Seshaasai Technologies Files Draft Papers For IPO
Seshaasai Technologies Ltd. filed the draft red herring prospectus with the Securities and Exchange Board of India on Friday to raise funds through an initial public offering.
The IPO will be a mix of both an offer for sale of 78.7 lakh shares and a fresh issue of shares worth Rs 600 crore, according to the DRHP.
Promoters Pragnyat Pravin Lalwani and Gautam Sampatraj Jain will be offloading their shares, with each of the promoters receiving the net proceeds from the OFS. The technology solutions provider will not obtain any proceeds from the offer for sale carried out by the promoters.
The net proceeds received from fresh issue will be utilised by Seshaasai for expanding its present manufacturing units, repayment or prepayment of its outstanding borrowings and general corporate purposes.
The price band and the offer price of the issue will be finalised after consulting with the book-running lead managers. The assessment will be based on the market demand for the equity shares offered through the book building process.
ICICI Securities Ltd., BNP Paribas, IIFL Capital Services Ltd., SBI Capital Markets Ltd. are the lead managers to the issue, while Link Intime India Pvt. will be registrar for the IPO.
Seshaasai is a technology-based company providing solutions across multiple locations, specializing in payment services, communications, and fulfillment, mainly for the banking, financial services, and insurance sectors. Their solutions prioritize data security and compliance.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
