Seshaasai Technologies IPO allotment likely to be finalised today: Check step-by-step guide to track status, latest GMP

Seshaasai Technologies IPO allotment: Following a stellar demand for the Seshaasai Technologies' initial public offering (IPO), investor focus has now shifted to its allotment. Seshaasai Technologies IPO allotment date is set for today, September 26.

The allotment for an IPO is generally fixed after the subscription period ends. Since Seshaasai Technologies IPO closed for bidding yesterday, September 25, the allotment status is expected to be out today.

Seshaasai Technologies IPO allotment status

Once the basis of share allotment is fixed, the company will credit the equity shares into the demat accounts of the eligible allotment holders and issue refunds to unsuccessful applicants on September 29.

In order to check the Seshaasai Technologies IPO allotment status online, investors can head to the exchanges or the website of the registrar of the offer — MUFG Intime India.

To check Atlanta Seshaasai Technologies IPO allotment status online, investors need to follow a few simple steps mentioned below.

Steps to check Seshaasai Technologies IPO allotment status on BSE

1. Go to the BSE website using this link: https://www.bseindia.com/investors/appli_check.aspx

2. Select ‘Equity’ as the Issue Type.

3. From the Issue Name dropdown, choose ‘Seshaasai Technologies’.

4. Enter your Application Number or PAN.

5. Complete the process by ticking ‘I am not a robot’ and then click ‘Search’ to proceed.

Steps to check Seshaasai Technologies IPO allotment status on NSE

1. Visit NSE allotment status page on its website here - https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

2. Select ‘Equity and SME IPO bids’

3. Choose ‘Seshaasai Technologies’ from the Issue Name dropdown menu

4. Enter your PAN and Application Number

5. Click on Submit

Steps to check Seshaasai Technologies IPO on MUFG Intime

1. Visit the MUG Intime website using this link: https://in.mpms.mufg.com/Initial_Offer/public-issues.html

2. From the dropdown select company name as 'Seshaasai Technologies'

3. Select either PAN, Application. No., DP ID or Account No.

4. Enter details regarding the option selected

5. Click on Search

Seshaasai Technologies IPO GMP

According to market sources, Seshaasai Technologies is enjoying a decent grey market premium (GMP). As of today, Seshaasai Technologies IPO GMP is ₹56. This means shares of Seshaasai Technologies are trading ₹56 above the upper end of the IPO price.

At the prevailing GMP, Seshaasai Technologies IPO listing price could be ₹479, a premium of 13% over the upper end of the price band of ₹423.

Seshaasai Technologies IPO Details

The ₹813-crore IPO was subscribed 68.13 times at the end of the three-day bidding period, which started on September 23.

The quota for qualified institutional buyers (QIBs) received 68.13 times subscription, while the category for non-institutional investors (NIIs) attracted 49.89 times subscription. Lastly, the retail portion and the employee quota were booked 9.17 times and 9 times, respectively.

The IPO was a combination of a fresh issue of shares worth ₹480 crore and an offer for sale of ₹333 crore at the upper end. The issue price band was set at ₹402-423 per share.

In the IPO, ₹198 crore from the fresh issue will be allocated for the expansion of existing manufacturing units, ₹300 crore for payment of debt and the rest for general corporate purposes.

Seshaasai Technologies is a technology-driven multi-location solutions provider offering payment solutions and communications, and fulfilment solutions. It designs and develops instruments such as debit cards, credit cards, prepaid cards, mass transit cards, and cheques, and securely embeds customer data onto them, sending them to end customers.