Seshaasai Technologies IPO

IPO Details

Bidding Dates

23 Sep '25 - 25 Sep '25

Minimum Investment

₹14,805/ 1 Lot (35 Shares)

Price Range

₹402 to ₹423

Maximum Investment

₹1,92,465/ 13 Lot (455 Shares)

Retail Discount

To be announced

Issue Size

₹813.07 Cr

Investor category and sub category

Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) |

Seshaasai Technologies IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Sep 23, 25

IPO Closing Date

Sep 25, 25

Basis of Allotment

Sep 26, 25

Initiation of Refunds

Sep 29, 25

IPO Listing Date

Sep 30, 25

Seshaasai Technologies IPO Details

Seshaasai Technologies IPO is a book-built issue worth ₹813.07 crore. The issue is a combination of fresh issue and offer for sale (OFS). The company intends to raise ₹480.00 crore from fresh issue by issuing 1.13 crore shares while OFS will include 0.79 crore shares aggregating to ₹333.07 crore. The IPO will open for subscription on September 23, 2025, and close on September 25, 2025.

The basis of allotment is expected to be finalised on September 26, 2025, with tentative listing scheduled on BSE and NSE for September 30, 2025. The price band for the Seshaasai Technologies IPO has been fixed between ₹402 to ₹423 per share.

Investors can bid for Seshaasai Technologies IPO with a minimum of 1 lot of 35 shares. For retail investors, the minimum investment required is ₹14,805. For small non-institutional investors (sNII), the lot size stands at 14 lots, equal to 490 shares, amounting to ₹2,07,270. For big non-institutional investors (bNII), the lot size is 68 lots, which translates to 2,380 shares, requiring an investment of ₹10,06,740.

IIFL Capital Services Ltd. is the book running lead manager (BRLM) and MUFG Intime India Pvt Ltd is the registrar of the issue. Detailed information is available in the Seshaasai Technologies IPO RHP.

Seshaasai Technologies IPO Objectives

The company will deploy the funds raised from the fresh issue portion of the public issue towards following:

Re-payment/pre-payment, in full or in part, of certain borrowings availed by the Company.
Funding Capital expenditure for the expansion of existing manufacturing units.&nbsp
General Corporate Purposes.

The funds raised from the offer for sale (OFS) will be taken over by the selling shareholders.

About Seshaasai Technologies Limited

Established in 1993, Seshaasai Technologies Limited is a technology-led, multi-location solutions provider with a strong focus on the banking, financial services, and insurance (BFSI) sector. The company specializes in secure payment solutions, omnichannel communication, and fulfilment services, offering innovative, scalable technologies tailored to the evolving needs of its clients.

With proprietary platforms at the core of its offerings, Seshaasai delivers recurring, enterprise-grade solutions that power critical operations across the BFSI ecosystem in India. In addition to its BFSI-centric services, the company also provides IoT-enabled solutions for a diverse clientele spanning industries such as retail, logistics, and manufacturing.

The company’s facilities are accredited by global and national standards, including NPCI, PCI, and IBA, for the secure manufacturing of payment cards, cheques, and data handling—ensuring full compliance with international IT, cyber, and physical security protocols.

Core Business Segments

Payment Solutions: Seshaasai provides a comprehensive suite of secure payment instruments, including debit, credit, prepaid, and transit cards, as well as wearable payment devices, merchant QR codes, cheques, and secure transaction stationery.
Communication & Fulfilment Services: Through its proprietary Rubic omnichannel platform, the company delivers seamless communication services across both print and digital mediums. This includes the processing and distribution of account statements, compliance documents, and customer communication for banks, insurance companies, mutual funds, depositories, and other financial entities—customized in physical or digital formats based on customer preferences.
IoT Solutions: Seshaasai’s IoT division provides RFID and NFC-enabled solutions, including passive RFID tags, smart labels, and readers—designed to enhance supply chain visibility, inventory management, and product authentication.

Industry Outlook

India's insurance industry is witnessing strong momentum, with total premiums expected to grow from ₹10.4 trillion in FY2023 to ₹26.6 trillion by FY2030, at a CAGR of 14.4%. Life insurance is set to outpace non-life, driven by increased awareness, rising incomes, and regulatory initiatives promoting financial inclusion.
The broader financial services ecosystem, including mutual funds, wealth management, insurance, and banking, continues to thrive, supported by digital adoption, regulatory reforms, and rising disposable incomes, positioning India as one of the fastest-growing financial markets globally.
India’s high-net-worth individual (HNWI) population is projected to more than double from 763,000 in FY2022 to 1.66 million by 2027, fueling demand for asset management, tax planning, and personalised financial services, thereby driving deeper engagement across financial product categories.
The transition toward a cashless economy is accelerating, with widespread adoption of EMV chip cards, contactless/NFC-enabled payments, and QR-based solutions. This evolution is reshaping consumer behavior and strengthening the backbone of India’s digital payment infrastructure.

How To Apply for the Seshaasai Technologies IPO Online?

Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
Locate the IPO Section: Navigate to the 'IPO' section on the platform.
Select IPO: Find and select the Seshaasai Technologies IPO from the list of open IPOs.
Enter the Lot Size: Specify the number of lots you want to bid for.
Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How To Check the Allotment Status of Seshaasai Technologies IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Seshaasai Technologies IPO

9, Lalwani Industrial Estate 14, Katrak Road, Wadala (West), Mumbai – 400 031, Maharashtra, India.

Phone: +91 22 6627 0927

E-mail: companysecretary@seshaasai.com

Seshaasai Technologies IPO Reservation

Application Category	Maximum Bidding Limits	Bidding at Cut-off Price Allowed
Only RII (Retail Individual Investor)	Up to ₹2 Lakhs	Yes
Only sNII (Small Non-Institutional Investor)	₹2 Lakhs to ₹10 Lakhs	No
Only bNII (Big Non-Institutional Investor)	₹10 Lakhs to NII Reservation Portion	No
Only Employee	Up to ₹5 Lakhs	Yes
Employee + RII/NII	- Employee: Up to ₹5 Lakhs (with possible discount up to ₹2 Lakhs) - RII: Up to ₹2 Lakhs - NII: sNII (>₹2 Lakhs to ₹10 Lakhs), bNII (>₹10 Lakhs)	Yes, for Employee and RII/NII

Seshaasai Technologies IPO Lot Size Details

Application	Lots	Shares	Amount
Retail (Min)	1	35	₹14,805
Retail (Max)	13	455	₹1,92,465
S-HNI (Min)	14	490	₹2,07,270
S-HNI (Max)	67	2,345	₹9,91,935
B-HNI (Min)	68	2,380	₹10,06,740

Seshaasai Technologies IPO Promoter Holding

The promoters of the company are Pragnyat Pravin Lalwani and Gautam Sampatraj Jain.

Share Holding Pre-Issue	93.21%
Share Holding Post Issue&nbsp	-

Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.

Key Performance Indicators for Seshaasai Technologies IPO

KPI	Value
ROE (%)	34.84
ROCE (%)	31.87
EBITDA Margin (%)	25.13
PAT Margin (%)	15.09

Seshaasai Technologies IPO Prospectus

Seshaasai Technologies IPO Registrar and Lead Managers

Seshaasai Technologies IPO Lead Managers

IIFL Capital Services Ltd

Registrar for Seshaasai Technologies IPO

MUFG Intime India Pvt Ltd

Contact Number: +91 81081 14949

Email Address: seshaasaitechnologies.ipo@in.mpms.mufg.com

Financial Performance of Seshaasai Technologies Limited

Particulars	Year ending on March 31, 2025	Year ending on March 31, 2024	Year ending on March 31, 2023
Revenue from Operations (in ₹ million)	14,631.51	15,582.56	11,462.99
EBITDA (in ₹ million)	3,703.65	3,030.10	2,074.27
EBITDA Margin (%)	25.13	19.30	17.98
Profit/loss After Tax (in ₹ million)	2,223.20	1,692.78	1,080.98
PAT Margin (%)	15.09	10.78	9.37
Net Worth (in ₹ million)	6,696.71	4,655.78	3,216.40
Return on Equity (%)	34.84	39.00	37.26

Know before investing

Strengths

Among the top two payment card manufacturers in India, holding a 31.9% market share in FY25, reflecting strong industry positioning.
Long-standing relationships with a diverse and loyal customer base, built through tech-driven, customized service delivery
End-to-end offerings across Payment, Communication, and Fulfilment Solutions, tailored for BFSI and other industries.
In-house developed, proprietary platforms provide bespoke, integrated solutions with a competitive tech advantage.
Operates 24 manufacturing units across seven locations, certified for plastic, metal, biometric, and sustainable card production

Risks

The company is dependent on a limited number of customers for a significant portion of its revenue, exposing it to concentration risk.
The company operates primarily within a limited number of industry verticals, making it susceptible to demand fluctuations in those sectors.
Customer contracts impose extensive compliance obligations; failure to adhere to these may result in contract termination or legal repercussions.
The company is exposed to risks associated with government clients, including changes in policies, budget allocations, and administrative priorities.
Any failure or breach in the company’s IT systems could disrupt operations, compromise data security, and harm its reputation.