Seshaasai Technologies IPO GMP: What Does Grey Market Premium Signal On Final Day Of Subscription
The grey market premium trends for the Seshaasai Technologies IPO suggest an estimated listing gain of up to 11% 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, will conclude its subscription process today, on September 25.
The IPO was booked 6.36 times as of 12:16 p.m. on Thursday. Investors bid for 8,75,70,035 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 Day 3 subscription gets underway, the GMP for Seshaasai Technologies Limited remains in focus on the final day of bidding.
Seshaasai Technologies IPO GMP Today
The grey market premium (GMP) for Seshaasai Technologies IPO was Rs 45 at 11:55 a.m. on September 25. Considering the upper end of the IPO’s price band of Rs 423, the estimated listing price is Rs 468 (cap price plus today’s GMP), implying an expected listing gain of around 10.64% per share.
This means that the unlisted shares of the company were trading at Rs 468 per share at the private market. Investors who are successfully allotted the shares of Seshaasai Technologies can expect a potential gain of up to 11% 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: Allotment And Listing Date
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. Shares of Seshaasai Technologies are set to list on the BSE and NSE on Tuesday, September 30.
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.
