Daijiworld Media Network – Mumbai

Mumbai, Sep 30: Seshaasai Technologies Ltd. made a positive debut on the stock market on Tuesday, listing at Rs 436 on the BSE and Rs 432 on the NSE, against its issue price of Rs 423. The shares opened at a premium of 3.1% on the BSE and 2.13% on the NSE, marking a modestly upbeat start for investors.

The company’s Rs 813.07 crore IPO was oversubscribed 68.13 times, receiving bids for 93,79,90,515 shares against 1,37,67,095 shares offered. The allotment was completed on September 26, following a subscription window from September 23 to 25.

The IPO comprised a fresh issue of 1.13 crore shares worth Rs 480 crore and an offer-for-sale of 79 lakh shares totalling Rs 333.07 crore, with the price band fixed at Rs 402–423 per share. The IPO was fully subscribed on the first day and booked over three times on the second day.

The qualified institutional buyers category was subscribed 189.63 times, the non-institutional investor quota 49.89 times, and retail investors 9.17 times. The lot size was 35 shares, requiring a minimum investment of Rs 14,805. IIFL Capital Services Ltd. managed the book running, while MUFG Intime India Pvt. Ltd. served as the registrar.

Founded in 1993, Seshaasai Technologies provides technology-driven solutions in payment, communications, and fulfilment services primarily for the BFSI sector, along with IoT solutions for diverse industries.