The stock has now surged nearly 287% from its IPO price of Rs 429, delivering a stunning return to investors within just six trading days of listing.

The sharp rally continued after a blockbuster debut on the stock exchanges and growing investor optimism around India’s expanding data-centre and digital infrastructure opportunity. ESDS Software Solution made its market debut at Rs 757 on the NSE, a premium of around 76.5% over its issue price. The stock gained further momentum on its first day, closing at Rs 908.40, representing a gain of nearly 112% over the IPO price.

Piyush Somani, Chairman and Managing Director of ESDS Software Solutions Limited, told ET, “We believe India can realistically bring 30-40 GW of new data centre power online over the next ten years, supported by a rapidly expanding generation base, renewable capacity additions and a policy environment that views digital infrastructure as strategic.” He added that, compared with today’s installed base of roughly 1,545 MW, this represents a significant structural shift.

IPO demand was exceptionally strong

The stock’s explosive post-listing performance follows equally strong demand during its public issue. The ESDS Software Solution IPO was subscribed 136 times overall, highlighting aggressive investor interest across categories. The qualified institutional buyer (QIB) portion was subscribed more than 261 times, while the non-institutional investor and retail portions were subscribed around 193 times and 40 times, respectively.

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The IPO comprised an entirely fresh issue, with the company setting a price band of Rs 408-429 per share. Before the public offering, ESDS raised Rs 216 crore from anchor investors, allotting 50.34 lakh shares at Rs 429 apiece.
A substantial portion of the funds raised through the IPO is earmarked for strengthening the company’s digital infrastructure capabilities. Around Rs 576 crore is proposed to be invested in the purchase and installation of cloud-computing equipment and other data-centre infrastructure. The remaining proceeds will be used for general corporate purposes.The investment comes at a time when demand for cloud computing, data storage, cybersecurity and digital infrastructure is accelerating, potentially creating a favourable operating environment for companies such as ESDS.

ESDS Software Solution operates across the digital infrastructure ecosystem, offering Infrastructure-as-a-Service (IaaS), Managed Services and Software-as-a-Service (SaaS) solutions. The company caters to customers in India and international markets, with key clients spanning banking and financial services, government and enterprise segments.

The company’s financial performance also showed a significant improvement in FY26. Total income rose 28% year-on-year to Rs 480.65 crore in FY26, compared with Rs 376.64 crore in FY25. More notably, profitability surged. Profit after tax (PAT) more than doubled to Rs 120.82 crore, marking a 117% increase from Rs 55.61 crore in the previous financial year.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times.)

LONDON — Queen Camilla is reportedly working to strengthen her relationship with Kate Middleton, Princess of Wales, as she continues supporting King Charles III through his ongoing cancer treatment, according to a source cited by Heat World.

An insider told the outlet that despite any past wariness between the two women, Camilla recognizes the practical necessity of maintaining a cordial relationship with her daughter-in-law.

“No matter how wary Camilla may be towards Kate, she genuinely can’t afford to have her as an enemy,” the source said.

The insider pointed to Charles’s close relationship with Kate as one key factor shaping Camilla’s approach, along with the broader dynamics of her relationship with Prince William.

“For one thing, Charles has a huge amount of respect and love for Kate, so bickering with her doesn’t go over well with him. But even more crucial is how William feels and she’s simply never going to get anywhere with him if she isn’t on decent terms with Kate,” the source said.

The insider went on to suggest that Camilla’s motivations extend beyond simple family harmony, tying her approach directly to concerns about her own long-term position within the royal family as Charles’s reign progresses.

“The sad reality is that she may need his help a lot sooner than she would like. Her worst possible nightmare is being booted out and having zero role in the Firm,” the source said. “She wants to strike some sort of compromise that would allow her to hold onto all her perks and privileges when the time comes and she reluctantly accepts that the only way to make that even a remote possibility is to start being nice to Kate.”

The report comes amid a broader, well-documented history connecting Charles and Kate through their shared and overlapping health struggles in recent years. Buckingham Palace first announced in February 2024 that Charles was undergoing treatment for an undisclosed form of cancer, a diagnosis that emerged following a separate procedure for a benign enlarged prostate. Just weeks later, in March 2024, Kate announced she had also been diagnosed with cancer and was undergoing preventative chemotherapy, following earlier abdominal surgery. Kate completed her chemotherapy treatment in September 2024 and announced in January 2025 that she was in remission.

Author Sally Bedell Smith, who wrote “George VI and Elizabeth: The Marriage That Saved the Monarchy,” previously told People magazine that the shared experience of cancer treatment has only deepened the existing bond between Charles and Kate.

“The King has always had a very good bond with her,” Smith said. “She’s interested in artistic things, and she appreciates art and culture, so she has an affinity with the King over that.” Smith added of their parallel health battles: “Obviously they have this in common and can only bring them closer. It is a source of reassurance and consolation for both of them.”

Charles and Kate reportedly shared a private lunch together the day before Kate publicly announced her own cancer diagnosis in March 2024, according to sources cited by People at the time, further underscoring the close personal relationship between the two.

Charles has continued his cancer treatment in the time since his initial diagnosis, with Buckingham Palace confirming in December 2025 that his treatment schedule would be reduced heading into 2026, an update widely interpreted as a positive sign regarding his ongoing recovery, even as the palace has continued describing his cancer as a managed, ongoing condition rather than one that has been fully resolved.

Kate and Charles have made several joint public appearances in the time since their respective diagnoses, including attending a Cancer Research UK reception together at St James’s Palace in June marking the charity’s 125th anniversary. During that event, Kate met with Sebastian Bowen, husband of the late cancer awareness advocate Deborah James, continuing her broader public engagement with cancer-related causes since completing her own treatment.

Camilla, for her part, has spoken publicly about the emotional difficulty of the earliest days following Charles’s diagnosis, describing a period during which she felt she was “longing to let it out but obviously I couldn’t,” reflecting the pressure she faced maintaining public composure while privately supporting her husband through a serious health diagnosis. Camilla has served as patron of Maggie’s, a cancer support charity, notably having visited one of the organization’s centers just a week before Charles’s diagnosis was first disclosed to the public, a timing coincidence that drew some attention at the time.

The relationship between Camilla and Kate has periodically been the subject of speculation and competing narratives within British royal commentary over the years, with various outlets offering differing characterizations of the dynamic between the two women, ranging from reports of tension to accounts of a more cordial, if not especially close, working relationship within the broader royal family structure.

Neither Buckingham Palace nor Kensington Palace has publicly commented on the specific claims regarding Camilla’s efforts to improve her relationship with Kate, consistent with the royal family’s general practice of declining to address speculative reporting about the personal dynamics between senior family members.

With Charles continuing his reduced treatment schedule into 2026 and Kate having marked more than a year since entering remission, the shared health experiences of the two have continued to shape public perception of their relationship, even as unconfirmed reports regarding Camilla’s broader relationship-building efforts with Kate remain sourced to unnamed insiders rather than any official statement from the palace or the individuals involved.

Somerset’s cider apple growers know this is not a freak year.

“What we used to think of as extreme weather, we increasingly consider as normal.” says Mike Kendon, a climate scientist at the Met Office.

But what can an apple grower do about it?

Neil MacDonald is now watering newly planted trees.

“Five years ago you would just dig a good hole and leave nature to get on with it,” he smiles.

“Now you can’t get away with that, you have to irrigate young trees or they die.”

But irrigation for hundreds of acres of cider orchards is “just not viable”, he said. Farmers who grow eating apples for supermarkets command higher prices for their fruit, so traditionally they have invested in irrigation systems.

Cider growers are now having to rethink their calculations.

Most fundamentally of all, climate change may actually change the taste of West Country cider.

One of the main varieties that gives Somerset cider its bittersweet taste is Dabinett. Several growers have found these trees producing very few apples this year, not because of the drought, but the mild winter.

“Dabinett needs a cold snap,” MacDonald explains. “We just didn’t get the cold winter days this year or last, so it’s not producing.”

He is now grafting other varieties onto his Dabinett trees, plants that fare better in hot dry weather.

As our climate changes, the very taste of Somerset cider may change too.

The ONS said the services sector drove growth in July, with output increasing by 4%

The UK economy unexpectedly grew by 0.4% in July following a boost from the services industry and businesses increasing the use of AI, official figures show.

The Office for National Statistics (ONS) released the latest gross domestic product (GDP) data, which was up from a 0.3% growth rate in June.

It marks a surprise uplift after economists were expecting the economy to show zero growth for the month.

The figures will come as welcome news to Chancellor John Healey who earlier this week insisted that the UK economy was “turning a corner”, as he prepares to deliver his first autumn Budget statement next month.

The ONS said the services sector drove growth in July, with output increasing by 4%, and computer programming making the largest contribution.

Artificial intelligence (AI) and related technology has helped to boost the sector over the past three months, according to the ONS.

Its evidence showed that across computer programming, consultancy and IT activities, many of the businesses reporting the largest turnover in July were involved in activities related to AI and cloud computing.

It comes amid a wider AI investment boom, with businesses increasingly spending on infrastructure and training to accelerate their use of the technology.

GDP growth in July was also helped by a 0.2% increase in production output, driven by growths in manufacturing and water supply, including sewerage and waste management, the ONS said.

Construction output also increased by 0.1%, helped by housing repair and maintenance work.

Meanwhile, the impact from the heatwaves on spending in pubs and restaurants was down in July compared with June, which had been helped by record hot weather and the Fifa World Cup kicking off.

ONS director of economics statistics Liz McKeown said that “some businesses reported that the warm weather and Fifa World Cup had affected their activity, although effects differed across industries, benefitting some businesses while creating challenges for others”.

Mr Healey said: “Britain’s economy is demonstrating a welcome resilience, despite serious global uncertainty.”

He referred to the Iran war which he said “does have impacts here at home – from the cost of the weekly family shop to the cost of Government borrowing”.

Government long-term borrowing costs have risen to their highest levels in 28 years in recent weeks.

“We are shifting power to local communities to generate growth in more places and backing business to succeed with more investment, innovation and jobs,” Mr Healey said.

“This is the route to raising living standards and delivering good growth in every postcode.”

Ben Jones, CBI senior lead economist, said: Stronger-than-expected growth in July suggests that the economy carried some of its first-half momentum into Q3.

“But although the economy has proved more resilient to the fallout from the Middle East conflict than initially seemed likely, the second half of the year looks a bit more challenging. Higher household energy bills are beginning to bite, while volatile energy markets and a global bond-market sell-off are adding to uncertainty and pushing up borrowing costs.

“Business surveys have become less pessimistic than earlier in the year, but the improvement remains tentative. Ahead of the Budget, firms will be looking for how the Chancellor’s vision to unlock investment, innovation and good jobs across the country translates into action to tackle the cost of doing business – essential to turning that ambition into stronger growth and improved living standards.”

Yael Selfin, chief economist for KPMG, said: “Despite strong activity in July, the headline growth figure masks a weaker picture for households.”

She pointed to the consumer-facing services, like retail and hospitality, which marked falls in July following an earlier summer boost.

“Higher energy and fuel prices are likely to place further pressure on household budgets, while elevated mortgage rates will continue to weigh on housing activity and wider consumer spending,” she said.

This could cause momentum to slow in August and September, she cautioned.

Suren Thiru, chief economist for the Institute of Chartered Accountants England and Wales (ICAEW), said Mr Healey could be left with a “Budget headache” if economic growth starts to dwindle, “as more muted growth and surging borrowing costs erode his fiscal headroom, raising the prospect of further tax rises”.

Mr Healey is set to deliver his autumn Budget for taxes and spending on October 28, at a time when household energy bills are expected to rise following the new Ofgem price cap taking effect.

The UK economy grew by 0.4 per cent in July, well above the consensus forecast for no growth, according to figures published today by the Office for National Statistics (ONS). The statistics agency said the World Cup and record hot weather had lifted activity.

The monthly rise in gross domestic product followed growth of 0.3 per cent in June, while output stalled in May, the ONS monthly GDP estimate for July showed.

The ONS said businesses, especially in the hospitality sector, reported a boost in sales from the World Cup, which reached its latter stages in July. It said the record hot weather in the month also lifted activity.

The ONS figures show the increase in July was largely driven by a 0.4 per cent rise in services output. Service industries accounted for 81 per cent of UK economic output in the final three months of 2025, according to the House of Commons Library.

Production output rose by 0.2 per cent in July and construction output increased by 0.1 per cent.

On the three-month measure preferred by the ONS, GDP grew by 0.4 per cent in the three months to July. That matched growth in the three months to June.

The ONS’s first estimate for May had shown growth of 0.1 per cent, before the figure was revised down by 0.1 percentage points in its June bulletin.

July’s figures follow a first half in which the UK was the fastest-growing economy in the G7, according to the Resolution Foundation. The think tank said on 13 August that the economy grew by 0.6 per cent in the first quarter and 0.4 per cent in the second, giving combined growth of 1 per cent.

Stephen Hunsaker, economist at the Resolution Foundation, said at the time: “Britain’s economy has slowed after a strong start to the year, but growth of 0.4 per cent in the second quarter still leaves the UK leading the pack ahead of its G7 peers.”

The think tank said growth in the first half had left the economy 0.4 per cent larger than the Office for Budget Responsibility forecast in March, but warned that the economic fallout from the Iran war may cancel out that good news. It noted that the Bank of England had downgraded its future growth outlook.

The World Cup also featured in the ONS’s June figures, published on 13 August. The agency said the tournament, which started on 11 June, was cited as a reason for an increase in turnover in June by businesses in industries such as the manufacture of alcohol, wholesale, food and beverage serving activities, publishing, television production and advertising.

In July, payments company Square reported that transactions at Britain’s pubs and bars rose 145 per cent on the day of England’s World Cup semi-final against Argentina, with late-night trade between 10pm and 2am up 97 per cent.

The ONS’s June bulletin also said some businesses across manufacturing, retail, accommodation, and amusement and recreation cited positive impacts from the hot weather. The warm weather was also cited as having a negative impact on construction and on education, where schools were closed because of the heatwave.

Provisional Met Office figures put the mean temperature for June, July and August at 16.5C, the highest in a series stretching back to 1884, making it the UK’s warmest summer on record. The Met Office said on 1 September that the figure was 1.9C above the 1991-2020 average and beat the previous record of 16.1C set in 2025.

Separate analysis by the think tank Verdant put lost UK output from repeated heatwaves at £4.4bn by the end of July, citing reduced worker productivity and equipment shutdowns.

The ONS’s next monthly GDP estimate is due on 15 October.

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

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