Sedemac Mechatronics IPO allotment is expected by March 9, while share listing is proposed on March 11.

Initial share sale: Rs 1,087 crore
Price band: Rs 1,287 to Rs 1,352 per share
Valuation: Close to Rs 6,000 crore at the higher end

Sedemac Mechatronics IPO subscribed 78% on final of bidding so far; QIB portion fully booked - Check GMP

Sedemac Mechatronics IPO Receives 78% Subscription on Final Day

The initial public offer (IPO) of Sedemac Mechatronics, a powertrain controls and auto parts manufacturer, has received a subscription of 78% on the final day of bidding on Friday. According to the data available with the NSE till 12:20 pm, the company received bids for 44.07-lakh shares as against 56.32-lakh shares on offer.

Subscription Details

Qualified Institutional Buyers (QIBs): 2.26 times subscription
Non-institutional investors: 32% subscription
Retail Individual Investors (RIIs): 12% subscription

The company had earlier garnered Rs 326 crore from anchor investors. The company's shares were commanding a flat GMP in the unofficial market.

About Sedemac Mechatronics

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 include TVS Motor Company, Bajaj Auto, Kirloskar Oil Engines, Briggs and Stratton LLC, and DEIF India.