Seshaasai Technologies IPO open: What you should know
Seshaasai Technologies's IPO is now open and aims to raise ₹813 crore, split between a fresh issue of ₹480 crore and an offer for sale of ₹333 crore.
Shares are priced between ₹402-423 each, with a minimum lot of 35 shares.
Big names like Nippon India and ICICI Prudential Mutual Fund have already invested over ₹243.3 crore as anchor investors.
The company and its business
The company builds tech solutions for banks and financial services—think debit/credit cards, prepaid cards, mass transit cards, and cheque leaves.
Seshaasai holds a 31.9% share in India's card issuance market this year (FY25), making it a major player in secure payment tools.
Use of funds and listing date
Funds from the IPO will help expand manufacturing (₹198 crore) and pay off debts (₹300 crore). The rest is set aside for general corporate needs.
Shares are expected to list on September 30.