India’s Banking, Financial Services and Insurance (BFSI) industry is accelerating its growth, driven by the surge in digital transactions and demand for unified fulfilment from banks, insurers, and e-commerce players. In August 2025, UPI transactions exceeded 2000 crores, worth ₹24.85 lakh crore for the first time, showing hyper speed evolution and India’s accelerating digital-payments momentum.
Tapping into this momentum, Seshaasai Technologies Limited, a technology-driven provider of payment, communication, and fulfilment solutions, has launched its ₹813 Cr IPO, with a price band of ₹402-₹423 per share. On the first day itself, the IPO hit above 35% subscription, especially from retail and non-institutional investors, demonstrating early confidence in the company’s growth.
This blog provides a complete insight into the Seshaasai Technologies mainboard IPO, from its timeline and price band to allotment status, grey market premium (GMP), and other details that investors must know.
Seshaasai Technologies Limited IPO Details
Get a quick view of the key details of Seshaasai Technologies IPO.
| IPO Open Date | 23 September 2025 |
| Close Date | 25 September 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹403-₹423 per share |
| Issue size | 1,92,21,603 shares |
| IPO Lot Size | 35 shares |
| Sale Type | Fresh Capital-cum-Offer for sale |
| Offer for Sale | 78,74,015 shares |
| Fresh Issue | 1,13,47,588 shares |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size (₹ Cr) | ₹813.07 Cr Approximately |
| Reserved for Market Maker | Undisclosed |
| Net Offered to Public | Undisclosed |
| Minimum Investment | ₹14,805 |
| Retail Discount | Undisclosed |
Seshaasai Technologies IPO Timeline
Important dates to know about the opening and closing dates, allotment, refund, and listing of the IPO:
| IPO Open Date | 23 September 2025 |
| IPO Closing Date | 25 September 2025 |
| Tentative Allotment | 26 September 2025 |
| Initiation of Refunds | 29 September 2025 |
| Credit of Shares | 29 September 2025 |
| Tentative Listing Date | 30 September 2025 |
| Cut-off Time for UPI Mandate Confirmation | 25 September 2025 |
Seshaasai Technologies IPO Grey Market Premium (GMP Today)
| Date | GMP (₹) | Estimated Listing Price |
| 24 September 2025 | ₹75 | ₹498 |
Seshaasai Technologies IPO Reservation
Here’s how the IPO shares are reserved for investors’ categories.
| Category | Shares Offered | Shares Offered(%) |
| QIB | 95,84,692 | 49.86 |
| NII (HNI) | 28,75,408 | 14.96 |
| Retail | 67,09,285 | 34.90 |
| Employee | 52,219 | 0.27 |
| Total | 1,92,21,604 | 100 |
Seshaasai Technologies Key Performance Indicator (Figures in %)
Here’s a summary of the key performance indicators of Seshaasai Technologies Limited, over the past three years.
| 2025 | 2024 | 2023 | |
| ROE | 34.84 | 39.00 | 37.26 |
| ROCE | 31.87 | 33.47 | 28.65 |
| Debt to Equity Ratio(in times) | 0.37 | 0.52 | 0.84 |
| RoNW | 33.20 | 36.36 | 33.61 |
| PAT Margin | 15.09 | 10.78 | 9.37 |
| EBITDA Margin | 25.13 | 19.30 | 17.98 |
Seshaasai Technologies IPO Financials (Amount in ₹ Cr )
The following table highlights the financial performance of Seshaasai Technologies Ltd. .
| Highlights | 2025 | 2024 | 2023 |
| Revenue | 1,463.15 | 1,558.25 | 1,146.30 |
| Total Asset | 1,160.39 | 958.41 | 782.54 |
| Profit | 222.32 | 169.28 | 108.10 |
Seshaasai Technologies IPO Lot Size
Calculate the investment based on the minimum and maximum bid quantities, depending on the investor’s category.
| Application | Lot Size | Shares | Amount(in ₹) |
| Individual investors (Retail) (Min) | 1 | 35 | 14,805 |
| Individual investors (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
View of promoters’ holding positions before and after the IPO.
| Promoter Holding Pre Issue | 93.21% |
| Promoter Holding Post Issue | 86.67% |
The Promoters of Seshaasai Technologies are Pragnyat Pravin Lalwani and Gautam Sampatraj Jain.
Seshaasai Technologies IPO Anchor Investors Details
In-depth details on the anchor investors reservation.
| Bid Date | 22 September 2025 |
| Shares Offered | 57,52,296 |
| Anchor Portion Size (In ₹ Cr.) | 243.32 |
| Anchor lock-in period end date for 50% shares (30 Days) | 26 October 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | 25 December 2025 |
Seshaasai Technologies IPO Subscription Status
Analyse demand before the final allotment of the shares by monitoring the subscription rate during the Seshaasai Technologies IPO subscription window.
| Day 1 | 1.02x |
| Day 2 | 1.42x |
| Day 3 | (to be announced) |
Seshaasai Technologies IPO Prospectus
Find the official documents for Seshaasai Technologies IPO filed with SEBI.
About Seshaasai Technologies Limited
Founded in: 1993
Managing Director: Pragnyat Pravin Lalwani
Seshaasai Technologies Limited is a technology-driven solutions provider primarily to the banking, financial services, and insurance (BFSI) industry, with a core focus on data security and compliance. They offer large-scale and recurring services through their proprietary platforms, which are significant for the operational needs of the BFSI sector in India. The company also offers Internet of Things (IoT) solutions to a diverse set of customers across various industries.
The company is one of the top two payment card manufacturers in India, holding a market share of 31.9% in 2025 for the issuance of credit and debit cards. The company is also one of the largest manufacturers of cheque leaves in India.
The company’s business verticals comprise Payment Solutions, Communication and Fulfilment Solutions, and IoT solutions.
Objectives of the Seshaasai Technologies
| Fund Utilisation | Amount (in ₹ Cr) |
| Funding capital expenditure for the expansion of existing manufacturing units | 197.91 |
| Repayment and / or prepayment, in part or in full, of certain outstanding borrowings of our Company | 300.00 |
| General corporate purposes | Undisclosed |
Strengths of Seshaasai Technologies
- Market Leader: The company is one of India’s top two payment-card manufacturers, with an increased market share of 31.9% in 2025 from 25% in 2023, showing visible growth.
- Long-Standing Diversified Customer Base: The company is able to retain its existing customers as well as attract new customers over the years. The customer base rose from 355 in 2023 to 702 in 2025, which shows market fit and scalability.
- Technology Platform: The company has developed various technology platforms, such as AI, robotic automation, API frameworks, IoT, and other communication systems, to meet customer requirements. It shows the ability to cope with diverse technological advancements.
- Healthy Financial Performance: The revenue of the company grew from ₹1,146.3 Cr in 2023 to ₹1,558.3 Cr in 2024, and its EBITDA margin improved to 25.13% in 2025.
Risk of Seshaasai Technologies
- Customer Concentration Risk: The company generates a major portion of revenue from a few key customers, which means losing even one of these customers could significantly impact revenue flow.
- IT Infrastructure Vulnerability: the company needs to maintain high security and data protection, for example, maintaining sensitive information of cardholders. Failures in systems or cyber breaches will have a disruptive impact on operations and damage reputation.
- Technologies Obsolescence: With new and advanced technologies emerging rapidly, the company is challenged to continuously update current solutions to maintain the competitive edge.
- Competitive Pressure: The company has a highly competitive market with new products stepping into the market rapidly. If it loses its market share, it will directly impact the financial performance.
Other Recent IPO List
Check out the following IPO’s hitting the market.
| Epack Prefab Technologies IPO | Ganesh Consumer IPO |
| Jain Resource Recycling IPO | Atlanta Electricals IPO |
| Jinkushal Industries IPO | Euro Pratik Sales IPO |
| Solarworld Solutions IPO | Saatvik Energy IPO |
Conclusion
Seshaasai Technologies IPO offers investors a chance to invest in one of India’s top two players in secured payments and fulfillment solutions, when the BFSI and digital payments sector is booming. The diverse verticals, long-standing customer base, and its healthy financial performance show strong growth potential.
However, revenue from limited customers, inability to adapt to technological advancements, and competitive pressure present possible risks. Therefore, investors shall carefully measure both upside and downside before subscribing.
FAQs
Seshaasai Technologies IPO is a mainboard IPO of ₹813 Cr launched by Seshaasai Technologies Limited on 23 September.
Sign in/up to Zerodha Kite, search for ‘Seshaasai Technologies IPO’, and click on the Apply button.
Next, enter your UPI ID.
Enter the Quantity and Price, and tick the declaration box.
Swipe the Submit button and approve the mandate on the UPI app.
The Seshaasai Technologies IPO opens on 23 September 2025 and closes on 25 September 2025.
The lot size for Seshaasai Technologies IPO is 35 shares with a minimum of ₹ 14,805 investment.
Investors can apply for Seshaasai Technologies IPO through UPI or brokers’ platforms such as Zerodha, Groww, etc.
The tentative allotment for Seshaasai Technologies IPO is scheduled on 26 September 2025.
30 September 2025 is scheduled for the listing of Seshaasai Technologies IPO.
