Here are the full details of the Seshaasai Technologies Limited IPO, based on the latest available information:
Seshaasai Technologies IPO is a book build issue of ₹813.07 crores. The issue is a combination of fresh issue of 1.13 crore shares aggregating to ₹480.00 crores and offer for sale of 0.79 crore shares aggregating to ₹333.07 crores.
Seshaasai Technologies IPO opens for subscription on Sep 23, 2025 and closes on Sep 25, 2025.
The allotment for the Seshaasai Technologies IPO is expected to be finalized on Sep 26, 2025. Seshaasai Technologies IPO will list on BSE, NSE with a tentative listing date fixed as Sep 30, 2025.
Seshaasai Technologies IPO price band is set at ₹402.00 to ₹423.00 per share . The lot size for an application is 35. The minimum amount of investment required by an retail is ₹14,805 (35 shares) (based on upper price).
The lot size investment for sNII is 14 lots (490 shares), amounting to ₹2,07,270, and for bNII, it is 68 lots (2,380 shares), amounting to ₹10,06,740.
The company offers an integrated and customized portfolio of services through its pan-India physical network, which includes 24 manufacturing units across seven locations in India as of 31 March 2024.
IPO Dates
- Opening Date: September 23, 2025
- Closing Date: September 25, 2025
- Basis of Allotment Finalization: September 26, 2025
- Refunds Initiation: September 29, 2025
- Shares Transfer to Demat Accounts: September 29, 2025
- Listing Date (Tentative): September 30, 2025
- Listing Exchanges: BSE and NSE
IPO Details
- Face Value: ₹10 per share
- Price Band: ₹402 to ₹423 per equity share
- Lot Size: 35 shares
- Issue Size: Approximately ₹813.07 crore
- Fresh Issue: ₹480 crore
- Offer for Sale (OFS): 78,74,015 equity shares (~₹333 crore)
- Employee Discount: ₹40 per share
- Issue Type: Book Built Issue
- Listing At: BSE, NSE
- Share Holding Pre Issue: 15,04,53,300 shares
- Share Holding Post Issue: 16,18,00,888 shares
GMP of Seshaasai Technologies Limited IPO
As of September 19, 2025, the Grey Market Premium (GMP) for the Seshaasai Technologies Limited IPO is approximately ₹103 per share, indicating a potential listing gain of around 24.35% over the upper price band of ₹423.
Promoters of Seshaasai Technologies Limited
The promoters of Seshaasai Technologies Limited are:
- Pragnyat Pravin Lalwani – Chairman and Managing Director
- Gautam Sampatraj Jain – Whole-Time Director
Both have been associated with the company since its inception in September 1993 and play pivotal roles in its strategic and operational leadership.
Their leadership has been instrumental in positioning Seshaasai Technologies as a leading provider of technology-driven solutions for payments, communication, and fulfillment services.
Additionally, other individuals associated with the company include:
- Gautam Jain HUF – Hindu Undivided Family associated with the company
- Sunita Gautam Jain – Family member associated with the company
- Pranati Ratnadeep Patil – Individual associated with the company
These individuals are listed in the company’s filings and may have roles or holdings related to the company.
Pragnyat Pravin Lalwani
- Position: Managing Director of Seshaasai Technologies Limited
- Experience: Over 31 years in corporate governance and business operations
- Director Identification Number (DIN): 01870792
- Other Roles: Director at multiple companies, including Prayaas Automation Private Limited
- LinkedIn Profile: Pragnyat Pravin Lalwani
Gautam Sampatraj Jain
- Position: Whole-Time Director of Seshaasai Technologies Limited
- Experience: Over 31 years in corporate governance and business operations
- Director Identification Number (DIN): 02060629
- Other Roles: Director at various companies, including Pentax Pharma Pvt Ltd, Srichakra Infratech Pvt Ltd, and Prayaas Automation Pvt Ltd
- LinkedIn Profile: Gautam Sampatraj Jain
Both promoters have been instrumental in the growth and development of Seshaasai Technologies Limited, leading the company since its inception in 1993.
Their extensive experience in the industry has contributed to the company’s strong presence in the technology-driven solutions sector.
Seshaasai Technologies Limited IPO Lot Size
Certainly! Here are the details of the Seshaasai Technologies Limited IPO lot size:
| 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 Limited IPO Promoter Holding
As of the latest available information, the pre-issue promoter shareholding in Seshaasai Technologies Limited stands at 93.21%. The promoters of the company are:
| Promoter Holding Pre Issue | 93.21% |
| Promoter Holding Post Issue | – |
- Pragnyat Pravin Lalwani
- Gautam Sampatraj Jain
Both have been instrumental in the company’s growth and have a significant stake in its operations. The post-issue shareholding will be determined after the IPO allotment and is expected to be disclosed in the company’s final prospectus.
About Seshaasai Technologies Limited
Seshaasai Technologies Limited is a Mumbai-based technology solutions provider specializing in secure and innovative solutions for payments, communication, and fulfillment services.
Established in 1993 as Seshaasai Business Forms Private Limited, the company rebranded to its current name in 2024 to better reflect its diversified business model.
Company Overview
Seshaasai Technologies offers a comprehensive suite of services, including:
- Payment Solutions: Manufacturing of payment cards, metal cards, and wearable payment devices.
- Communication Services: Omni-channel messaging platforms and secure customer communication solutions.
- Fulfillment Services: Integrated logistics and supply chain solutions, including RFID-based tracking systems.
- Internet of Things (IoT) Solutions: Development of IoT platforms for various industries, enhancing automation and data analytics.
The company serves a diverse clientele across sectors such as banking, financial services, insurance, government, retail, and manufacturing.
Payment Solutions
- Smart Cards: Including banking cards, smart ID payment cards, contact & contactless cards, transit cards, prepaid cards, and NFT token cards.
- Metal Cards: Offering hybrid metal cards, heavy insert metal cards, metal edge cards, and biometric metal cards.
- High-Tech Payment Cards: Featuring biometric authentication, dynamic CVV, transparent cards, LED dynamic cards, and wooden cards.
- Payment Form Factors: Providing unique payment forms and secure banking instruments.
- Merchant QR Solutions: Facilitating secure and efficient payment processing for merchants.
Communication & Fulfilment Solutions
- Print Communications: Services include statements, policy documents, business communication documents, direct mail, utility bills, and loyalty campaigns.
- Smart Fulfilment: Solutions for digital communications, print communication, eTaTrak, Inventory Order Management System (IOMS), and integrated logistics management.
IoT Solutions
- RFID Solutions: Comprising a tag portfolio, RFID catalogue, Seshaasai ARC program, RFID components, RFID tunnels, RFID antennas, and RFID for BFSI.
- izeIoT: An IoT platform offering smart traceability solutions.
- eSIM & SIM: Providing connectivity solutions for IoT devices.
These offerings are designed to cater to various industries, including banking, financial services, insurance, retail, and logistics, ensuring secure, efficient, and innovative solutions.
Seshaasai Technologies Limited Financial Information
Certainly! Here is the detailed financial information for Seshaasai Technologies Limited for the fiscal years ending March 31, 2023, 2024, and 2025:
| Particulars | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | ₹1,160.39 Crore | ₹958.41 Crore | ₹782.54 Crore |
| Total Income | ₹1,473.62 Crore | ₹1,569.67 Crore | ₹1,153.84 Crore |
| Profit After Tax | ₹222.32 Crore | ₹169.28 Crore | ₹108.10 Crore |
| EBITDA | ₹370.37 Crore | ₹303.01 Crore | ₹207.43 Crore |
| Net Worth | ₹669.67 Crore | ₹465.58 Crore | ₹321.64 Crore |
| Reserves & Surplus | ₹490.52 Crore | ₹286.43 Crore | ₹201.29 Crore |
| Total Borrowing | ₹378.68 Crore | ₹350.24 Crore | ₹311.99 Crore |
Key Financial Highlights
- Revenue Growth: The company experienced a 6% decrease in total income from ₹1,569.67 crore in 2024 to ₹1,473.62 crore in 2025.
- Profit Increase: Profit After Tax (PAT) rose by 31% from ₹169.28 crore in 2024 to ₹222.32 crore in 2025.
- EBITDA Improvement: EBITDA increased by 22% from ₹303.01 crore in 2024 to ₹370.37 crore in 2025.
- Net Worth Enhancement: Net worth grew by 44% from ₹465.58 crore in 2024 to ₹669.67 crore in 2025.
Key Performance Indicator (KPI)
Certainly! Here are the Key Performance Indicators (KPIs) for Seshaasai Technologies Limited for the fiscal year ending March 31, 2025:
| KPI | Values |
|---|---|
| ROE | 34.84% |
| ROCE | 31.87% |
| Debt/Equity | 0.37 |
| RoNW | 33.20% |
| PAT Margin | 15.09% |
| EBITDA Margin | 25.13% |
| Price to Book Value | 13.41 |
Objects of the Issue (Seshaasai Technologies Limited IPO Objectives)
Here are the Objects of the Issue (objectives for which the net proceeds of the fresh issue portion of Seshaasai Technologies Limited IPO are intended), as per its DRHP / IPO filings:
Objects of the IPO (Fresh Issue Proceeds)
1) Capital Expenditure (CapEx) for Expansion of Manufacturing Units
- Approximately ₹195.33 crore is planned to be used to expand existing manufacturing facilities.
2) Repayment or Prepayment of Loans / Debt
- Around ₹300 crore is earmarked for repayment or prepayment of certain outstanding borrowings.
3) General Corporate Purposes
- The remaining portion of the fresh issue proceeds will be used for general corporate purposes.
Strengths of Seshaasai Technologies Limited IPO
1) Leadership Position in Payment Solutions
- Seshaasai is one of the top manufacturers of payment cards in India, commanding significant market share (~34.5% in fiscal 2024 for credit & debit card issuance).
2) Comprehensive Product / Solution Portfolio
- The company offers a full stack of services: payment instruments (PVC, metal, wearables etc.), communication & fulfilment, and IoT solutions (RFID, etc.). That gives it multiple revenue streams.
3) Strong Manufacturing Capabilities
- It has 24 manufacturing units spread across 7 locations in India, and has approvals/capabilities for plastic cards, metal cards, sustainable cards, biometric cards, wearables, etc.
4) Long-Standing Customer Relationships
- Most of revenue comes from repeat / long-term clients. For example, many customers have been with the company for several years. This gives revenue visibility and reduces the risk of sudden client loss.
5) Proprietary Technology Platforms
- Platforms such as RUBIC, eTaTrak, IOMS etc., help with order management, communication, inventory, tracking etc. This adds to competitive advantage.
Risks of Seshaasai Technologies Limited IPO
1) Customer Concentration Risk
- A large part of revenue is dependent on a few customers. E.g. top 10 customers contributing ~65.84% of revenue in a recent quarter. If any of them reduce orders or switch suppliers, it could heavily impact financials.
2) Dependence on Government / Public Sector Business
- A substantial portion of business comes from government or PSU clients (public sector), which brings risks related to policy change, delays in payments, and dependence on government budgets.
3) Regulatory & Compliance Risks
- The contracts require compliance with various security, manufacturing, regulatory standards. Any failure in compliance or loss of required certifications could disrupt business.
4) Operational / Manufacturing Risks
- There are risks related to manufacturing units: possible disruptions due to equipment failure, supply chain issues (raw materials, inputs), labor issues, or other operational challenges.
5) Information Technology / Data Security Risks
- Given the nature of business (handling payments, personal data, secure communications), risk of IT system breaches, data leaks or disruptions could harm reputation, contracts, regulatory exposure.
Seshaasai Technologies Limited Contact Details
Seshaasai Technologies Limited Contact Details
Here are the contact details for Seshaasai Technologies Limited (including corporate office and IPO registrar):
Corporate Office
- Name: Seshaasai Technologies Limited (formerly Seshaasai Business Forms Limited)
- Address: 9, Lalwani Industrial Estate, 14, Katrak Road, Wadala (West), Mumbai, Maharashtra, 400031
- Phone / WhatsApp: +91 8976 777 299
- Alternate Phone: +91-22-6627-0927
- Email: marketing@seshaasai.com
- Company Secretary Email: companysecretary@seshaasai.com
IPO Registrar
- Name: MUFG Intime India Pvt. Ltd.
- Phone: +91-22-4918-6270
- Alternate Registrar Contact: +91-81081-14949
- Email: seshaasaitechnologies.ipo@in.mpms.mufg.com
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