Seshaasai Technologies IPO Soars with 68x Subscription

Seshaasai Technologies Ltd's initial public offering (IPO) concluded with a staggering 68.13 times subscription rate on its final bidding day. The three-day IPO saw vigorous interest as it garnered bids for 93,79,90,515 shares, vastly exceeding the 1,37,67,095 shares available, according to data from NSE.

Institutional investor interest was particularly high, with their category receiving a 189.63 times subscription rate. Non-institutional investors also showed strong engagement with 49.89 times subscription, and retail investors contributed with 9.17 times subscription.

The IPO, comprising a combination of fresh shares and an offer for sale, aims to raise Rs 813 crore. The funds will facilitate the expansion of manufacturing units, debt repayment, and general corporate expenditures, supporting Seshaasai's growth in providing payment and communication solutions.

(With inputs from agencies.)