Seshaasai Technologies has received markets regulator Securities and Exchange Board of India’s (SEBI's) clearance to raise funds through initial public offering (IPO).
The company’s issue is proposed to be a mix of fresh issue of equity shares of worth Rs 600 crore and an OFS of up to 78.7 lakh equity shares. Proceeds from the fresh issue will be allocated for the expansion of existing manufacturing units, payment of debt and for general corporate purposes. ICICI Securities, BNP Paribas, IIFL Capital Services, SBI Capital Markets are the lead managers to the issue.
The company is a technology-driven multi-location solutions provider offering payments solutions and communications and fulfilment solutions. It designs and develops instruments such as debit cards, credit cards, pre-paid cards, mass transit cards and cheques and securely embed customer data onto them and sends them to end customers.
