Upcoming IPO: Seshaasai Technologies Limited, based on Mumbai, Get Sebi-Knik for Public Edition | Einsmark news

Upcoming IPO: Seshaasai Technologies Limited, based on Mumbai, received final approval from the Securities and Exchange Board of India (Sebi) to start its initial public offer (IPO) for fundraising. The company presented its draft IPO documents to Sebi on December 27, 2024. The proposed stock exchange is from a new issue of shares worth up to 600 crore, along with an offer for sale (OFS) of up to 39,37,008 shares by Pragnyat Pravin Lalwani and up to 39,37,007 shares by Gautam Sampatraj Jain. In addition, in consultation with the book Running Lead Managers (BRLMS), the company can investigate a pre-IPO placement of specified securities of up to a £ 120 crore. If undertaken, the amount raised by this pre-IPO placement will be adjusted against the fresh edition component of the IPO. From the total returns from the new edition, £ 195.33 crore will be allocated to capital expenditure for the expansion of the company’s existing manufacturing facilities, while £ 300 crore will be used for the repayment or prepayment, whether fully or in part, of certain outstanding loans. The remaining funds will be used for general corporate purposes. IIFL Capital Services Limited, ICICI Securities Limited, and SBI Capital Markets Limited act as the book managers for the book for the issue, while Link In Intersge India Private Limited has been appointed as the Registrar. The shares are planned to be listed on both BSE Limited and the National Stock Exchange of India Limited. About Seshaasai Technologies Seshaasai Technologies specializes in providing solutions for payment, communication and fulfillment, which mainly serves the Bank, Financial Services and Insurance Sector (BFSI). The offer was built around strong data security and regulatory compliance. The company uses its own platforms and provides these solutions to scale and on a recurring basis and plays an important role in supporting the operations and service delivery of the BFSI industry in India. In addition, Seshaasai offers Internet of Things (IOT) solutions to a wide variety of customers in different industries. Seshaasai Technologies’ independent revenue from operations increased at a 52.21%CAgr, which rose from £ 672.56 in FY 2024 to £ 1,558,26 crore in FY 2024. For the quarter ended June 30, 2024, the company reported consolidated revenue from £ 360.50 crore operations and a profit after tax of £ 40.49 crore. First published: 16 Apr 2025, 12:58 pm Ist