- Price band
- To be announcedNot in this filing
- Issue size
- To be announcedAmount set with price
- Face value
- ₹10per equity share
- Lot size
- To be announcedMin. investment shown once set
- Anchor biddingMon, 2025
- OpensTue, 2025
- ClosesThu, 2025
- AllotmentFri, 2025
- ListingTue, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- —
- Offer for sale
- 78,74,015 shares
- Total issue
- —
- Face value
- ₹10
- Listing at
- NSE, BSE
- RHP date
- 16 Sept 2025
Source: Red Herring Prospectus dated 16 Sept 2025Updated
Reservation
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | — | — | 35% |
| Non-institutional investors (NII) | — | — | 15% |
| Qualified institutional buyers (QIB) | — | — | 50% |
| Employees | — | — | — |
Source: Red Herring Prospectus dated 16 Sept 2025Updated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25, pre-issue- EPS (basic)
- ₹15.06
- EPS (diluted)
- ₹15.06
- RoNW
- 33.20%
- NAV per share (As at March 31, 2025)
- ₹45.37
- ROCE
- 31.87%
- EBITDA margin
- 25.13%
P/E and market cap are calculated once the price band is announced.
Source: Red Herring Prospectus dated 16 Sept 2025Updated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|
| Revenue from operations | 1,463.15 | 1,558.26 | 1,146.30 |
| Total income | 1,473.62 | 1,569.67 | 1,153.84 |
| EBITDA | 370.37 | 303.01 | 207.43 |
| Profit after tax | 222.32 | 169.28 | 108.10 |
| Net worth | 669.67 | 465.58 | 321.64 |
| Reserves and surplus | 490.52 | 286.43 | 201.29 |
| Total assets | 1,160.39 | 958.41 | 782.54 |
| Total borrowing | 378.68 | 350.24 | 311.99 |
FY 2024-25 vs FY 2023-24: revenue −6.1%, profit after tax +31.3%.
Source: Red Herring Prospectus dated 16 Sept 2025Updated
About the company
The company is a technology-driven, multi-location provider of payment instruments such as cards and cheques, secure communication and fulfilment services, and RFID-based IoT solutions. Its main customers are in banking, financial services and insurance. It operates manufacturing units across several Indian cities.
- Incorporated
- 1993
- Industry
- Payments and Communication Solutions
- Sector
- Financial Services
- CIN
- U21017MH1993PLC074023
- Website
- seshaasai.com
Source: Red Herring Prospectus dated 16 Sept 2025Updated
Promoters and shareholders
| Name | Type | Before issue | After issue | Shares offered |
|---|---|---|---|---|
| Pragnyat Pravin Lalwani | Promoter | 46.60% | — | 39,37,008 |
| Gautam Sampatraj Jain | Promoter | 46.60% | — | 39,37,007 |
| Gautam Jain HUF | Promoter group | — | — | — |
| Sunita Gautam Jain | Promoter group | — | — | — |
| Pranati Ratnadeep Patil | Promoter group | — | — | — |
| Florintree Nextech LLP | Public | 4.38% | — | — |
| Tata AIG General Insurance Company Limited | Public | 0.94% | — | — |
| Gopesh Vijayraj Modi | Public | 0.49% | — | — |
| VQ FasterCap Fund II | Public | 0.47% | — | — |
| Valuequest India G.I.F.T Fund | Public | 0.47% | — | — |
| Neelesh Garg | Public | 0.04% | — | — |
Source: Red Herring Prospectus dated 16 Sept 2025Updated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Capital expenditure to expand existing manufacturing units (equipment purchase) | 197.91 |
| Repayment or prepayment of certain outstanding borrowings | 300.00 |
| General corporate purposes | Set with price |
Source: Red Herring Prospectus dated 16 Sept 2025Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- Ranked among the top two payment card manufacturers in India by its stated share of credit and debit card issuance in FY2025.
- Offers a combined range of payment, communication and fulfilment, and RFID-based IoT solutions.
- Has proprietary software platforms that process customer data and manage logistics.
- Has manufacturing units across several Indian locations.
- Revenue and profit after tax rose over the three years shown in the restated financials, although FY2025 revenue fell from FY2024.
Risks
- A large share of revenue comes from a small number of customers, with the top 10 accounting for about 66% of FY2025 revenue.
- Most revenue is concentrated in the banking, financial services and insurance sector, so a sector downturn would hit the business.
- Customer contracts carry extensive compliance terms, and breaches can lead to penalties or termination.
- Part of the Net Proceeds is planned for equipment for which orders have not yet been placed, so cost or timing overruns are possible.
- The company has contingent liabilities, including pending tax and indirect tax disputes totalling about ₹ 112 million on the summary table.
Source: Red Herring Prospectus dated 16 Sept 2025Updated
Contacts
Source: Red Herring Prospectus dated 16 Sept 2025Updated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: Red Herring Prospectus dated 16 Sept 2025Updated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on NSE and BSE.
Frequently asked questions
When does the Seshaasai Technologies IPO open and close?
According to the Red Herring Prospectus, the issue opens on Tuesday, 23 September 2025 and closes on Thursday, 25 September 2025.
What is the Seshaasai Technologies IPO price band?
The Red Herring Prospectus does not include a price band. The company announces it by advertisement before the issue opens, and this page is updated when it is filed.
Where will Seshaasai Technologies shares list?
On NSE and BSE. The tentative listing date is Tuesday, 30 September 2025.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the Seshaasai Technologies IPO allotment status?
The basis of allotment is expected to be finalised on Friday, 26 September 2025. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹197.91 Cr for capital expenditure to expand existing manufacturing units (equipment purchase), ₹300 Cr for repayment or prepayment of certain outstanding borrowings, and the rest for the other stated purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.