ESDS’ IPO Litmus Test, Even Axes 350 Jobs & More
Executive Take
Even's layoffs show that pivoting business models still means cutting real jobs, not just adjusting strategy. ESDS's IPO tests whether investors trust India's smaller data centre players against hyperscalers and rising hardware costs.
Executive Summary
Healthtech startup Even Healthcare laid off about 350 people, nearly 30% of staff, as it shifts from insurance to a hospital-led model. ESDS Software's ₹720 Cr IPO opens today, raising ₹216 Cr from anchors, with FY26 revenue up 31% to ₹472 Cr and profit up 117% to ₹120.8 Cr. Other items: InstaAstro raised ₹115 Cr, Temple acquired Longevous, Raphe mPhibr hit $900 Mn valuation, and OYO parent PRISM's FY26 profit rose 306%.
Why It Matters
HR leaders should note Even's layoffs as another case of a funded startup restructuring its workforce mid-pivot. GCC and technology leaders should watch ESDS's IPO as a signal on India's sovereign cloud and data centre investment appetite.
Bizquad Perspective
The real story isn't ESDS's IPO size but that GPU price inflation is quietly shrinking what every India data centre operator can actually build with fresh capital.