Allotment of Seshaasai Tech IPO shares is anticipated on September 26; listing is set for September 30.
The public subscription period for Seshaasai Technologies’ initial public offering (IPO) will commence on the main market at 10 a.m. The business collected about Rs 250 crore from the key investors the day before. Before the first share sale, you should be aware of the following information.
Important things to be aware of
1) Anchor investors: One day before to the commencement of its initial public offering (IPO) for subscriptions, the payments solutions provider received Rs 243 crore from anchor investors.
2) IPO pricing range: The price range for each share of the issuance is Rs 402-423.
3) IPO dates: From September 23 to September 25, the public will be able to subscribe for the first share offering.
4) IPO details: The IPO consists of an Offer For Sale (OFS) component of 78.74 lakh shares priced at Rs 333 crore at the higher end and a new issuance of shares for Rs 480 crore.
5) IPO size: Rs 813 crore is the overall issue amount.
6) IPO Goal: Rs 198 crore of the proceeds from the new issuance would go towards expanding the company’s current production facilities, Rs 300 crore towards debt repayment, and the remaining amount towards general corporate uses.
7) About the business: Seshaasai Technologies is a technology-driven multi-location solutions provider that provides services for fulfillment, payments, and communications. It creates and designs products including checks, mass transport cards, debit cards, credit cards, and prepaid cards, securely encoding consumer information on them before delivering them to final consumers.
8) IPO GMP: Sites that monitor grey market activity indicate that Seshaasai Tech’s shares are fetching a GMP of more than 20% on the unregulated market. Investorgain indicated a listing gain of 20.80% with a GMP of Rs 88 for the company’s shares.
9) Allotment of IPO: It is anticipated that firm shares would be distributed by September 26.
10) Share listing: The company’s shares will go public on the NSE and BSE on September 30.