Seshaasai Technologies Set for Rs 813 Crore IPO Launch

Seshaasai Technologies, a key player in the payment solutions sector, has announced a price range for its forthcoming Initial Public Offering (IPO) set between Rs 402 and Rs 423 per share, amounting to Rs 813 crore.

The public offering is slated to commence on September 23 and will remain open for subscriptions until September 25. The IPO consists of a fresh issue of shares valued at Rs 480 crore and an Offer For Sale (OFS) component worth Rs 333 crore.

Proceeds from this IPO will be used for various purposes: Rs 198 crore for expanding existing manufacturing facilities, Rs 300 crore for debt repayment, and the balance for general corporate needs. Allocation of the IPO includes 50% for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Seshaasai Technologies specializes in payment and communication solutions, including the design and development of debit, credit, and prepaid cards. Their fiscal 2025 performance reflected a revenue of Rs 1,463.15 crore and a profit after tax of Rs 222.32 crore. The offering is managed by ICICI Securities, SBI Capital Markets, and IIFL Capital Services.

(With inputs from agencies.)