Seshaasai Technologies IPO Last Day: Issue Gets 7.91x Subscription So Far; Check GMP & Allotment Date

Seshaasai Technologies IPO GMP Today: The initial public offering (IPO) of Seshaasai Technologies Ltd is going to be closed today, Thursday, September 25. The price has been fixed at Rs 402-423 per share.

Till 12:30 pm on the final day of bidding on Thursday, the Rs 813-crore IPO received a 7.91x subscription, garnering bids for 10,65,76,050 equity shares against 1,34,69,308 equity shares on offer.

The retail and NII participation stood at 5.14x and 18.33x, respectively. The QIB category was subscribed by 4.97x.

Seshaasai Technologies IPO GMP Today

According to market observers, unlisted shares of Seshaasai Technologies Ltd are currently trading at Rs 468 against the upper IPO price of Rs 423. It means a grey market premium or GMP of Rs 45, which is 10.64% over its issue price.

The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

The IPO will be listed on both the BSE and the NSE.

Seshaasai Technologies IPO Allotment Date & Listing Date

The allotment of the IPO will take place on Friday, September 26. Its listing will take place on September 30 on both the BSE and the NSE.

Seshaasai Technologies IPO Details

The IPO is a book build issue of Rs 813.07 crore, comprising a combination of fresh issue of 1.13 crore shares aggregating to Rs 480 crore and an offer for sale of 0.79 crore shares aggregating to Rs 333.07 crore.

Its price band has been fixed at Rs 402.00 to Rs 423.00 per share. The lot size for an application is 35. The minimum amount of investment required by a retail investor is Rs 14,805 (35 shares), based on the upper price. The lot size investment for small NII is 14 lots (490 shares), amounting to Rs 2,07,270, and for big NII, it is 68 lots (2,380 shares), amounting to Rs 10,06,740.

The issue includes a reservation of up to 52,219 shares for employees offered at a discount of Rs 40 to the issue price.

IIFL Capital Services Ltd is the book-running lead manager and MUFG Intime India Pvt Ltd is the registrar of the issue.