The initial public offering (IPO) of Seshaasai Technologies is reaching a crucial milestone today, with the share allotment process expected to be finalized. Investors who participated in the Rs 813.00 crore IPO are eagerly awaiting the results, which will determine their allocation of shares.

Subscription Details

The IPO garnered significant interest across investor categories:

Grey Market Premium

In the unofficial grey market, Seshaasai Technologies' shares are commanding a premium of Rs 55.00-56.00. This indicates an estimated listing price of Rs 479.00, compared to the upper price band of Rs 423.00 set for the IPO. If this holds true, it represents a potential gain of 13.24% for successful applicants.

How to Check Allotment Status

Investors can check their allotment status through:

• NSE or BSE websites
• Registrar MUFG Intime India Private Limited's website

IPO Details

The Seshaasai Technologies IPO comprises:

• Fresh issue: Rs 480.00 crore
• Offer-for-sale: Rs 333.00 crore

Use of Proceeds

The company intends to use the IPO proceeds for:

1. Expanding metal card manufacturing capacity
2. Prepaying Rs 300.00 crore in borrowings
3. General corporate purposes

Investors should note that while the grey market premium suggests a positive listing, it is not an official indicator and can be subject to change. The actual listing price will be determined by market forces when the stock begins trading on the stock exchange.

Seshaasai Technologies, a leading provider of technology solutions for the BFSI sector, has concluded its Initial Public Offering (IPO) with a robust response from investors. The IPO, which closed its subscription today, was oversubscribed 3.09 times, signaling strong market interest in the company's shares.

IPO Details

The Rs 813.07 crore IPO comprises a fresh issue of Rs 480.00 crore and an offer-for-sale (OFS) component of Rs 333.07 crore. The price band for the issue was set at Rs 402-423 per share.

Grey Market Premium

The grey market is showing a positive sentiment towards Seshaasai Technologies. The shares are commanding a premium of Rs 55 in the grey market, indicating an estimated listing price of Rs 478. This suggests a potential upside of 13% for investors from the upper end of the price band.

Company Background

Founded in 1993, Seshaasai Technologies has established itself as a specialist in payment solutions and services catering to the Banking, Financial Services, and Insurance (BFSI) sector. The company's long-standing presence in the industry spans nearly three decades.

IPO Timeline

• Allotment Date: September 26, 2023
• Expected Listing Date: September 30, 2023
• Listing Venues: BSE (Bombay Stock Exchange) and NSE (National Stock Exchange)

Subscription Details

The strong oversubscription of 3.09 times reflects investor confidence in Seshaasai Technologies' business model and growth prospects.

Investors and market participants will be keenly watching the stock's performance when it debuts on the BSE and NSE on September 30. The anticipated 13% listing gain, as suggested by the grey market premium, has added to the excitement surrounding this IPO.

As always, investors are advised to consider their financial goals and risk appetite before making investment decisions. The actual listing price and post-listing performance may vary from grey market indications.