By Ks Badri Narayanan

Copyright thehindubusinessline

Payments solutions provider Seshaasai Technologies’ ₹813-crore IPO opens for public subscription today in the ₹402-423 price band. The IPO, a combination of a fresh issue worth ₹480 crore and an offer-for-sale (OFS) component of 78.74 lakh shares valued at ₹333 crore, will close on Thursday.

Investors can bid for a minimum of 35 equity shares; up to 50 per cent of the IPO is reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors. Besides, the company is offering a discount of ₹40 per share to its employees.

The company on Monday raised over ₹243.3 crore from anchor investors who included Nippon India Mutual Fund (MF), ICICI Prudential MF, UTI MF, Motilal Oswal MF, Sundaram MF and Tata AIG General Insurance Company e.

Proceeds from the fresh issue to the tune of ₹198 crore will be allocated for the expansion of existing manufacturing units, ₹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 ₹1,463.15 crore and profit-after-tax at ₹222.32 crore during fiscal 2025.

ICICI Securities, SBI Capital Markets and IIFL Capital Services are the book-running lead managers of the issue.

Published on September 23, 2025