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ESDS is putting 80% of its IPO into servers and cloud infrastructure, now utilisation has to justify a Rs 5,028cr valuation

ESDS Software Solution closes its ₹720 crore IPO today with 80% of the proceeds earmarked for cloud and data-centre infrastructure. Revenue increased 31% and profit more than doubled in FY26, but a roughly 42-times post-issue earnings valuation assumes its AI, GPU and sovereign-cloud expansion can convert heavy infrastructure spending into sustained high-margin growth.
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Techno Electric revenue rises 25%, but Rs 628cr data centre build-out is still barely visible in earnings

Techno Electric & Engineering Company Limited grew standalone Q1 FY27 revenue 25%, but margins narrowed and profit slipped as capital moved from treasury investments into data centres, smart metering and transmission assets. With ₹628 crore already deployed into data centres and monetisation still at an early stage, the next test is whether its second growth engine can begin justifying the capital committed.