Seshaasai Technologies Ltd IPO

About Seshaasai Technologies Ltd

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, valued at Rs. 9,071 million in 2020, expanded to Rs. 30,804 million in 2024. The total number of payment cards in circulation in India, encompassing credit cards, debit cards, and PPIs, stood at 1,083 million units in 2020. By 2024, this figure had increased to 1,403 million units and is anticipated to grow to 2,225 million units by 2030, with an expected CAGR of 8.0% from 2024 to 2030. 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 Rs. 1,338.5 billion in 2024, is projected to grow at a 11.9% CAGR and reach Rs. 2,631.1 billion by 2030.

We are a technology driven multi-location solutions provider offering payments solutions, communications and fulfilment solutions and IoT solutions. Under payment solutions, we offer a range of payment enabling instruments such as, debit cards, credit cards, pre-paid cards, mass transit cards and cheques. Under communications and fulfilment solutions, we offer secured omni-channel communication solutions such as print, interactive portable document format sent via email and text messages. Our IoT Solutions encompass a comprehensive range of radio frequency identificationenabled offerings and IoT ecosystem services.

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