Seshaasai Technologies IPO: Technology solutions company Seshaasai Technologies is set to launch its initial public offering (IPO) next week with an aim to raise over ₹800 crore from the primary markets.
Seshaasai Technologies is a technology-driven solutions company empowering payments, communication, and IoT. The company manages information throughout its entire lifecycle, from creation to dissemination, ensuring its effective use to drive business outcomes, It utilises robotic automation, big data, RFID and more to develop unique solutions.
Seshaasai Technologies IPO Details
Seshaasai Technologies IPO will open for subscription on Tuesday, September 23, and close on Thursday, September 25. Seshaasai Technologies IPO price band has been fixed at ₹402 to ₹423 per share. The floor price is 40.20 times the face value of ₹10 each. A discount of ₹40 per equity share is offered to eligible employees bidding in the employee reservation portion.
At the upper-end of the price band, the company plans to raise ₹813 crore from the public issue, which is a combination of a fresh issue worth ₹480 crore, and an offer-for-sale (OFS) component of over 78.74 lakh equity shares amounting to ₹333 crore. The post-issue implied market capitalization of the company would be ₹6,528 crore – ₹6,844 crore.
Seshaasai Technologies IPO lot size is 35 shares, and the minimum investment amount by retail investors would be ₹14,805.
The company has reserved 50% of the offer for Qualified Institutional Buyers (QIB), 15% for the Non-Institutional Investors (NII), and 15% for the retail investors category.
The anchor investors’ bidding date is September 22, Monday. Seshaasai Technologies IPO allotment date will likely be September 26, and the tentative IPO listing date is September 30.
IIFL Capital Services, ICICI Securities and SBI Capital Markets are the book running lead manager and MUFG Intime India Pvt. Ltd. is the Seshaasai Technologies IPO registrar.
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