The primary market is buzzing with action and 4 IPOs are opening on September 23. One of them is, Seshaasai Technologies. It is a tech-driven solutions provider to the BFSI sector. The company’s Rs 813.07 crore IPO will open its subscription today, September 23, and will remain open till September 25.
But should investors plug into this offer? Let’s take look at 7 key things you need to know –
Seshaasai Technologies IPO: Issue structure and pricing
Seshaasai Technologies is aiming Rs 813.07 crore through a mix of fresh shares and an offer-for-sale. The fresh issue amounts to Rs 480 crore, while existing shareholders will sell shares worth about Rs 333.07 crore.
The price band of this mainboard issue is set between Rs 402-423 per share, and the lot size is 35 shares. For retail investors, that translates into a minimum investment of Rs 14,805.
Seshaasai Technologies IPO: Grey market trend
The latest GMP trend ir the grey market premium (GMP) stands at Rs 113. This indicates a potential listing price of around Rs 536 per share. That is nearly a 27% premium over the upper end of the price band.
However, it is important to note that GMP is not official or guaranteed and fluctuates based on market sentiment.
Seshaasai Technologies IPO: Fund utilisation
The company will use the IPO funds for different purposes. About Rs 197.91 crore will go toward capital expenses, and around Rs 300 crore will be used to repay existing loans.
The rest will be deployed for general corporate purposes.
Seshaasai Technologies IPO: Meet the registrar and lead manager
IIFL Capital Services is the book-running lead manager for this issue, while MUFG Intime India is acting as registrar.
Seshaasai Technologies IPO: Financial performance
Talking of the financial performance, the revenue of the company dipped slightly in FY25 to Rs 1,473.62 crore from Rs 1,569.67 crore in FY24. The profit after tax surged to Rs 222.32 crore in FY25 from Rs 169.28 crore the year before.
Seshaasai Technologies IPO: Allotment, listing
After the bidding window, the basis of allotment is expected by September 26. The listing is tentatively scheduled for September 30 on both the NSE and BSE.
Seshaasai Technologies IPO: About the company
The company traces its roots back to 1993, when it started as Seshasai Business Forms. In 2024, it rebranded itself as Seshaasai Technologies.
It offers services across payments, communication management, and fulfillment. It caters mainly to banks, insurers, and financial institutions.