India, Aug. 27 -- Two decades on, enterprise cloud and AI ecosystem provider ESDS Software Solution is setting sail for its next big quest - public markets. The Nashik-based company's IPO, which comprises an entirely fresh issue, opens tomorrow. The price band has been fixed at Rs.408 to Rs.429 per share.

The Rs.720 Cr ESDS IPO comes as India's data-centre industry shifts from traditional cloud setup to AI infrastructure. The cloud services provider plans to use the IPO proceeds to fund a major expansion of data-centre infrastructure, including GPUs and servers, as ESDS looks to capture the growing demand for AI compute and sovereign cloud.

However, there is a catch. The infrastructure ESDS needs has become significantly more expensive,...