Seshaasai Tech IPO to open on Sept 23: Check price band, issue size and more

Seshaasai Tech has set a price band of ₹402–423 per share for its initial public offering (IPO), which will open for subscription on September 23 and close on September 25. Investors can bid for a minimum of 36 shares in one lot and in multiples thereof.

The IPO comprises a fresh issue of shares worth ₹480 crore and an offer for sale (OFS) of 78.7 lakh shares aggregating to ₹333 crore, taking the total issue size to ₹813 crore.

The IPO share allotment is expected to be finalised on September 26, with

a tentative listing on the BSE and NSE on September 30.

Last month, the Mumbai-based company raised ₹120 crore in pre-IPO placement. At the time, the company issued 2.84 million equity shares at ₹423 each, which included a ₹413 premium per share. The round drew participation from marquee investors such as Tata AIG General Insurance, VQ FasterCap Fund II, and Valuequest India G.I.F.T Fund.

Founded in 1993, Seshaasai Tech offers payments, inventory management, secure communications solutions across industries such as banking, financial services, insurance, government, retail, supply chain and manufacturing, health and pharma, and renewable energy. 

Its clientele include over 60 banking customers ranging from the State Bank of India, Axis Bank, ICICI Bank, and Canara Bank to fintech startups like Jupiter, Niyo, and Fi among others, per the company's website.  

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