Seshaasai Technologies Ltd IPO

Our Company was originally incorporated as Seshasai Business Forms Private Limited at Mumbai as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated September 17, 1993 by the Registrar of Companies, Maharashtra at Mumbai (RoC). Pursuant to the approval accorded by our Shareholders at their extra-ordinary general meeting held on January 16, 2006, the name of our Company was changed to Seshaasai Business Forms Private Limited and a fresh certificate of incorporation consequent to change of name was issued by the RoC on February 14, 2006. Pursuant to the Scheme of Arrangement approved by the National Company Law Tribunal vide order dated February 8, 2024 (Scheme of Arrangement), our Company was converted from a private limited company to a public limited company and consequent upon conversion, the name of our Company was changed to Seshaasai Business Forms Limited and a certificate of change of name dated October 14, 2024 was issued by the RoC. The name of our Company was further changed to Seshaasai Technologies Limited as part of the corporate rebranding of our Company to reflect the principal business being undertaken by our Company in terms of the Scheme of Arrangement, and a fresh certificate of incorporation consequent upon change of name was issued to our Company by the RoC on November 25, 2024.

The Payments cards market in India expected to grow at 8.4% CAGR to reach 2,100 million units by 2029. Valued at Rs. 8.8 billion in 2019, it expanded to Rs. 24.2 billion in 2023, and is projected to reach Rs. 61.9 billion by 2029, growing at a CAGR of 15 %. The payments card manufacturing industry has high entry barriers due to significant capital requirements, stringent regulatory standards, technological expertise, and the dominance of established players. The global RFID market, valued at approximately INR 1,196.2 billion in 2023, is projected to grow at a 11.9 % CAGR and reach INR 2,631.1 billion by 2030.

We are a technology driven multi-location solutions provider offering payments solutions and communications and fulfilment solutions. We design and develop instruments such as, debit cards, credit cards, pre-paid cards, mass transit cards and cheques and securely embed customer data onto them and send to end customers. Our omni-channel communication solutions include print, interactive portable document format (PDF) sent via email, text messages or instant messaging platforms. We also offer Internet of Things (IoT) solutions which encompass a comprehensive range of radio frequency identification (RFID) enabled offerings and IoT ecosystem services tailored to meet diverse industry needs.