pushed the combined market capitalization of 63 new-age tech companies past $170 billion, according to inc42.com. ESDS, which focuses on enterprise cloud, data center, GPU, and AI infrastructure, debuted on the BSE and NSE SME platforms with a 74% and 76.5% premium respectively after its IPO was oversubscribed 135.9 times.
The first week of September saw institutional investor stake sales, fresh ESOP allotments, and continued momentum in the new-age tech IPO market. Among 62 previously listed new-age tech stocks tracked by Inc42, 26 gained between 0.03% and 13%, while 36 declined by up to 15%. Notably, BSE SME-listed edtech startup Klassroom fell 15.37% to ₹184.50, and FirstCry touched a fresh all-time low of ₹170 before recovering to close at ₹180.10.
Despite many stocks declining, the overall market cap of these companies rose from $166.91 billion to $169.39 billion last week. Several companies including Lenskart, Ather Energy, and LEAP India hit fresh all-time highs. NSE SME-listed Yudiz Solutions led the gainers with a 13% rise, while Shiprocket, Urban Company, BlueStone, and Shadowfax also recorded notable gains, reflecting mixed but resilient investor interest in the sector.
ESDS Software Solution became the 63rd listed new-age tech company with its IPO listing on the BSE and NSE SME platforms, marking a significant milestone for the sector. The company’s IPO oversubscription of 135.9 times underscores strong investor demand for enterprise cloud and AI infrastructure firms, as reported by inc42.com.