Seshaasai Technologies IPO GMP In Focus Today — Check Latest Grey Market Trends On Second Day Of Subscription
The grey market premium trends for the Seshaasai Technologies IPO suggest an estimated listing gain of up to 18% when the shares list on the market next week.
The initial public offering (IPO) of Seshaasai Technologies Ltd., which opened for subscription on Tuesday, September 23, was fully subscribed on first day.
The IPO was booked 1.90 times as of 1:03 p.m. on Wednesday.
Amid the buzz, the unlisted shares have been trading at a premium in the grey market (GMP), suggesting potential listing gains for investors.
The subscription period for Seshaasai Technologies IPO will close on September 25.
Here’s a look at what the latest GMP trends indicate for the mainboard issue of Seshaasai Technologies.
Seshaasai Technologies IPO GMP
The grey market premium (GMP) for Seshaasai Technologies IPO was Rs 75 at 12:01 p.m. on September 24. Considering the upper end of the IPO’s price band of Rs 423, the estimated listing price is Rs 498 (cap price plus today’s GMP), implying an expected listing gain of around 17.73% per share.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Seshaasai Technologies IPO Details
As of 10:21 a.m. on September 24, the Seshaasai Technologies IPO was subscribed 1.23 times, according to BSE.
The Seshaasai Technologies IPO is a book-built issue of Rs 813.07 crore. In 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.
IIFL Capital Services Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the IPO’s registrar.
The tentative allotment date for the Seshaasai Technologies IPO is Friday, September 26. Refunds and credit of shares to demat accounts are expected on Monday, September 29. The IPO is tentatively set to list on the BSE and NSE on Tuesday, September 30.
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.
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.
