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 schooling, wellness, retail and transport sectors, in line with information collected from analysis company Tracnx.
Seshaasai Applied sciences IPO particulars
The corporate, by means of a book-built challenge, goals to boost ₹600 crore from a recent issuance of fairness shares with a face worth of ₹10 per share. The general public supply can even embrace an offer-for-sale (OFS) element with 78,74,015 or 78.74 lakh fairness shares. The entire quantity of the difficulty is undisclosed within the regulatory submitting.
Pragnyat Pravin Lalwani and Gautam Sampatraj Jain are every promoting off almost 39.37 lakh fairness shares through the general public challenge’s OFS element.
The corporate goals to make use of ₹195.328 crore to fund its capital expenditure wants for the growth of present manufacturing models. 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 basic company functions.
IIFL Capital Providers 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.
In regards to the firm
Seshaasai Applied sciences made a internet revenue of ₹40.48 crore as of the quarter ended June 30 within the monetary 12 months 2024-25, in line with 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 income 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 internet 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 clients, or discount in income earned from these key clients could have an antagonistic impact on the corporate’s enterprise, the funds resolution supplier disclosed.
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