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  5. Seshaasai Technologies IPO Day 3: Issue subscribed over 37x; here's how to check allotment

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Seshaasai Technologies IPO Day 3: Issue subscribed over 37x; here's how to check allotment

Ahana Chatterjee - image.jpg
By Ahana Chatterjee

3 min read | Updated on September 25, 2025, 17:31 IST

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SUMMARY

Until 5 PM, the initial share sale received bids for 93,799,0410 shares as compared to 13,767,095 shares on offer, garnering a total subscription of 37.58 times. Seshaasai Technologies' IPO allotment is expected to be finalised on Friday, September 26.

Seshaasai Technologies is a technology-driven solutions provider engaged in offering payment solutions, communications and fulfilment solutions for the BFSI industry. | Image: LinkedIn/Seshaasai

Seshaasai Technologies is a technology-driven solutions provider engaged in offering payment solutions, communications and fulfilment solutions for the BFSI industry. | Image: LinkedIn/Seshaasai

Payment solutions provider Seshaasai Technologies' ₹813.07 crore initial public offering witnessed a good demand on its last day of bidding on Thursday, September 25. The issue has set a price band of ₹402 to ₹423 per share.

Until 5 PM, the initial share sale received bids for 93,799,0410 shares as compared to 13,767,095 shares on offer, garnering a total subscription of 37.58 times, exchange data showed.

• Qualified Institutional Buyers (QIBs): 189.63x

• Non-institutional Investors: 49.89x

• Retail Individual Investors (RIIs): 9.17x

The initial share sale is a combination of a fresh issuance of shares valued at ₹480 crore and an offer for sale (OFS) totalling ₹333.07 crore by promoters Gautam Sampatraj Jain and Pragnyat Pravin Lalwani.

Also read: Anand Rathi IPO Day 3: Issue subscribed nearly 2x so far; here's how to check allotment

Of the fresh issue proceeds, funds worth ₹198 crore will be allocated to expand existing manufacturing facilities, ₹300 crore for clearing certain debt and the remainder for general corporate purposes.

Before the IPO, the company raised ₹243.3 crore from anchor investors, including Nippon India Mutual Fund (MF), UTI MF, Motilal Oswal MF, Sundaram MF, ICICI Prudential MF, and Tata AIG General Insurance Company, among others.

In terms of issue allocation, 50% of the net offer is reserved for QIBs, 35% for retail investors, and 15% for NIIs.

Seshaasai Technologies' IPO allotment is expected to be finalised on Friday, September 26. The listing on the stock exchanges will occur on Tuesday, September 30.

Seshaasai Technologies is a technology-driven solutions provider engaged in offering payment solutions, communications and fulfilment solutions for the banking, financial services and insurance industry.

ICICI Securities, IIFL Capital Services and SBI Capital Markets are the IPO's book-running lead managers, while MUFG Intime India serves as the registrar.

Steps to check Seshaasai Technologies IPO allotment status on NSE
• Visit the NSE IPO allotment status page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

• Chose ‘Equity & SME IPO bid details’

• Select ‘Seshaasai Technologies’ from the list of IPO names.

• Enter your application number and PAN details.

• Click ‘Submit’ to view the status of your IPO allotment.

Also read: Jaro Education IPO subscribed nearly 10 times so far on day 3; check allotment date and steps
Steps to check Seshaasai Technologies IPO allotment status BSE
• Visit the BSE IPO allotment status page: https://www.bseindia.com/investors/appli_check.aspx

• Select ‘Seshaasai Technologies’ as the issue type.

• From the dropdown menu, select ‘Seshaasai Technologies’. Identify yourself using either PAN details or the IPO application number.

• Click on the ‘I’m not a robot’ tab and press the ‘Search’ button to see the allotment details.

Seshaasai Technologies IPO latest GMP
According to investorgain.com and media reports, unlisted shares of the Seshaasai Technologies IPO are trading at ₹468 per share, reflecting a grey market premium (GMP) of 10.64% over the upper price band of ₹423.
Disclaimer: Grey Market Premium, or GMP, is an unofficial indicator of market sentiment toward an IPO. It is not regulated by the stock exchanges or SEBI. Upstox neither supports nor encourages grey market trading. Investors are advised to conduct their own research or consult an expert before making any investment decisions.
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About The Author

Ahana Chatterjee - image.jpg
Ahana Chatterjee is a business journalist with 7 years of experience across several leading news platforms. At Upstox, she covers stock markets and corporate news.

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