• Florintree Capital Partners invested in Seshaasai Technologies Ltd in December 2024 at a valuation of approximately Rs 5,000 crore and is not selling shares in the upcoming IPO. Seshaasai is now launching its IPO, aiming for a post-issue valuation of Rs 6,844 crore.
• Seshaasai's IPO, opening September 23, includes a fresh issue of shares worth Rs 480 crore and an offer for sale of 7.9 million shares by promoters. The promoters aim to raise Rs 333 crore at the upper end of the price band of Rs 402-Rs 423 apiece.
• Florintree initially acquired a 5% stake (7.38 million shares) in Seshaasai for Rs 250 crore at Rs 339 per share, but now holds a 4.38% stake (6.58 million shares). The firm appears to have reduced its stake before the IPO, transferring shares to an Indian high-net-worth individual at cost.
• Seshaasai intends to use Rs 197.9 crore from the IPO proceeds to expand its 24 manufacturing units and Rs 300 crore to prepay debt. The company provides electronic chips and tags for payment, communication, and IoT solutions.

Prithvi Durai

Florintree Capital Partners, a private equity firm floated by former Blackstone executive Mathew Cyriac, is sitting on a decent upside on its investment in a technology company it backed less than a year ago, VCCircle has gathered.

The PE firm, which clocked a spectacular exit from Data Patterns (India) Ltd last ......

Florintree sits on neat upside on less than year-old technology bet

Private Equity

Mathew Cyriac

Florintree Capital Partners, a private equity firm floated by former Blackstone executive Mathew Cyriac, is sitting on a decent upside on its investment in...

Florintree Advisors

Seshaasai Technologies Ltd

Florintree

VC_Desk_Story_Masthead

VC_Desk_Story_A_300x250

VC_Desk_Story_B_300x250

VC_Desk_Story_C_300x250

VC_Desk_Story_D_300x250

VC_Desk_Story_E_300x250

VC_Desk_Story_A_Skyscraper

VC_Desk_Story_B_Skyscraper

VC_Desk_Story_Inline_A_300x250

VC_Desk_Story_Inline_B_300x250

VC_Desk_Story_Inline_C_300x250

VC_Desk_Story_Inline_D_300x250

VC_Desk_Story_Inline_E_300x250

VC_Desk_Story_Footer

Media & Entertainment

Entertainment firm Rusk Media, which counts Info Edge and Audacity Venture Capital among its investors, has raised Rs 103 crore ......

IvyCap Ventures leads Rusk Media's Series B round

Electronics system design and manufacturing startup Ekkaa Electronics, data encryption company Pantherun Technologies, deep-tech startup UGX.ai, healthtech firm Fastest.Health, and ......

Ekkaa Electronics, Pantherun Technologies, UGX.ai, others raise funding

Sustainability-focused consumer brand Meolaa and astrology-based tech startup AskMyGuru (AMG) have raised early-stage funding, the companies said. 

Meolaa

Meolaa, which offers sustainability-focused ......

Meolaa, AskMyGuru secure early-stage funding

Travel-tech platform ixigo, which counts marquee venture capital firms such as Peak XV Partners and Elevation Capital among its backers, ......

Peak XV, Elevation-backed ixigo draws an equity investor as shares soar

Membrane Group India Pvt. Ltd, a Gurugram-based provider of industrial water and wastewater treatment systems, has secured a $50 million ......

GEF Capital to invest $50 mn in Membrane Group

Technology

Telecom

Turkish smartphone refurbishment platform Getmobil is gearing to raise an eight-figure sum in its Series A funding round to accelerate ......

Turkish electronics refurbishment platform Getmobil taps US investor for Series A

Anthropic, the artificial intelligence startup backed by Alphabet's Google and Amazon.com, said on Tuesday it will open its first office ......

Florintree sits on neat upside on less than year-old technology bet

New to VCCircle.com?

Related Articles

TMT