Sedemac Mechatronics IPO Subscribed 2.68 Times

New Delhi, Mar 6 (PTI) The initial public offering of Sedemac Mechatronics Ltd, a powertrain controls and auto parts manufacturer, received 2.68 times subscription on the last day of bidding on Friday.

The Rs 1,087-crore IPO got bids for 1,51,11,151 shares against 56,32,899 shares on offer, as per data available with the NSE.

The category for qualified institutional buyers (QIBs) attracted 8.46 times subscription. The portion for non-institutional investors received 77 per cent subscription and retail individual investors (RIIs) category got subscribed 20 per cent.

Sedemac Mechatronics has garnered Rs 326 crore from anchor investors.

The price band has been fixed at Rs 1,287 to Rs 1,352 per share, valuing the company at close to Rs 6,000 crore at the higher end.


The IPO is entirely an offer-for-sale (OFS) of up to 80,43,300 equity shares by promoters Manish Sharma and Ashwini Amit Dixit, and selling shareholders.

Since the public issue is completely an OFS, Sedemac Mechatronics will not receive any proceeds from the IPO.

Pune-based Sedemac Mechatronics is a supplier of control-intensive, critical-to-the-application electronic control units (ECU) to original equipment manufacturers (OEMs) in the mobility and industrial markets in India, the US, and Europe.

The company's customers included TVS Motor Company, Bajaj Auto, Kirloskar Oil Engines, Briggs and Stratton LLC, and DEIF India.

ICICI Securities, Avendus Capital, and Axis Capital are the book-running lead managers for the IPO.