Seshaasai Technologies Launches ₹813-Crore IPO in ₹402-423 Price Band

Payments solutions provider Seshaasai Technologies enters the IPO market today with an ₹813-crore offering, priced between ₹402-423 per share. The issue comprises a fresh equity raise of ₹480 crore and an offer-for-sale component of 78.74 lakh shares worth ₹333 crore. Subscription runs through Thursday.

Allocations favor institutional investors, with 50% reserved for QIBs, while retail participants get 35% and non-institutional buyers 15%. Employees receive a ₹40 per share discount. Anchor investors including Nippon India MF and ICICI Prudential MF have already committed ₹243.3 crore.

Proceeds will fund manufacturing expansion (₹198 crore), debt repayment (₹300 crore), and general corporate purposes. The company specializes in secure payment instrument production, embedding customer data onto cards and checks for financial institutions.