Sedemac Mechatronics has raised Rs 326 crore from anchor investors, including Abu Dhabi Investment Authority and several mutual funds, for its IPO opening on March 4. The IPO is an entire offer for sale with a price band of Rs 1,287 to Rs 1,352 per share. The company will debut on March 11.
Sedemac Mechatronics Secures Rs 326 Crore Pre-IPO from Anchor Investors
Sedemac Mechatronics, a powertrain controls manufacturer, has successfully secured Rs 326 crore from anchor investors ahead of its initial public offering (IPO) launch, according to an exchange update.
The allocation was distributed among 23 investors, encompassing domestic mutual funds, insurance companies, and foreign institutional investors such as Abu Dhabi Investment Authority and ICICI Prudential Mutual Fund. Shares were allocated at a price of Rs 1,352 each.
The forthcoming Rs 1,087-crore IPO, scheduled from March 4 to March 6, is an exclusive offer for sale. Prominent stakeholders like A91 Emerging Fund II LLP and HDFC Life Insurance Company will offload significant holdings. Sedemac Mechatronics currently serves markets in India, the US, and Europe.
