Seshaasai Technologies IPO Day Three — Check Subscription, GMP, Other Details

Seshaasai Technologies' initial public offering (IPO) was subscribed 4.77 times on Thursday as of 11:12 a.m on the third day of subscription. The company aims to raise Rs 813.07 crore through the book-built issue. Seshaasai Technologies is a tech-driven, multi-location solutions provider offering payments, communications, and fulfillment services primarily to the BFSI sector.

The book-built issue includes a fresh issue of 1.13 crore shares worth Rs 480 crore and an offer for sale of 0.79 crore shares worth Rs 333.07 crore. The IPO price band is set between Rs 402 to Rs 423 per share.

The lot size for each application is 35 shares. A retail investor needs a minimum investment of Rs 14,805 to participate in this IPO. For sNII, the minimum is 14 lots (490 shares), requiring Rs 2,07,270. For bNII, it is 68 lots (2,380 shares), requiring Rs 10,06,740.

IIFL Capital Services Ltd. is the book-running lead manager. MUFG Intime India Pvt. Ltd. is the registrar for this IPO.

Incorporated in 1993 as Seshasai Business Forms Private Ltd., the company was renamed Seshaasai Technologies Ltd. in 2024. It is a tech-driven, multi-location solutions provider offering payments, communications and fulfillment services, mainly to the BFSI sector.

The IPO proceeds will be used for multiple purposes, including allocation of Rs 197.91 crore toward funding capital expenditure. Around Rs 300 crore will be used for repayment or prepayment of certain outstanding borrowings. The remaining funds will be used for general corporate purposes.

• IPO size: Rs 813.07 crore

• Price band: Rs 402 to Rs 423

• Opening date: Sept. 23

• Closing date: Sept. 25

• Listing date: Sept. 30

• Minimum lot size: 35 equity shares

The Seshaasai Technologies IPO was subscribed 4.77 times on Thursday as of 11:13 a.m.

• Non-Institutional investors (NII): 11.25 times

• Retail investors: 4.07 times

• Employee Reserved: 5.25 times

Seshaasai Technologies IPO GMP was Rs 54 at 11:14 a.m. on Sept. 25. With the price band of 423.00, Seshaasai Technologies IPO's estimated listing price is Rs 477, indicating an expected gain of 12.77% per share.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.