Sedemac Mechatronics IPO Subscription Update

Sedemac Mechatronics, a powertrain controls and auto parts manufacturer, launched its Initial Public Offering (IPO) with a price band of Rs 1,287 to Rs 1,352 per share, aiming for a valuation of close to Rs 6,000 crore. The IPO is entirely an offer-for-sale of up to 80,43,300 equity shares by promoters Manish Sharma and Ashwini Amit Dixit, and other selling shareholders including A91 Emerging Fund II LLP, NRJN Family Trust, Xponentia Capital Partners, Mace Private Limited, 360 One Group, and HDFC Life Insurance Company. The company will not receive any proceeds from the IPO. On its second day, the IPO received 46% subscription, with Qualified Institutional Buyers (QIBs) subscribing 1.27 times their quota, while non-institutional investors and Retail Individual Investors (RIIs) showed lower interest. By the final day, the IPO was subscribed 78%. ICICI Securities, Avendus Capital, and Axis Bank===Axis Capital are the book-running lead managers. Sedemac Mechatronics supplies electronic control units to OEMs like TVS Motor Company, Bajaj Auto, Kirloskar Oil Engines, Briggs & Stratton, and DEIF===DEIF India.