The IPO would be a mix of a fresh share issue and partial exits by existing shareholders. The company has appointed Axis Capital, and IIFL Securities as bankers to the issue, said sources. ESDS did not respond to an email query.
Founded in 2005 by Piyush Somani, ESDS is into the business of cloud services, data centre services, and product R&D across sectors.
In 2015, the company raised $4 million in funding by the Canbank Venture Capital fund, followed by another round of stake sale in 2018 to South Asia Growth Fund and Global Environment Capital Company LLC.
The push towards cloud services has boosted hyper-scale data centre investments, with global assets estimated at $200 billion annually by 2025. In India, the industry has gained momentum with more than 200 data centres and more than 10 cloud operators present.
