Seshaasai Technologies IPO: Payment Solution Provider’s Public Issue Booked 14x - Check Details

Seshaasai Technologies IPO GMP: Seshaasai Technologies Ltd public issue is scheduled to close today on September 25. Seshaasai Technologies IPO has been subscribed 14 times on the third day of bidding.

Seshaasai Technologies IPO GMP

Seshaasai Technologies IPO grey market premium (GMP) witnessed a slight decline on the final day of bidding. Seshaasai Technologies IPO GMP is ranging between Rs 45 and Rs 55 per share on September 25 as per multiple websites which track the movement of unlisted shares. Seshaasai Technologies shares are expected to list with gains of more than per 13 cent at Rs 478 per share.

Seshaasai Technologies IPO: Subscription On Day 3

Seshaasai Technologies IPO has received bids for over 191.89 million shares so far against the 13.76 million shares offered for subscription, leading to the issue being subscribed 13.94 times.

Non-Institutional Investors are driving the demand for Seshaasai Technologies’s shares as the issue has been booked 25.67 times in the NII category so far. NII’s have placed bids for 76.11 million shares of the company against the 2.96 million shares reserved for subscription.

Seshaasai Technologies IPO has been booked 5.89 times by retail Individual Investors (RIIs) so far. RIIs placed bids for 40.73 million shares compared to the 6.91 million shares reserved for the retail category.

Qualified institutional buyers (QIBs) have applied for 3.82 million shares of the decorative laminate seller’s public issue so far on the last day of bidding against the 74.68 million shares reserved for the category, booking the issue 19.50 times.

Employees of the company applied for 3,64,630 shares compared to the 55,248 shares offered for subscription, leading to the issue being booked 6.6 times so far.

Seshaasai Technologies IPO Issue Size

Seshaasai Technologies Ltd seeks to raise Rs 813.07 crore from its public issue. The public issue consists of a fresh issuance of 11.3 million shares and an offer-for-sale of 7.9 million shares.

Seshaasai Technologies IPO price band was set at Rs 402 to Rs 423 per share. The minimum lot size for retail individual investors was fixed at 35 shares, which aggregates to an investment of Rs 14,805.

Seshaasai Technologies IPO: Subscription Dates and Listing Date

Seshaasai Technologies IPO opened for subscription on September 23. Seshaasai Technologies IPO subscription window is scheduled to close on September 25. The share allotment status of Seshaasai Technologies IPO will be announced on September 26. Subsequently Seshaasai Technologies Ltd will issue refunds for unsuccessful applicants on September 29. Seshaasai Technologies Ltd shares are scheduled to list on the bourses on September 30.

Seshaasai Technologies: Financials

Seshaasai Technologies total income for FY25 surged to Rs 1473.62 crore, decreasing by more than 6 per cent from Rs 1,569.67 crore in FY24. The payment solutions provider’s profit-after-tax stood at Rs 222.32 crore growing by over 31 per cent in FY25 compared to a net profit of Rs 169.28 crore in the preceding fiscal.

Seshaasai Technologies IPO: Registrar

Seshaasai Technologies IPO’s book running lead manager is IIFL Capital Services Ltd and the registrar for the issue is MUFG Intime India Pvt.Ltd.

Seshaasai Technologies: Promoters

The promoters of Seshaasai Technologies include Pragnyat Pravin Lalwani and Gautam Sampatraj Jain. The promoters held 93.21 per cent stake in the company prior to the public issue.

Seshaasai Technologies IPO: Anchor Investors

Seshaasai Technologies allotted as many as 57.52 lakh shares to 17 anchor investors at Rs 423 per share. The payment solution provider raised Rs 243.32 crore prior to its public issue. Some of the major investors who participated in the anchor investment round included ICICI Prudential Mutual Fund, Nippon India Mutual Fund, UTI Mutual Fund, Motilal Oswal Mutual Fund, Sundaram Mutual Fund and Tata AIG General Insurance Co. Ltd.

Seshaasai Technologies IPO: Objective

Seshaasai Technologies seeks to use the proceeds of the public issue for funding capital expenditure, repayment of certain outstanding borrowings and general corporate purposes.