Maithan Alloys buys $5.2M stake in cloud provider ESDS Software
What's the deal? Maithan AlloysDealroom has a profile for this one. Try Dealroom → has acquired a 0.24% stake — 279,000 equity shares — in ESDS Software SolutionDealroom has a profile for this one. Try Dealroom → for US$6.82M. It bought the shares through the stock exchange on September 23, 2026.
Why now? Maithan Alloys said the purchase is part of its investment strategy to realise long-term and short-term investment benefits. It clarified that it does not intend to acquire control of ESDS Software's management, directly or indirectly.
What's the endgame? ESDS Software, incorporated in 2005, is an AI-enabled IT service provider. It builds and manages IT infrastructure, offering data centre, cloud, colocation, managed services, and AI infrastructure solutions to governments, public sector undertakings, banks, and enterprises across India.
By the numbers: As of March 31, 2026, ESDS Software reported turnover of US$51.3M, profit after tax of US$8.42M, and net worth of US$70.6M. Turnover has climbed steadily, from US$38.2M in 2023-24 to US$48.5M in 2024-25.
The signal: A minority stake this small reads more as a financial bet than a strategic move. For Maithan Alloys, a metals producer, parking capital in a growing domestic cloud and AI infrastructure firm signals confidence in demand for India-based data services.
Read more: freepressjournal.in
Image credit: Cory M. Grenier
