Seshaasai Technologies Unveils Rs 813 Crore IPO with Price Band of Rs 402-423
Seshaasai Technologies Ltd. has announced its IPO with a price band of Rs 402-423 per share, aiming to raise up to Rs 813 crore. The offering includes an OFS of 78.7 lakh shares worth Rs 333 crore and a fresh issue of Rs 480 crore. The IPO opens on September 23 and closes on September 25, with a minimum investment of Rs 14,805 for 35 shares. The company has already raised Rs 42 crore from anchor investors. Funds will be used for manufacturing expansion, debt repayment, and corporate purposes. The IPO is managed by ICICI Securities, BNP Paribas, IIFL Capital Services, and SBI Capital Markets.
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Seshaasai Technologies Ltd., a technology company specializing in payment services, communications, and fulfillment solutions, has announced its Initial Public Offering (IPO) with a price band of Rs 402 to Rs 423 per share. The IPO, valued at up to Rs 813 crore, is set to open on September 23 and close on September 25.
IPO Structure and Details
The IPO comprises two components:
- An offer for sale (OFS) of 78.7 lakh shares worth Rs 333 crore
- A fresh issue amounting to Rs 480 crore
Investors can participate with a minimum investment of Rs 14,805 for a lot size of 35 shares. The company's promoters, Pragnyat Pravin Lalwani and Gautam Sampatraj Jain, will be offloading shares through the OFS.
Pre-IPO Funding
Ahead of the public offering, Seshaasai Technologies has successfully raised Rs 42 crore from anchor investors, including Tata AIG General Insurance Co. and ValueQuest India. This pre-IPO funding demonstrates investor confidence in the company's potential.
Key Dates
| Event | Date |
|---|---|
| IPO Opening | September 23 |
| IPO Closing | September 25 |
| Share Allotment | September 26 |
| Listing Date | September 30 |
Use of Proceeds
The funds raised through the IPO will be utilized for:
- Expanding manufacturing capabilities
- Repaying existing debt
- General corporate purposes
Lead Managers
The IPO is being managed by a consortium of financial institutions:
- ICICI Securities
- BNP Paribas
- IIFL Capital Services
- SBI Capital Markets
Company Profile
Seshaasai Technologies Ltd. is a technology-driven company that primarily caters to the banking, financial services, and insurance sectors. The company's core offerings include payment services, communications solutions, and fulfillment services, positioning it as a key player in the financial technology space.
This IPO presents an opportunity for investors to participate in the growth story of a company operating at the intersection of technology and financial services. Potential investors are advised to carefully review the offer document and consider their financial objectives before making an investment decision.
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