Seshaasai Technologies IPO GMP In Focus Ahead Of September 23 Launch
The IPO price band is set between Rs 402 to Rs 423 per share.
Seshaasai Technologies is set to launch its initial public offering (IPO) on Tuesday, September 23, to raise Rs 813.07 crore through a book-built issue.
Seshaasai Technologies is a tech-driven, multi-location solutions provider offering payments, communications, and fulfillment services primarily to the BFSI sector.
Here’s everything you need to know about the Seshaasai Technologies IPO, including its grey market premium (GMP), price band and offer size, among others.
Seshaasai Technologies IPO GMP
Seshaasai Technologies IPO GMP was Rs 113 at 11.00 a.m. on September 22. With an upper price band of Rs 423, the estimated listing price is Rs 536. This means the unlisted shares of Seshaasai Technologies were trading at Rs 536 per share on the private market, indicating an expected gain of 26.71% per share
The GMP for the mainboard issue has gained since the last few days. The lowest GMP recorded for the IPO was Rs 103.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Seshaasai Technologies IPO Details
Seshaasai Technologies IPO is a book-built issue of Rs 813.07 crore. It 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.
Seshaasai Technologies IPO Dates
Seshaasai Technologies IPO is scheduled to open on Tuesday, September 23, and will close on Thursday, September 25. The basis of allotment is expected to be finalised by Friday, September 26. The IPO is tentatively set to list on NSE and BSE on Tuesday, September 30.
Seshaasai Technologies IPO Business And Financials
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.
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.
Financials
For the financial year ended Mar. 31, Seshaasai Technologies reported a total income of Rs 1,473.62 crore, compared to Rs 1,569.67 crore in the previous year. Despite the slight dip in revenue, the company’s profit after tax (PAT) rose to Rs 222.32 crore in FY25, up from Rs 169.28 crore in FY24. Ebitda also increased to Rs 370.37 crore from Rs 303.01 crore in the previous year.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
