Seshaasai Technologies IPO Opens Today: Anchor Investors Place ₹243 Crore

New Delhi, September 23 – Seshaasai Technologies, a payments and solutions firm, has opened its ₹813 crore Initial Public Offering (IPO) for subscription today. It made this move following the decent response it received from institutional investors in the anchor book. The firm raised over ₹243.3 crore on Monday by selling 57.52 lakh shares at ₹423 per share to 17 large institutional investors. Major investors are Nippon India Mutual Fund, ICICI Prudential MF, UTI MF, Motilal Oswal MF, Sundaram MF, and Tata AIG General Insurance.

IPO Structure and Price Band

Public issue comprises a fresh issue of ₹480 crore and an Offer for Sale of 78.74 lakh shares for ₹333 crore, totaling ₹813 crore. Price band is ₹402–₹423 per equity share, for which bid dates are September 23 to September 25. Bids are accepted for a minimum of 35 equity shares and in multiples thereafter.

Utilisation of Proceeds

Of the proceeds of the new issue, about ₹198 crore will be invested in expanding the company’s manufacturing facilities and ₹300 crore for debt repayment. The rest amount will be applied to general corporate purposes, strengthening the company’s balance sheet and operating flexibility.

Investor Quota Allocation

Seshaasai Technologies IPO has a standard pattern of allocation, with 50% reserved for Qualified Institutional Buyers (QIBs), 35% for individual investors, and 15% for non-institutional investors.

Company Profile and Financials

Seshaasai Technologies is a multi-location, technology-enabled company that offers secure payment, communication, and fulfillment solutions. Its product offerings include debit and credit cards, prepaid cards, mass transit cards, cheques, and other data-embedded banking, financial services, and government customer solutions.

Financially, the company recorded robust numbers in FY25 with top line of ₹1,463.15 crore and bottom line of ₹222.32 crore, which indicated its growth rate and profitability.

Lead Managers

The IPO is being managed by ICICI Securities, SBI Capital Markets, and IIFL Capital Services, who are acting as the book-running lead managers of the issue.

REF: https://listing.bseindia.com/Download//PreAnchor/RHP_20250919175523.pdf

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