Sedemac Mechatronics Ltd.'s initial public offering opened for subscription on Wednesday. The Rs 1,087.45-crore IPO is exclusively an offer for sale of 80.43 lakh shares and no fresh issue component. The subscription window will close on March 6.
The company has fixed the price band of Rs 1,287 to Rs 1,352 per share. The minimum bid size for retail investors is 11 shares (Rs 14,872). Sedemac Mechatronics has garnered Rs 326 crore from anchor investors.
Under the OFS, A91 Emerging Fund II LLP, NRJN Family Trust, Mumbai-based Xponentia Capital Partners, Mace Pvt Ltd, 360 One group, and HDFC Life Insurance Company were the other investors who will offload their stakes in the company.
Since the public issue is completely an OFS, Sedemac Mechatronics will not receive any proceeds from the IPO.
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IPO GMP
The grey market premium (GMP) for the Sedemac Mechatronics IPO stood at Rs 60 lower than the upper limit of the issue price at 08:37 a.m. on March 5, according to InvestorGain. The latest GMP indicates an estimated listing price of Rs 1,335 per share, at a discount of 1.26% over the upper limit of the issue price of Rs 1,352.
Note: GMP does not represent official data and is based on speculation.
About the Company
Pune-based Sedemac Mechatronics is a supplier of control-intensive, critical-to-the-application electronic control units (ECU) to original equipment manufacturers (OEM) in the mobility and industrial markets in India, the US, and Europe.
It develops, designs and manufactures sensor-less commutation-based integrated starter generators ECUs for two-wheeler and three-wheeler internal combustion engine-powered vehicles.
The company's customers included TVS Motor Company, Bajaj Auto, Kirloskar Oil Engines, Briggs and Stratton LLC, and DEIF India.
According to its offer documents, the company is also a market leader in India for genset controllers with an estimated market share of 75% to 77% during the nine months ended December 2025.
ICICI Securities Ltd., Axis Capital Ltd. and Avendus Capital Pvt. are the merchant bankers to the IPO.
ALSO READ: Sedemac Mechatronics IPO Day One: Check Subscription Status, Latest GMP
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