Seshaasai Technologies Limited, one of the leading players in payment, communication, and fulfillment solutions provider has received final approval from the market regulator, the Securities and Exchange Board of India (SEBI), to float its initial public offering (IPO) for fundraising.
Seshaasai Technologies Limited had filed its draft red herring prospectus (DRHP) with SEBI on December 27, 2024. Seshaasai Technologies IPO will comprise a fresh issue of equity shares aggregating up to ₹600 crore, along with an offer for sale (OFS) of up to 39,37,008 shares by Pragnyat Pravin Lalwani and 39,37,007 shares by Gautam Sampatraj Jain. Seshaasai may also consider a pre-IPO placement of securities worth up to ₹120 crore, in consultation with its Book Running Lead Managers (BRLMs). If executed, the amount raised through this route will be adjusted against the fresh issue portion of the IPO.
The IPO is being managed by IIFL Capital Services Limited, ICICI Securities Limited, and SBI Capital Markets Limited as BRLMs, with Link Intime India Private Limited serving as the registrar. The equity shares are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited (NSE).
Seshaasai Technologies is a Mumbai based provider of payment, communication, and fulfillment solutions, primarily catering to the banking, financial services, and insurance (BFSI) sector. The company’s offerings are centered around robust data security and regulatory compliance. Utilising proprietary technology platforms, Seshaasai delivers scalable, recurring services that are essential for BFSI operations in India. Additionally, it provides Internet of Things (IoT) solutions to clients across diverse industries.
Financially, the company has demonstrated impressive growth. Its standalone revenue from operations grew at a CAGR of 52.21%, increasing from ₹672.56 crore in FY 2022 to ₹1,558.26 crore in FY 2024. During the same period, net profit jumped from ₹37.35 crore to ₹169.28 crore, marking a CAGR of 112.88%.
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Published on: Apr 17, 2025, 8:47 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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