Seshaasai Technologies shares slump 7% post listing. Should investors buy the dip?
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Shares of Seshaasai Technologies, a technology-driven multi-location solutions provider to the BFSI industry, tumbled nearly 7% from their listing price on Tuesday, post-debut, erasing early gains and raising questions for investors. The stock listed at Rs 436 on the BSE, a modest 3.07% premium over its IPO price of Rs 423, and at Rs 432 on the NSE, a 2.13% premium. However, the euphoria was short-lived as the stock slipped to an intraday low of Rs 405.80 on the BSE, marking a 6.9% fall from the listing level. The sharp reversal, despite the IPO’s strong subscription numbers, has left investors assessing whether this correction presents a buying opportunity. In such a case, should investors now buy this dip? According to Prashanth Tapse, Senior VP (Research), Mehta Equities, the muted listing of Seshaasai Technologies came as a surprise given its strong fundamentals, reasonable valuations, and robust demand, with the IPO being subscribed ...