Share Price Of Seshaasai Technologies In Spotlight Today; Check Latest GMP Ahead Of Market Debut

The GMP for the Seshaasai Technologies IPO was Rs 40 as of 8:00 a.m. on September 30. This indicates a listing price of Rs 463 per share at a premium of 9.46% on the upper limit of the price band.

This means the unlisted shares of the company were trading at Rs 463 in the private market ahead of listing on Tuesday. Investors can expect a potential gain of up to 10% when shares debut on the BSE and NSE today.

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

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 was 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 was 35. The minimum amount of investment required by a retail investor was 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.

Use Of Proceeds

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.