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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Capital expenditure for manufacturing expansion
Funding procurement and installation of equipment at existing manufacturing units in Navi Mumbai, Okhla, Nagpur, Kundli, and Bengaluru to enhance payment solutions and scale IoT capabilities.
Repayment of borrowings
Prepayment or repayment of certain outstanding borrowings of the company from IPO proceeds.
General corporate purposes
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(₹ in Crore)
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Seshaasai Technologies Limited is a technology-oriented solutions provider that delivers payment, communication, and fulfillment services primarily to clients in the banking, financial services, and insurance sector. The company develops and deploys customizable, scalable solutions built on its proprietary platforms, with data security and regulatory compliance forming the foundation of its service offerings. Its product portfolio spans physical and digital payment instruments, secure document processing, multi-channel communications, and emerging Internet of Things applications. Originally incorporated in 1993 as Seshasai Business Forms Private Limited, the company underwent a transformation from a business forms manufacturer into a technology solutions provider, adopting its current name in 2024. As of June 2025, Seshaasai operates 24 manufacturing facilities spread across seven locations in India, including Mumbai, Bengaluru, Kolkata, Ahmedabad, Pune, Hyderabad, and Nagpur, and employs approximately 862 permanent staff. The company serves major financial institutions and insurance companies on a recurring, volume-driven basis. Seshaasai occupies a niche in the regulated payment and communication solutions space, catering to an industry segment that requires high compliance standards and secure handling of sensitive documents. Its vertically integrated operations, combining in-house manufacturing with proprietary technology platforms, position it to offer end-to-end solutions at scale. The company has demonstrated significant revenue growth, expanding from Rs 676 crore in FY22 to Rs 1,474 crore in FY25, supported by increased adoption of its payment solutions and expansion into IoT-enabled services.
Seshaasai Technologies raised Rs 243.32 crore from 17 anchor investors at Rs 423 per share on September 22, 2025. Key participants included Nippon India Mutual Fund, ICICI Prudential Mutual Fund, UTI Mutual Fund, Motilal Oswal AMC, Sundaram Mutual Fund, Tata AIA General Insurance, Valuequest India, HSBC Mutual Fund, DSP Mutual Fund, Franklin India, and Axis Max Life Insurance.
Source: RHP • Analysis provided for informational purposes
Last Updated: 13 July 2026, 1:02 PM
Market leadership in regulated solutions
The company has established a leading position in the regulated payment and communication solutions segment, serving major BFSI clients on a recurring basis.
Scalable and configurable service portfolio
Its solutions are designed to be modular and scalable, allowing clients to customize deployments based on their specific volume and compliance requirements.
Proprietary technology platforms
The company develops its own technology stack for delivering solutions, reducing dependence on third-party software and enabling faster product development cycles.
Multi-location manufacturing network
With 24 facilities across seven Indian cities, the company can serve clients locally with reduced turnaround times and redundancy across locations.
Consistent financial growth
Revenue has grown substantially over recent fiscal years, supported by improving profit margins and an experienced leadership team.
Concentration in BFSI sector
The company derives the majority of its revenue from banking and insurance clients, making it vulnerable to sector-specific downturns or shifts in outsourcing patterns.
Raw material supply dependency
Manufacturing operations rely on timely availability of specific raw materials, and disruptions in supply chains could affect production schedules and costs.
Dividend sustainability uncertainty
Future dividend payments are subject to the company's earnings trajectory, capital expenditure needs, and broader macroeconomic conditions.
Seshaasai Technologies Limited
9, Lalwani Industrial Estate, 14, Katrak Road, Wadala, Mumbai, Maharashtra 400031
View on Maps →MUFG Intime India Private Limited
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