Seshaasai Technologies IPO: Shares to list today; what to expect
Seshaasai Technologies just wrapped up its IPO, raising ₹813 crore after a huge nearly 70x oversubscription.
Shares were priced at ₹402-₹423 and are set to list on September 30, with early buzz hinting at a nearly 10% debut gain.
Seshaasai is a leading card manufacturer
Seshaasai, rebranded in 2024 but around since 1993, builds payment systems and manufactures cards for banks and insurers.
With 24 factories across India and about a third of the market share in card manufacturing, they're also branching out into IoT solutions.
Financials and future plans
Revenue jumped from ₹1,146 crore in FY23 to ₹1,463 crore in FY25, according to expert commentary, with net profit reaching ₹169.28 crore in FY24 (latest available).
The IPO funds will go toward upgrading technology, paying off debt, and expanding premium card lines like metal and biometric cards.
If the company continues to innovate and manage its debt, there could be more growth ahead.