Mumbai, September 17, 2025: Seshasai Technologies Limited (formerly known as Seshasai Business Forms Limited) has announced the launch of its Initial Public Offering (IPO), which will open for subscription on Tuesday, September 23, 2025, and close on Thursday, September 25, 2025. The company has fixed a price band of ₹402–₹423 per equity share with a face value of ₹10 each. Investors can bid for a minimum of 35 equity shares and in multiples thereof. The IPO comprises a fresh issue aggregating up to ₹4,800.03 million and an offer for sale of 7,874,015 equity shares.
The proceeds from the fresh issue, amounting to ₹1,979.13 million, will be utilized towards funding capital expenditure for expanding existing manufacturing units, while ₹3,000 million will be earmarked for prepayment or repayment of borrowings. As of date, the company has 147.61 million equity shares outstanding. The book-running lead managers for the issue are ICICI Securities Limited, SBI Capital Markets Limited, and IIFL Capital Services Limited, while MUFG Intime India Private Limited is acting as registrar.
Seshasai Technologies is a technology-driven, multi-location solutions provider catering to the banking, financial services, and insurance (BFSI) sector with strong capabilities in payment solutions, communication and fulfilment services, IoT solutions, and data security. The company operates 24 self-sustaining manufacturing units across seven Indian locations, with facilities for producing plastic cards, metal cards, biometric cards, RFID tags, and wearables. Its units have an installed capacity of manufacturing 0.47 million cards and 1.67 million RFID tags per day as of March 31, 2025. The company also operates R&D labs in Bengaluru and Faridabad to develop customized solutions.
Financially, Seshasai Technologies reported revenue from operations of ₹14,631.51 million in Fiscal 2025, up from ₹11,462.99 million in Fiscal 2023. Its profit after tax also rose sharply to ₹2,223.20 million in Fiscal 2025, compared with ₹1,080.98 million in Fiscal 2023. The company’s clientele includes leading public and private sector banks, insurance companies, depositories, and fintech firms, serving 10 of the 12 public sector banks and 15 of the 21 private banks in India. With a strong track record, expanding capacities, and growing presence in BFSI technology solutions, Seshasai Technologies aims to strengthen its market leadership through this IPO.
