Seshaasai Technologies Aims to Raise Rs 813 Crore in Upcoming IPO
Seshaasai Technologies, a BFSI sector tech solutions provider, is launching its IPO from September 23-25. The company aims to raise Rs 813.07 crore through a book-built issue with a price band of Rs 402-423 per share. The IPO comprises a fresh issue of Rs 480 crore and an offer for sale of Rs 333.07 crore. The grey market premium suggests a potential listing price of Rs 536, indicating a 26.71% gain. For FY ended March 31, the company reported a total income of Rs 1,473.62 crore and PAT of Rs 222.32 crore. IPO proceeds will be used for capital expenditure, debt repayment, and general corporate purposes.
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Seshaasai Technologies, a tech-driven solutions provider for the BFSI sector, is set to launch its Initial Public Offering (IPO) on September 23. The company aims to raise Rs 813.07 crore through a book-built issue, offering services in payments, communications, and fulfillment.
IPO Details
| Item | Detail |
|---|---|
| Issue Opens | September 23 |
| Issue Closes | September 25 |
| Expected Listing Date | September 30 |
| Price Band | Rs 402 - Rs 423 per share |
| Issue Size | Rs 813.07 crore |
| Fresh Issue | Rs 480.00 crore |
| Offer for Sale | Rs 333.07 crore |
Grey Market Premium
The grey market is showing a premium of Rs 113 for Seshaasai Technologies shares, suggesting an estimated listing price of Rs 536. This indicates potential gains of 26.71% for investors.
Financial Performance
For the financial year ended March 31, Seshaasai Technologies reported:
| Item | Amount |
|---|---|
| Total Income | Rs 1,473.62 crore |
| Profit After Tax | Rs 222.32 crore |
Utilization of IPO Proceeds
The company plans to use the funds raised from the fresh issue for:
- Capital Expenditure: Rs 197.91 crore
- Debt Repayment: Rs 300.00 crore
- General Corporate Purposes
About Seshaasai Technologies
Seshaasai Technologies positions itself as a tech-driven solutions provider catering to the Banking, Financial Services, and Insurance (BFSI) sector. The company offers a range of services including payments, communications, and fulfillment solutions.
Investors interested in the BFSI technology space may want to review the company's red herring prospectus and consult with financial advisors to assess the potential risks and rewards of this investment opportunity.
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