Seshaasai Technologies Secures Rs 243.3 Crore from Anchor Investors in Pre-IPO Round
Seshaasai Technologies, a tech solutions provider for payment services, communications, and fulfillment, has raised ₹243.3 crore from 17 anchor investors. The company allotted 57.52 lakh shares at ₹423 per share. The IPO includes an offer for sale of 78.7 lakh shares worth ₹333 crore and a fresh issue of ₹480 crore. Funds will be used for manufacturing expansion, debt repayment, and corporate purposes. The company, serving banking and insurance sectors, reported revenue of ₹1,463.15 crore and profit of ₹222.32 crore.
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Seshaasai Technologies, a provider of technology solutions for payment services, communications, and fulfillment, has successfully raised Rs 243.3 crore from anchor investors ahead of its initial public offering (IPO). The company allotted 57.52 lakh shares at Rs 423 per share to 17 investors, setting the stage for its upcoming public listing.
Anchor Investment Highlights
| Metric | Value |
|---|---|
| Total Funds Raised | Rs 243.3 crore |
| Number of Shares Allotted | 57.52 lakh |
| Price per Share | Rs 423.00 |
| Number of Investors | 17 |
Key Investors
The anchor book saw significant participation from domestic mutual funds and financial institutions:
- Nippon Life India Trustee and ICICI Prudential Banking funds each received the highest allocation of 10.27%
- Nine domestic mutual funds secured 62.60% of the anchor portion through 11 schemes
IPO Details
The upcoming IPO of Seshaasai Technologies comprises two components:
- Offer for Sale: 78.7 lakh shares worth Rs 333 crore
- Fresh Issue: Rs 480 crore
Promoters Pragnyat Pravin Lalwani and Gautam Sampatraj Jain will be selling shares as part of the offer for sale.
Investment and Listing Information
| Detail | Value |
|---|---|
| Minimum Investment | Rs 14,805.00 |
| Minimum Shares | 35 |
| Share Allotment Date | September 26 |
| Expected Listing Date | September 30 |
Use of Proceeds
The funds raised from the fresh issue will be utilized for:
- Manufacturing expansion
- Debt repayment
- Corporate purposes
Company Overview
Seshaasai Technologies specializes in providing technology solutions for:
- Payment services
- Communications
- Fulfillment
The company primarily serves the banking and insurance sectors.
Financial Performance
Seshaasai Technologies reported:
| Metric | Value |
|---|---|
| Revenue | Rs 1,463.15 crore |
| Profit | Rs 222.32 crore |
The strong anchor book and diverse investor interest suggest a positive outlook for Seshaasai Technologies' upcoming IPO.
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