Seshaasai Technologies to open ₹813cr IPO on September 23
Seshaasai Technologies, known for its tech-powered payment solutions, is opening its ₹813 crore IPO from September 23-25.
Shares are priced between ₹402 and ₹423 each, with the offer including both new shares (₹480cr) and a sale of existing ones (₹333cr).
What does the company do?
Seshaasai makes secure payment cards—think debit, credit, prepaid, and metro cards—and also prints cheques with customer data.
For FY25, they posted revenues of ₹1,463.15 crore and a net profit of ₹222.32 crore.
Details of the offer
Money raised will go toward expanding manufacturing (₹198cr), paying off debt (₹300cr), and general needs.
50% of the IPO is reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for Non-Institutional Investors (NIIs).
Minimum bid: 35 shares. Shares should hit the stock market on September 30, 2024.