IIT Bombay's SINE To Pocket ₹55 Crore From SEDEMAC Mechatronics IPO Exit

New Delhi: Society for Innovation and Entrepreneurship (SINE) -- the IIT Bombay-backed broad-spectrum technology business incubator -- is selling about 4 lakh shares in the SEDEMAC Mechatronics initial public offering (IPO), according to the filings. The company’s red herring prospectus (RHP) has highlighted that SINE will offload 4,08,000 equity shares. On a pre-offer paid-up equity share capital basis, this represents 0.92 per cent, indicating that the incubator is expected to earn roughly Rs 55 crore from the sale. The public issue of the Pune-based technology company, which opened on March 4, is scheduled to close on Friday, March 6. According to BSE data, the IPO was fully booked on its last share sale offer, receiving bids for 94,49,242 shares against 56,32,899 shares on offer, suggesting a 1.68‑times subscription by 2:18 pm. The tech firm has fixed the IPO price band between Rs 1,287 and Rs 1,352 per share, valuing the company at nearly Rs 6,000 crore at the upper end. It is entirely an offer for sale (OFS) of up to 80,43,300 equity shares by promoters Manish Sharma and Ashwini Amit Dixit, along with other investors selling shareholders. Pune-based SEDEMAC Mechatronics develops, designs and manufactures control-intensive, application-critical electronic control units (ECUs) for original equipment manufacturers (OEMs) in mobility and industrial sectors across India, the US, and Europe. The company specialises in sensor-less commutation-based integrated starter generator ECUs for two- and three-wheeler internal combustion engine vehicles. Its key customers include TVS Motor Company, Bajaj Auto, Kirloskar Oil Engines, Briggs & Stratton LLC, and DEIF India. On the financial front, SEDEMAC reported revenue of Rs 217.35 crore and a net profit of Rs 17.07 crore for the quarter ended June 30, 2025. In FY25, it posted revenue of Rs 658.36 crore and PAT of Rs 47.04 crore. Shares of SEDEMAC Mechatronics Ltd are expected to make their Dalal Street debut on March 11. The IPO allocation comprises 50 per cent for qualified institutional buyers (QIBs), 35 per cent for retail investors, and 15 per cent for non-institutional investors (NIIs). ICICI Securities, Avendus Capital, and Axis Capital are the book-running lead managers.