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Seshaasai Technologies Limited's initial public offering (IPO) achieved full subscription on the second day of bidding, reflecting robust investor interest and confidence in the company’s business and growth prospects. The highly anticipated IPO, which opened on September 23, 2025, aims to raise ₹813.07 crore through a combination of fresh issuance and offer for sale, and its early oversubscription signals strong market appetite ahead of the listing expected on September 30.
Key Highlights Of The Seshaasai Technologies IPO Subscription
The IPO was fully subscribed on the second day of bidding, representing a clear sign of investor enthusiasm.
The price band was set between ₹402 and ₹423 per share, with the minimum application size at 35 shares and multiples thereof.
The initial public offering includes a fresh issue to raise ₹480 crore and an offer for sale (OFS) aimed to generate ₹317-333 crore.
The company raised ₹243.32 crore from 17 anchor investors ahead of the public subscription, allotting shares at the upper price band of ₹423.
The IPO attracted giant investors from retail, institutional, and employee categories, with particularly strong responses from employee and non-institutional investors.
Market observers indicated a grey market premium (GMP) around ₹88, suggesting an estimated listing price near ₹511 per share, reflecting approximately 20.8% expected gains at debuts.
Strong Market Reception Across Categories
Seshaasai Technologies IPO saw impressive traction across investor segments. Employee investors showed exceptional enthusiasm, subscribing over two times on Day 1, demonstrating strong internal belief in the company’s prospects. Non-institutional investors also contributed significantly, while retail participation steadily increased during the bidding period, underscoring confidence from individual investors.
Business Model And Growth Potential
Seshaasai Technologies is a technology-driven solutions provider focusing on payment solutions such as credit/debit cards, including biometric and metal cards, cheque leaves, and secure documents targeted primarily at the banking, financial services, and insurance (BFSI) sector. The company operates 24 manufacturing units across seven locations in India, equipped with advanced technologies and a skilled workforce to cater to domestic and overseas demand.
This diversified portfolio and technological edge position the company to capitalize on the growing digital payment and secure document printing markets propelled by increasing financial inclusion and regulatory compliance.
Utilization Plans And Financial Highlights
The IPO proceeds will be utilized primarily for expansion of manufacturing capacities, capital expenditure to upgrade existing facilities, repayment of certain borrowings, and general corporate purposes. The company posted a consolidated net profit of ₹222.32 crore and revenue of ₹1,463.15 crore for the fiscal year ended March 31, 2025, illustrating sound financial health and operational scale.
Subscription Timeline And Next Steps
The bidding window remains open till September 25, offering last-minute investors an opportunity to participate. The allotment is slated for September 26, with refunds and credit to investor demat accounts scheduled by September 29. Listing of the shares on the BSE and NSE is expected on September 30, setting the stage for a keenly awaited debut.
Investor Outlook And Market Sentiment
The early oversubscription and healthy grey market indications highlight positive sentiment around the IPO, fueled by the company’s strong market positioning and growth narrative. Market experts are optimistic about Seshaasai Technologies’ prospects in the payment solutions sector, anticipating steady growth aligned with the expanding digital economy in India.
Conclusion: A Promising IPO Catching Investor Eye
Seshaasai Technologies’ IPO robust subscription on the second day underscores confidence in the company’s business model and sector outlook. With a strategic focus on cutting-edge payment and fulfillment solutions catering to BFSI, the company is poised for growth. Investors are tracking the listing eagerly, anticipating gains supported by solid fundamentals and operational performance.
Source: ICICI Direct, Groww, Sushil Finance, Moneycontrol, 5paisa
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