Seshaasai Technologies Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹402 - ₹423
- Lot size
- 35 shares
- Issue amount
- ₹813.07 cr
- Total subscription
- 2.85×
- Opens
- 23 Sept 2025
- Closes
- 25 Sept 2025
- Allotment
- 26 Sept 2025
- Listing
- 30 Sept 2025
Offer at a glance
Issue overview
- Issue size
- 1,92,21,603 shares
- Face value
- 0
- Minimum investment
- ₹14,070
- Fresh issue
- ₹480 cr
- Offer for sale
- ₹333.07 cr
- Registrar
- Link Intime India Private Ltd (MUFG)
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,805
- Issue type
- Bookbuilding IPO
- Shares before issue
- 15,04,53,300
- Shares after issue
- 16,18,00,888
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 35 | ₹14,805 |
| sHNI | 14 | 490 | ₹2,07,270 |
| bHNI | 68 | 2,380 | ₹10,06,740 |
Share reservation
Subscription & GMP
Subscription by category
Reported 24 Sept 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 1,91,694 | 14,38,285 |
| EMPLOYEES | 0 | 8,060 |
| HNIs(10L +) | 135 | 42,386 |
| HNIs (2-10L) | 1,956 | 82,590 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 162.11 | 28,453.49 |
| FIIs | 0 | 7,663.86 |
| FIs | 0 | 11,467.4 |
| Mutual Funds | 0 | 968.48 |
| Others | 0 | 6,312.03 |
| RETAIL | 283.8 | 2,365.41 |
| NIB | 121.63 | 6,075.74 |
| HNIs 2+ | 40.54 | 1,744.83 |
| HNIs 10+ | 81.09 | 4,330.92 |
| EMPLOYEES | 2.21 | 19.1 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 15.06 | 11.47 | 7.32 |
| ROE | 34.84 | 39 | 37.26 |
| ROCE | 31.87 | 33.47 | 28.65 |
| RONW | 33.2 | 36.36 | 33.61 |
| PRE IPO(PE) | 28.63 | 0 | 0 |
| POST IPO(PE) | 30.79 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Seshaasai Technologies Limited, founded in 1993, is a multi-location technology solutions provider specializing in payment solutions, communication, and fulfilment services, primarily for the BFSI sector. The company is among India’s top two payment card manufacturers with a 34.5% market share in FY 2024 and is also a leading producer of cheque leaves. With 24 manufacturing units across seven locations, it delivers debit, credit, prepaid and transit cards, wearables, merchant QRs, cheques, and secure stationery, alongside omni-channel communication services through its Rubic platform. It also provides IoT solutions like RFID and NFC tags for supply chain, authenticity, and real-time tracking, supported by proprietary platforms such as Rubic, eTaTrak, and IOMS. Certified by global payment schemes, NPCI, PCI, and IBA, the company ensures compliance with stringent security standards and, as of November 2024, employed 817 people.
Strengths
- Industry Leadership – Established position in the regulated, high-entry-barrier payment solutions sector.
- Strong Customer Relationships – Long-standing partnerships with a wide customer base across the BFSI segment.
- Comprehensive Solutions Portfolio – End-to-end, customizable, and scalable offerings catering to diverse client needs.
Risk factors
- Client Concentration Risk – Heavy reliance on a few key customers makes revenues and profitability vulnerable to loss or reduced business from them.
- Sector Dependence – Revenue concentration in limited industry verticals exposes the company to demand slowdowns in these sectors.
- Compliance & Contractual Obligations – Stringent customer contract requirements carry risks of penalties, termination, and reputational damage if not met.
Promoters
Pragnyat Pravin Lalwani
Gautam Sampatraj Jain
Registrar & documents
Lead manager
IIFL Capital Services Limited, ICICI Securities Limited, SBI Capital Markets Limited
Registrar & contacts
Link Intime India Private Ltd (MUFG)
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
9, Lalwani Industrial Estate, 14, Katrak Road, Wadala (West), Mumbai, Maharashtra, 400031
+91 22 6627 0927
[email protected]Company website ↗Understanding STYL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.