It is always difficult to predict which stock on the stock market will quickly enrich investors, but there are similar examples. One such example is the stock of ESDS Software, which was recently listed on the stock market.
After its listing with a high premium, this stock has become a source of income for investors, regularly reaching the upper price level. On Monday, the first trading day of the week, despite an overall market decline, this stock rose by 20 percent.
The ESDS Software stock demonstrated rapid ascent at the start of trading on Monday. Opening at 1090.50 rupees, which is 20 percent higher than Friday's closing price (908.40 rupees), it reached a new high. Thanks to this growth, the company's market capitalization increased to 10,130 crore rupees.
The ESDS Software listing took place last Friday and proved to be very profitable. The shares were listed with a premium of 76% over the issue price. Following this impressive debut, the stock has shown continuous growth. On NSE, the stock was listed at 757 rupees against an upper price band of 429 rupees, and on BSE, it was listed at 746.30 rupees with a growth of 73.96%.
Most notably, immediately after such a premium listing, ESDS Share reached the upper price band and showed a 20% increase by market close. On Monday, the stock jumped again by 20% at the market open, bringing profits to investors.
Regarding the ESDS Software IPO, it was open to retail investors on August 28, with subscriptions accepted until September 1. It received a huge response from investors. According to data, applications were received for 12.35 million shares out of 1.67 billion shares, leading to an oversubscription of the offering by 135.88 times. The highest demand was recorded in the QIB category (261.51 times), NII (192.94 times), and retail category (39.64 times). The total size of this offering was 720 crore rupees.
In two days, the stock received a 'Buy' rating. Investors continue to buy this stock, supporting its growth. Furthermore, a significant factor driving the growth is the optimistic opinion of brokers. According to reports, Choice Broking began covering this stock with a 'Buy' rating (ESDS Share Buy Rating).