More

    Upcoming IPO: Funds resolution supplier Seshaasai Applied sciences recordsdata DRHP with SEBI to lift funds through public challenge

    Seshaasai Applied sciences Restricted, a Mumbai-based funds options supplier, filed its draft crimson herring prospectus (DRHP) with the markets regulator, the Securities and Alternate Board of India (SEBI), on Friday, December 27.

    The corporate is a funds resolution supplier that develops know-how for contactless funds, buyer communication and good traceability. The agency additionally caters to training, wellness, retail and transport sectors, in response to knowledge collected from analysis company Tracnx. 

    Seshaasai Applied sciences IPO particulars

    The corporate, by a book-built challenge, goals to lift 600 crore from a contemporary issuance of fairness shares with a face worth of 10 per share. The general public provide may also embrace an offer-for-sale (OFS) part with 78,74,015 or 78.74 lakh fairness shares. The whole quantity of the problem is undisclosed within the regulatory submitting.

    Pragnyat Pravin Lalwani and Gautam Sampatraj Jain are every promoting off practically 39.37 lakh fairness shares through the general public challenge’s OFS part. 

    The corporate goals to make use of 195.328 crore to fund its capital expenditure wants for the growth of current manufacturing items. Seshaasai Applied sciences additionally plans to make use of 300 crore of the web proceeds to repay or prepay, in components or in full, sure excellent borrowings. The remaining funds are anticipated for use for normal company functions.

    IIFL Capital Companies Restricted, ICICI Securities Restricted and SBI Capital Markets Restricted are the book-running lead managers for the general public challenge, whereas Hyperlink Intime India is the registrar. 

    Concerning the firm

    Seshaasai Applied sciences made a web revenue of 40.48 crore as of the quarter ended June 30 within the monetary 12 months 2024-25, in response to the draft papers. The corporate’s income from operations was 360.50 crore for a similar interval.

    For the monetary 12 months ended March 2024, the corporate’s earnings have been at 169.27 crore, in comparison with 108.09 crore in 2023 and 37.35 crore in 2022. As of June 2024, the corporate’s web price stood at 506.34 crore.

    The corporate caters to banking, monetary providers and insurance coverage (BFSI) and different sectors. Lack of any of the important thing prospects, or discount in income earned from these key prospects could have an hostile impact on the corporate’s enterprise, the funds resolution supplier disclosed.

    Disclaimer: The views and suggestions above are these of particular person analysts or broking corporations, not Mint. We advise traders to verify with licensed specialists earlier than making any funding selections.

    Stay in the Loop

    Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

    Latest stories

    You might also like...