Seshaasai Technologies Debuts on Stock Market with Slight Dip
Seshaasai Technologies Ltd made its stock market debut, initially seeing a slight increase before closing nearly 3% lower than the issue price. The company's IPO garnered significant interest, being oversubscribed by 68.13 times. With a focus on payment solutions, the IPO raised Rs 813 crore.
- Country:
- India
Seshaasai Technologies Ltd entered the stock market with a notable fluctuation in its trading price. Initially, the stock of the payments solution provider was listed at Rs 436 on the BSE, a 3.07% rise from its issue price of Rs 423.
However, the initial gains were short-lived as the shares ended the day at Rs 411.50, marking a 2.71% drop. Concurrently on the NSE, the stock started at Rs 432, a 2.12% increase, but similarly concluded at Rs 411.45, down 2.73%.
The company's IPO, worth Rs 813 crore, saw massive interest with a 68.13 times subscription. Funds raised aim to expand manufacturing, pay debt, and cater to corporate needs. Seshaasai specializes in payment solutions, developing instruments like cards and cheques with embedded customer data.
(With inputs from agencies.)
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