Seshaasai Tech IPO subscribed 97% on Day 1, led by NII, retail investors - Check latest GMP

Seshaasai Tech IPO sees robust subscription.

Seshaasai Tech saw heathy subscription on the first day of share sale that began on September 23 in the primary market.

The IPO of the Payments solutions provider Seshaasai Technologies received bids for 1.33-crore shares against 1.42 crore shares on offer, reflecting 97 percent subscription, as per data available with the NSE.

Retail Individual Investors (RIIs) portion garnered 1.13 times subscription, while the quota for non-institutional investors received 1.81 times subscription. Earlier, on Monday, it raised over Rs 243 crore from anchor investors.

The issue, with a price band of Rs 402-423 per share, will be available for public subscription between September 23 to 25.

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Proceeds from the fresh issue to the tune of Rs 198 crore will be allocated for the expansion of existing manufacturing units, Rs 300 crore for payment of debt and the rest for general corporate purposes.

Seshaasai Technologies is a technology-driven multi-location solutions provider offering payment solutions and communications, and fulfilment solutions. It designs and develops instruments such as debit cards, credit cards, prepaid cards, mass transit cards, and cheques, and securely embeds customer data onto them, sending them to end customers. The company's revenue from operations stood at Rs 1,463.15 crore and profit after tax at Rs 222.32 crore during fiscal 2025.

Seshaasai Tech IPO share allotment is expected by September 26, while the listing is scheduled on September 30.

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