• IPO capital expenditure: ESDS is raising ₹720 crore via a fresh issue IPO, with ₹576 crore allocated toward CAPEX to deploy 700 to 800 GPUs and expand data center capacity in India.
• Sharon AI partnership: The company contracted an 8,200 GPU cluster from Australia-based Sharon AI for $1.25 billion over five years, which is fully booked out with double-digit PAT margins.
• GPU valuation outlook: Management anticipates GPUs will appreciate rather than depreciate over the next five years due to limited upcoming global semiconductor manufacturing capacity.
• Infrastructure sourcing mix: ESDS plans to shift its revenue split from 80% owned and 20% partner-leased infrastructure toward a 50:50 balance as it expands international partner-funded deployments.