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Seshaasai Technologies IPO is a bookbuilt issue of ₹813.07 crore. It combines a fresh issue of 1.13 crore shares aggregating to ₹480.00 crore and an offer for sale of 0.79 crore shares aggregating to ₹333.07 crore.
The IPO opens for subscription on September 23, 2025, and closes on September 25, 2025. The allotment is expected to be finalized on Friday, September 26, 2025. The price band for the IPO is set at ₹402 to ₹423 per share, and the minimum lot size for an application is 35 shares.
Company Summary
Incorporated in 1993, Seshaasai Technologies Limited is a technology-driven, multi-location solutions provider, specializing in payment solutions, as well as communications and fulfilment services, primarily catering to the banking, financial services, and insurance (BFSI) industry.
The company offers scalable, recurring solutions through its proprietary platforms, enabling operations in the BFSI sector in India. Additionally, it provides IoT solutions to a diverse range of customers across various industries.
The company offers a customized portfolio of services through 24 self-sustaining manufacturing units across seven locations in India, equipped with advanced machinery, raw materials, and a skilled workforce to meet local requirements.
The company’s units are certified by global payment schemes, NPCI, PCI, and IBA for payment card production, data security, and cheque manufacturing, ensuring compliance with IT, cyber, and physical security standards.
As of June 30, 2025, the company had 862 permanent employees.
Company business operations
- Payment Solutions: The company offers payment instruments such as debit, credit, prepaid, and transit cards, wearables, merchant QRs, cheques, and secure transaction stationery to banks, fintech companies, and other issuers in the public and private sectors.
- Communication and Fulfilment Solutions: The company offers omni-channel communication solutions via its Rubic platform, providing print and digital services for banks, insurance companies, AMCs, depositories, and financial institutions, including account statements, compliance communication, and customer requests in physical or digital formats.
- IoT Solutions: The company offers IoT-powered RFID and NFC solutions, including passive RFID tags, labels, and readers, to optimize supply chain management, product authenticity, and real-time data across industries like retail, manufacturing, and logistics.
Technology Platforms
- RUBIC: RUBIC is a data processing platform that personalizes outputs, integrates with systems, and supports secure communication and IoT solutions.
- eTaTrak: eTaTrak is an AI-powered logistics solution that tracks deliveries in real-time, ensuring accurate billing and enhanced service delivery.
- IOMS: IOMS is a web-based order and inventory management platform, streamlining ordering processes and reducing costs by consolidating transactions.
Company Strengths
- Established Leadership Position in the Large and Regulated Payment Solutions Industry with High Barriers to Entry
- Long-standing relationships with a Large Customer Base
- Comprehensive Portfolio of Customizable and Scalable Solutions
- Proprietary Technology Stack Enabling Bespoke Solutions
- Pan-India Advanced Manufacturing Capabilities
- Track Record of Healthy Financial Performance
- Experienced Promoters and Senior Management Team backed by a Committed Employee Base.
Company Financials
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 1,160.39 | 958.41 | 782.54 |
| Total Income | 1,473.62 | 1,569.67 | 1,153.84 |
| Profit After Tax | 222.32 | 169.28 | 108.1 |
| EBITDA | 370.37 | 303.01 | 207.43 |
| Net Worth | 669.67 | 465.58 | 321.64 |
| Reserves and Surplus | 490.52 | 286.43 | 201.29 |
| Total Borrowing | 378.68 | 350.24 | 311.99 |
| Amount in ₹ Crore | |||
Objectives of IPO
- Funding capital expenditure for the expansion of existing manufacturing units
- Repayment and/or prepayment, in part or in full, of certain outstanding borrowings of the Company
- General corporate purposes
Promoters of the company
Pragnyat Pravin Lalwani and Gautam Sampatraj Jain are the promoters of the company.
IPO Details
| IPO Date | September 23, 2025 to September 25, 2025 |
| Listing Date | September 30, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹402 to ₹423 per share |
| Lot size | 35 shares |
| Total Issue size | 1,92,21,603 shares (aggregating upto ₹813.07 Cr ) |
| Fresh Issue | 1,13,47,588 shares (aggregating upto ₹480.00 Cr ) |
| Offer for Sale | 78,74,015 shares of ₹10 (aggregating upto ₹333.07 Cr ) |
| Issue type | Bookbuilding IPO |
| Listing at | NSE, BSE |
| Share Holding Pre Issue | 15,04,53,300 shares |
| Share Holding Post Issue | 16,18,00,888 shares |
Category Reservation Table
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
| Only RII | Upto Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Upto Rs 5 lakhs | Yes |
| Employee + RII/NII | 1. Employee limit: Upto Rs 5 lakhs (In certain cases, employees are given a discount if the bidding amount is upto Rs 2 Lakhs) 2. If applying as RII: Upto Rs 2 Lakhs 3. If applying as NII: sNII > Rs 2 Lakhs and upto Rs 10 Lakhs, and bNII > Rs 10 lakhs | Yes for Employee and RII/NII |
Lot Allocations Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 35 | ₹14,805.00 |
| Retail (Max) | 13 | 455 | ₹1,92,465.00 |
| S-HNI (Min) | 14 | 490 | ₹2,07,270.00 |
| S-HNI (Max) | 67 | 2,345 | ₹9,91,935.00 |
| B-HNI (Min) | 68 | 2,380 | ₹10,06,740.00 |
Allotment Schedule
| Basis of Allotment | Fri, 26 Sep, 2025 |
| Initiation of Refunds | Mon, 29 Sep, 2025 |
| Credit of Shares to Demat | Mon, 29 Sep, 2025 |
| Tentative Listing Date | Tue, 30 Sep, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2025 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
To check allotment, click here
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