The initial public offering (IPO) of Seshaasai Technologies Ltd., which opened for subscription on Tuesday, September 23, concluded its subscription process on September 25.
The IPO was booked 68.13 times on Thursday. Investors bid for 93,79,90,515 shares against the 1,37,67,095 shares on offer.
Amid the buzz, the unlisted shares of Seshaasai Technologies have been trading at a premium in the grey market (GMP), suggesting potential listing gains for investors.
As the allotment status for the Seshaasai Technologies IPO gets finalised today , the GMP for the public issue remains in focus ahead of listing next week.
Seshaasai Technologies IPO GMP Today
The grey market premium (GMP) for Seshaasai Technologies IPO was Rs 56 at 8:00 a.m. on September 26. This means that the unlisted shares of the company were trading at Rs 479 per share at the private market. Investors who are successfully allotted the shares of Seshaasai Technologies can expect a potential gain of up to 13.24% when the stock debuts on the market next week.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Seshaasai Technologies IPO: All You Need To Know
The Seshaasai Technologies IPO is a book-built issue of Rs 813.07 crore. It includes a fresh issue of 1.13 crore shares totalling Rs 480 crore and an offer-for-sale of 79 lakh shares amounting to Rs 333.07 crore.
The price band for the IPO has been set at Rs 402 to Rs 423 per share.
The IPO, which was fully subscribed on the first day, was booked over 3 times on the second day of bidding.
The lot size for an application is 35. The minimum amount of investment required by a retail investor is Rs 14,805.
IIFL Capital Services Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the IPO’s registrar.
Seshaasai Technologies Ltd., founded in 1993, is a technology-driven solutions provider. The company specialises in payment solutions, communications, and fulfilment services, mainly for the banking, financial services and insurance (BFSI) sector. The company also provides IoT solutions to customers across various industries.
Seshaasai Technologies IPO Listing Date
Shares of Seshaasai Technologies are set to list on the BSE and NSE on Tuesday, September 30.
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