Seshaasai Technologies listing: Shares of Seshaasai Technologies debuted on D-street at a premium over the issue price on Tuesday, September 30. The stock of the technology-driven solutions company opened for trade at Rs 432 on the NSE and Rs 436 on the BSE, representing a premium of 2.13 per cent and 3.07 per cent over the issue price, respectively.
Here’s what market guru Anil Singhvi suggests:
Earlier on Tuesday, Zee Business Managing Editor Anil Singhvi had predicted the stock to list in the price range of Rs 455 to Rs 465 against the issue price of Rs 423.
The issue received an amazing response and was subscribed to 68 times.
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He suggests investors to apply for reasonable listing gains while keeping a stop loss of Rs 445 as a precautionary measure.
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Seshaasai Technologies IPO subscription highlights:
The Seshaasai Technologies IPO saw an overall subscription of 68.13 times the equity on offer, with the portions set aside for qualified institutional buyers (QIBs), non-institutional investors (NIIs) and retail investors booked 189.63, 49.89, and 9.17 times, respectively.
In terms of shares, QIBs bid for 72.61 crore shares against the allotted 38.29 lakh shares, NIIs bid for 14.78 crore shares against the 29.64 lakh shares allotted, and RIIs bid for 6.34 crore shares against the 69.17 lakh shares reserved, according to provisional exchange data.Â
Overall, investors bid for 93.79 crore shares against the 1.37 crore shares on offer.
Seshaasai Technologies IPO details:
The IPO is a book-built issue of Rs 813.07 crore, including a fresh issue of Rs 480 crores and an offer-for-sale (OFS) of Rs 333.07 crores.
Price band: Rs 402 to Rs 423 apiece with a face value of Rs 10 per share
Subscription period: September 23 to September 25
Minimum investment: Rs 14,805 for 35 shares based on the upper price
Seshaasai Technologies company profile:
Founded in 1993, Seshaasai Technologies is a technology-driven solutions company specialising in secure and versatile solutions for various industries, particularly the BFSI sector.
Financially, the company reported a revenue of Rs 1,463 crore in FY25, with a 13 per cent CAGR between FY23 and FY25. The Profit After Tax (PAT) stood at Rs 222 crore in FY24 and Rs 169 crore in FY23, with a 43.4 per cent CAGR between FY23 and FY25.
