Seshaasai Applied sciences Restricted is hitting the first market with its Preliminary Public Providing (IPO). Traders are eager to guage whether or not this IPO is value subscribing to. On this detailed IPO Evaluation, we are going to cowl Seshaasai Applied sciences IPO Date, IPO Value, IPO Measurement, monetary efficiency, valuation evaluation, Gray Market Premium (GMP), causes to speculate, key danger components, and eventually conclude whether or not it is best to make investments or keep away from.
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In regards to the Firm
Integrated in 1993, Seshaasai Applied sciences Restricted is a technology-driven options supplier specializing in fee options, communication & fulfilment companies, and IoT choices. The corporate primarily serves the banking, monetary companies, and insurance coverage (BFSI) sector but in addition caters to manufacturing, logistics, and retail via its IoT platforms.
The corporate operates 24 self-sustaining manufacturing models throughout seven areas in India, licensed by world fee schemes, NPCI, PCI, and IBA. Its proprietary platforms reminiscent of RUBIC, eTaTrak, and IOMS allow safe communication, logistics monitoring, and stock administration.
As of June 2025, the corporate employed 862 everlasting workers.

Aggressive Strengths
- Management in BFSI Cost Options with robust obstacles to entry.
- Lengthy-standing consumer relationships with banks, insurers, fintechs, and AMCs.
- Complete and scalable options throughout funds, communications, and IoT.
- Proprietary know-how stack driving effectivity and personalization.
- Pan-India superior manufacturing amenities guaranteeing compliance and scalability.
- Sturdy monetary efficiency with constant profitability development.
- Skilled promoters and administration workforce.
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Seshaasai Applied sciences IPO Challenge Particulars
- IPO Date: September 23, 2025 to September 25, 2025
- Itemizing Date (Tentative): September 30, 2025
- Face Worth: ₹10 per share
- IPO Value Band: ₹402 to ₹423 per share
- Lot Measurement: 35 shares
- Minimal Funding (Retail): ₹14,805 (1 lot)
- Whole Challenge Measurement: 1.92 crore shares (₹813.07 Cr)
- Contemporary Challenge: 1.13 crore shares (₹480 Cr)
- Supply for Sale (OFS): 0.79 crore shares (₹333.07 Cr)
- Worker Low cost: ₹40 per share
- Challenge Kind: Guide Constructing IPO
- Itemizing At: BSE, NSE
- Guide Operating Lead Managers: IIFL Capital, ICICI Securities, SBI Capital Markets
- Registrar: MUFG Intime India Pvt. Ltd.
Financials of the Firm
| Interval Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Belongings | ₹1,160.39 Cr | ₹958.41 Cr | ₹782.54 Cr |
| Income | ₹1,473.62 Cr | ₹1,569.67 Cr | ₹1,153.84 Cr |
| PAT | ₹222.32 Cr | ₹169.28 Cr | ₹108.10 Cr |
| EBITDA | ₹370.37 Cr | ₹303.01 Cr | ₹207.43 Cr |
| Web Price | ₹669.67 Cr | ₹465.58 Cr | ₹321.64 Cr |
| Borrowings | ₹378.68 Cr | ₹350.24 Cr | ₹311.99 Cr |
Key Ratios (FY25):
- ROE: 34.84%
- ROCE: 31.87%
- Debt/Fairness: 0.37
- PAT Margin: 15.09%
- EBITDA Margin: 25.13%
Objects of the IPO
The corporate intends to make the most of the web proceeds in direction of:
- Growth of producing models: ₹197.91 Cr
- Reimbursement of borrowings: ₹300 Cr
- Basic company functions
Valuation and P/E Ratio Comparability
- EPS (Pre-issue): ₹14.78
- EPS (Submit-issue): ₹13.74
- P/E (Pre-issue): 28.63x
- P/E (Submit-issue): 30.79x
Peer Comparability:
- Highest P/E amongst friends: 42x
- Lowest P/E amongst friends: 22x
- Trade Common P/E: ~32x
At a post-issue P/E of 30.79x, Seshaasai Applied sciences is pretty valued, barely under business common.
Causes to Spend money on Seshaasai Applied sciences IPO
- Sturdy place in BFSI-driven fee options with excessive entry obstacles.
- Scalable enterprise mannequin with diversified income streams.
- Sturdy profitability with excessive ROE (34.84%) and wholesome margins.
- Confirmed know-how platforms (RUBIC, eTaTrak, IOMS) with long-term potential.
- Use of proceeds in direction of growth and debt discount will strengthen steadiness sheet.
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Danger Elements within the IPO
- Dependency on BFSI purchasers exposes the enterprise to cyclical and regulatory dangers.
- Income dipped in FY25 in comparison with FY24, displaying volatility.
- Extremely aggressive business with presence of worldwide know-how gamers.
- Vital borrowings (₹378 Cr) nonetheless stay post-IPO.
- Any disruption in compliance (PCI, NPCI, IBA certifications) may affect operations.
- Traders ought to refer Seshaasai Tech IPO RHP / DHRP for full danger components earlier than investing in such IPOs.
Gray Market Premium (GMP)
As per market observers, Seshaasai Applied sciences IPO GMP is round ₹80-100 per share. This means a itemizing achieve potential of 18-22% over the higher value band.
Methods to Apply for Seshaasai Applied sciences IPO
- Traders can apply through ASBA (Utility Supported by Blocked Quantity) via their financial institution’s web banking platform.
- Alternatively, they’ll use UPI-based IPO functions through inventory dealer apps like Zerodha, Upstox, Angel One, and so forth.
Conclusion – Make investments or Keep away from?
Seshaasai Applied sciences IPO comes from a robust BFSI-focused enterprise with scalable platforms, recurring income, and wholesome profitability. Whereas the corporate has proven a small income decline in FY25, profitability and return ratios stay robust. Valuations seem cheap in comparison with friends, and GMP suggests wholesome itemizing positive factors.
Conclusion: Traders with medium to long-term outlook can take into account subscribing to this IPO.
FAQs on Seshaasai Applied sciences IPO
1. What are the Seshaasai Applied sciences IPO dates?
The IPO opens on September 23, 2025, and closes on September 25, 2025.
2. What’s the Seshaasai Applied sciences IPO value band?
The worth band is fastened at ₹402 – ₹423 per share.
3. What’s the Seshaasai Applied sciences IPO lot dimension?
The lot dimension is 35 shares, requiring a minimal funding of ₹14,805.
4. How a lot is reserved for retail traders on this IPO?
Not less than 35% of the web supply is reserved for retail traders.
5. What’s the Gray Market Premium (GMP) for Seshaasai Applied sciences IPO?
GMP is at present within the vary of ₹80–₹100 per share.
6. Who’re the promoters of Seshaasai Applied sciences?
The promoters are Pragnyat Pravin Lalwani and Gautam Sampatraj Jain.
7. Ought to I spend money on Seshaasai Applied sciences IPO for itemizing positive factors?
Sure, GMP signifies itemizing positive factors, however traders must also consider fundamentals for long-term funding.
Disclaimer: This IPO evaluation is for informational functions solely. It shouldn’t be thought of as funding recommendation or a suggestion. Traders ought to learn the Crimson Herring Prospectus (RHP), seek the advice of their monetary advisor, and assess their danger urge for food earlier than investing.
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