Seshaasai Technologies IPO will open for subscription on September 23, 2025, and close on September 25, 2025.
Incorporated in 1993, Seshaasai Technologies Limited is a technology-driven, multi-location solutions provider that specialises in payment solutions, communications, and fulfilment services, catering primarily to the banking, financial services, and insurance (BFSI) sector.
Further details on the IPO will cover the issue size, price band, the business model, recent financial performance, and key risk factors.
Seshaasai Technologies IPO Date
The key pointers for the Seshaasai Technologies IPO dates are:
- Bidding Opening Date: September 23, 2025
- Bidding Closing Date: September 25, 2025
- Allotment Date: September 26, 2025
- Initiation of Refunds (in case of less or no allotment): September 29, 2025
- Shares Credited to Your Demat Account: September 29, 2025
- IPO Listing Date: September 30, 2025
- Listing on Exchange: BSE and NSE
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Seshaasai Technologies IPO Issue Size
Seshaasai Technologies IPO valuation, as denoted by the market capitalisation, stood at ₹6,844.18 crores. Here are the essential details:
- Seshaasai Technologies IPO Price Band: ₹402 to ₹423 per share
- Lot Size: 35 Shares
- Issue Size and Amount: 1.92 crore shares (aggregating up to ₹813.07 crores)
- Fresh Issue and Amount: 1.13 crore shares (aggregating up to ₹480 crores)
- Offer for Sale and Amount: 78 lakh shares of ₹10 (aggregating up to ₹333.07 crores)
Seshaasai Technologies IPO Proceeds Usage
The net proceeds from the Seshaasai Technologies IPO are proposed to be utilised for the following purposes:
- Funding capital expenditure for the expansion of its existing manufacturing units – ₹197.91 crores.
- Repayment or prepayment (in part or in full) of certain outstanding borrowings – ₹300 crores.
- General corporate purposes – remaining balance
Seshaasai Technologies IPO Reservations
Seshaasai Technologies IPO reservations to different investors are:
- For QIBs: Not more than 50% of the Net Offer
- For NIIs: Not more than 15% of the Net Offer
- For Retail Investors: Not less than 35% of the Net Offer
Seshaasai Technologies IPO Lot Size
Seshaasai Technologies IPO lot size is 35 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 35 | 14,805 |
| S-HNI (Min) | 14 | 490 | 2,07,270 |
| B-HNI (Min) | 68 | 2,380 | 10,06,740 |
Seshaasai Technologies IPO Details: Promoter Holding
Pragnyat Pravin Lalwani and Gautam Sampatraj Jain are the promoters of the company.
Seshaasai Technologies Limited: Company Overview
Incorporated in 1993, Seshaasai Technologies Limited is a technology-driven company with a wide presence across India. It focuses on providing payment solutions, communication services, and fulfilment support, mainly for the banking, financial services, and insurance (BFSI) sector.
The company also delivers IoT-based solutions to clients across different industries, making its portfolio diverse and adaptable. The business runs through 24 self-sustaining manufacturing units located in seven Indian cities. These facilities are well-equipped with modern machinery, raw materials, and skilled staff to meet regional requirements.
They are certified by global payment schemes as well as NPCI, PCI, and IBA, which authorise the company to manufacture payment cards, cheques, and other secure instruments while following strict standards of IT, cyber, and physical security.
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Operational Capabilities
Seshaasai’s operations cover three main areas. Its payment solutions include debit, credit, prepaid, and transit cards, along with wearables, merchant QR codes, cheques, and secure stationery, which are supplied to banks, fintechs, and issuers across public and private sectors.
In communication and fulfilment, it uses its proprietary Rubic platform to handle omni-channel services such as account statements, compliance communication, and customer requests, delivered in both print and digital formats.
In the IoT space, the company offers RFID and NFC-enabled tags, labels, and readers that improve supply chain management, ensure product authenticity, and enable real-time data tracking in sectors like retail, manufacturing, and logistics.
List of Platforms
To support these services, the company has developed proprietary platforms. RUBIC is a data-driven platform that integrates with client systems, personalises outputs, and ensures secure communication.
eTaTrak is an AI-powered logistics solution that tracks deliveries in real time, improving billing accuracy and service efficiency. IOMS is a web-based order and inventory management platform that simplifies ordering processes and reduces costs by consolidating transactions. These platforms form the technological backbone of its operations.
Key Strengths
Over time, Seshaasai Technologies has built a strong position in the highly regulated payment solutions industry, where barriers to entry are high.
It has earned the trust of a large customer base through long-term relationships and has established itself as a provider of comprehensive and scalable solutions.
Its proprietary technology stack, nationwide manufacturing presence, and consistent financial performance further strengthen its standing.
Backed by experienced promoters, a skilled management team, and a committed workforce, the company is well placed to expand its reach and benefit from opportunities in the BFSI sector as well as other industries embracing IoT solutions.
Seshaasai Technologies Limited: Financial Performance
Seshaasai Technologies Limited’s key financials for different periods are as follows:
| Particulars (in ₹ Cr) | 31 Mar 2025 | 31 Mar 2024 | YoY Change |
|---|---|---|---|
| Total Income | 1,473.62 | 1,569.67 | -6% |
| Profit After Tax (PAT) | 222.32 | 169.28 | 31% |
| EBITDA | 370.37 | 303.01 | 22% |
| Net Worth | 669.67 | 465.58 | 44% |
| Assets | 1,160.39 | 958.41 | 21% |
| Total Borrowing | 378.68 | 350.24 | 8% |
- Revenue Growth: The company’s total income declined by 6%, reducing from ₹1,569.67 crore in FY24 to ₹1,473.62 crore in FY25, mainly due to lower revenues in certain business segments.
- Profitability: Profit after tax rose sharply by 31%, moving up from ₹169.28 crore in FY24 to ₹222.32 crore in FY25, reflecting stronger margins and improved operational efficiency.
- EBITDA Performance: EBITDA increased by 22%, from ₹303.01 crore in FY24 to ₹370.37 crore in FY25, supported by growth in high-margin services and effective cost management.
- Strengthened Net Worth: Net worth rose by 44%, reaching ₹669.67 crore in FY25 compared to ₹465.58 crore in FY24, driven by retained earnings and consistent profit growth.
- Asset Base: Total assets expanded by 21%, growing from ₹958.41 crore in FY24 to ₹1,160.39 crore in FY25, reflecting the company’s ongoing investments in business capacity.
- Debt Position: Borrowings increased slightly by 8%, from ₹350.24 crore in FY24 to ₹378.68 crore in FY25, maintaining a manageable debt profile while supporting expansion plans.
Seshaasai Technologies IPO Risk Factors
Seshaasai Technologies IPO GMP is ₹113 as of September 22, 2025 (at 11:55). It is expected to list at a 26.71% gain at a price of ₹536. However, GMP is not a safe or assured criterion to bid for an IPO. It is important to do your own analysis before investing in any IPO.
Seshaasai Technologies IPO is exposed to various risk factors that can eventually affect its business and investors’ perception:
- Client Concentration: A large share of revenue comes from a few BFSI clients, so losing them could impact financials.
- Sector Dependency: The company depends heavily on a few industry verticals, and a slowdown in these sectors could hurt growth.
- Contract Compliance: Customer contracts involve strict compliance terms, and non-compliance could lead to penalties or termination.
- Government Projects: Working with government and public sector projects brings added risks and uncertainties.
- IT Systems & Security: Any IT system failure or security breach could disrupt operations and performance.
- Manufacturing Dependence: The business relies on its manufacturing units, and strikes, shutdowns, or wage issues could affect profitability.
For all the insights on Seshaasai Technologies IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for the Seshaasai Technologies IPO easily on the SMC ACE Apply by opening free demat account now.
Frequently Asked Questions – FAQs
1. What are the IPO dates, price band, and listing venue?
The issue opens on September 23, 2025 and closes on September 25, 2025. Allotment is expected on September 26, 2025, with listing on September 30, 2025. The price band is ₹402 to ₹423 per share, and the shares are proposed to list on BSE and NSE.
2. How large is the issue and what is the breakup between Fresh Issue and OFS?
The total issue size is 1.92 crore shares aggregating up to ₹813.07 crores. This includes a fresh issue of 1.13 crore shares up to ₹480 crores and an Offer for Sale of 78 lakh shares up to ₹333.07 crores.
3. How will the company use the IPO proceeds?
Net proceeds are proposed for capital expenditure to expand existing manufacturing units, repayment or prepayment of certain borrowings, and general corporate purposes.
4. What are the key risks to consider before applying?
The company relies on a few big clients and industry sectors, so losing them or a slowdown could impact growth. Strict contract terms, government projects, and security issues also add risks. Plus, heavy dependence on manufacturing means strikes or shutdowns could hurt operations and profitability.
References:
https://seshaasai.com/media-news/wp-content/uploads/2025/09/Seshaasai-Technologies-Limited-RHP.pdf
https://www.investorgain.com/gmp/seshaasai-technologies-ipo-gmp/1438/
Author: All Content is verified by SMC Global Securities.
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