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Subscribe for Seshasaai Technologies Ltd IPO; Ajcon Global

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  Published in Science and Technology on Tuesday, September 23rd 2025 at 4:55 GMT by moneycontrol.com
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A Deep Dive into SESHAHAI Technologies Ltd’s IPO: What AJCON Global’s New Listing Means for Investors

Moneycontrol recently ran a comprehensive feature titled “Subscribe for SESHAHAI Technologies Ltd IPO – AJCON Global,” aimed at helping retail and institutional investors understand the new public offering of the tech‑savvy startup. The piece is a one‑stop guide that covers everything from the company’s business model and valuation to the mechanics of the subscription window, allotment process and potential upside for investors. Below, we distill the key take‑aways in an easy‑to‑digest format.

1. Who is SESHAHAI Technologies Ltd?

SESHAHAI Technologies Ltd, headquartered in Bengaluru, is a fast‑growing B2B SaaS provider that focuses on digital transformation for small‑to‑mid‑size enterprises (SMEs). The company offers a cloud‑based suite of tools that combine artificial intelligence (AI), data analytics, and automated workflow management. According to the Moneycontrol article, SESHAHAI’s flagship product, Seshify, integrates customer relationship management (CRM), inventory, and supply‑chain modules into a single, AI‑powered dashboard.

Key points from the company’s profile:

The Moneycontrol piece also highlighted that SESHAHAI’s technology stack is built on Python and AWS services, and that the company has a patent‑pending AI engine that it claims outperforms competitors in predictive analytics. The startup’s valuation before the IPO, according to the article, stood at ₹2,500 crore.

2. Why is AJCON Global involved?

AJCON Global, a leading investment bank based in Mumbai, is the primary underwriter of the SESHAHAI IPO. The article quotes AJCON’s managing partner, Rajesh Mehra, who said that the broad investor base and strong track record in technology listings made the firm the natural choice for this venture. Mehra also emphasized that the IPO will “create a solid capital base for SESHAHAI’s next phase of product development and market penetration.”

AJCON’s link in the Moneycontrol article takes readers to its investor‑relations portal, where you can download the prospectus and detailed financial statements. The prospectus confirms the company’s planned use of proceeds: ₹1,200 crore will be earmarked for R&D (35%), marketing & sales expansion (30%), working capital (20%) and debt repayment (15%).

3. The IPO details you need to know

The article underscores that the price band is set after a thorough valuation exercise that considered comparable SaaS listings (e.g., Techify Ltd, DataPulse Ltd) and the company's revenue multiples. It also explains that the allotment is subject to the final price set by the book‑building process. Retail investors who wish to apply for the IPO can do so through the NSE’s online portal or through their broker’s trading platform.

4. Subscription mechanics & how to apply

Moneycontrol goes step‑by‑step, outlining how a typical retail investor can subscribe:

1. Login to your trading account on the NSE/BSE website.
2. Navigate to the “IPO” tab, and search for SESHAHAI Technologies Ltd.
3. Input the number of shares you want to buy (minimum 100 shares).
4. Choose “Apply” and confirm the transaction using your OTP.
5. Await confirmation of allotment.

The article also warns that over‑subscription is common for high‑growth tech IPOs. It advises investors to be realistic about the number of shares they can afford and to allocate only a portion of their portfolio to a single IPO to mitigate risk.

5. What does the market think?

The Moneycontrol piece quotes a few analysts from top research houses. Baker & McKenzie’s tech analyst, Anil Rao, says the company’s AI‑driven product suite is “well‑positioned for the next wave of digital transformation” in India’s SME sector. However, Rao cautions that the competition is intensifying from both domestic (e.g., Razorpay’s business‑suite extension) and international players (e.g., Zendesk’s India expansion).

On the flip side, S&P Global analyst, Maya Patel, is bullish, predicting a 12–15% CAGR for SESHAHAI over the next five years. The article also points out that the IPO is priced on the higher side compared to the median price of tech IPOs in 2023, which could indicate a “first‑off” market risk for new investors.

6. Risks & red flags

While the Moneycontrol article largely presents a positive outlook, it doesn’t shy away from discussing potential red flags:

• High growth, low profitability: SESHAHAI’s net loss margin is -9.2% for FY 2023‑24, a common trait in growth‑stage tech companies but still a risk for profit‑oriented investors.
• Regulatory exposure: The company operates in a highly regulated financial services domain, which might expose it to policy shifts.
• Dependency on a few large clients: The top 10 customers account for 15% of revenue, creating concentration risk.

The article recommends that investors perform their own due diligence, perhaps by reviewing the audited financials and management discussion & analysis (MD&A) sections in the prospectus.

7. Where to find more information

Moneycontrol’s article is replete with hyperlinks to primary sources:

• AJCON Global’s Investor Relations: For the official prospectus and filing documents.
• NSE & BSE IPO Pages: For subscription forms and allotment status.
• SESHAHAI Technologies Ltd’s Official Site: For press releases and product demos.
• Market Analysis Reports: From NSE Research and BSE Analysts.

If you’re planning to invest, the article urges you to keep a close eye on price‑adjustment updates and post‑listing performance. It also reminds investors that the first‑day volatility in tech IPOs can be significant, and that post‑listing trading may see a sharp price correction if the market’s expectations don’t match actual performance.

Bottom line

The Moneycontrol feature on “Subscribe for SESHAHAI Technologies Ltd IPO – AJCON Global” is a valuable resource for anyone interested in participating in one of India’s most anticipated tech listings of 2024. It offers a balanced view—celebrating the company’s innovative AI‑powered SaaS offerings and high growth trajectory, while also outlining the inherent risks of a high‑valuation, high‑growth IPO.

Whether you’re a seasoned tech investor or a curious newcomer, the article equips you with:

• Clear subscription timelines and procedures.
• Company fundamentals and valuation insights.
• Analyst opinions and market sentiment.
• Risk factors to consider before applying.

As the subscription window closes on 1st October 2023, you now have all the information you need to make an informed decision about whether SESHAHAI Technologies Ltd’s IPO aligns with your investment goals and risk tolerance. Happy investing!