Sedemac Mechatronics' initial public offering was subscribed 0.28 times on its second day. The company, a supplier of electronic control units for vehicles, is raising Rs 1,087.45 crore entirely through an offer for sale.
Sedemac Mechatronics Ltd's initial public offering (IPO) entered its second day of subscription on Thursday (March 5), drawing moderate interest from investors so far. The public issue, which opened for bidding on March 4, will remain available for subscription until March 6.
Investors are closely tracking the subscription numbers as well as the grey market premium (GMP), which often indicates market sentiment ahead of listing. The allotment of shares is expected to be finalised on March 9, while the company's shares are tentatively scheduled to debut on the stock exchanges on March 11.
What Sedemac Mechatronics Does
Sedemac Mechatronics Ltd is known for supplying electronic control units (ECUs), which are crucial for the functioning of various machines and vehicles. These application-specific components help manage complex systems in real time.
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The company designs and manufactures sensorless commutation (SLC)-based integrated starter generator (ISG) ECUs, mainly used in two-wheelers and three-wheelers powered by internal combustion engines. Apart from this, it also develops generator controllers (GCs) equipped with integrated electronic governing (eGov) technology, which helps optimise engine and generator performance.
Sedemac Mechatronics IPO: Key Issue Details
The Sedemac Mechatronics IPO is a book-built issue worth Rs 1,087.45 crore. The entire issue is an offer for sale (OFS), with existing shareholders offloading around 0.80 crore shares.
The price band for the IPO has been fixed between Rs 1,287 and Rs 1,352 per share. Investors can apply for the issue in a minimum lot size of 11 shares, which means retail investors need to invest at least Rs 14,157 to participate.
ICICI Securities, Avendus Capital and Axis Capital are the book-running lead managers for the issue. MUFG Intime India, formerly known as Link Intime India, has been appointed as the registrar.
Sedemac Mechatronics IPO Day 2 Subscription Status
According to data available on the NSE as of 10:39 am on March 5, the IPO has been subscribed 0.28 times overall.
The Qualified Institutional Buyers (QIB) category saw the highest interest with 0.87 times subscription. The employee portion was subscribed 0.83 times. Meanwhile, the retail individual investors' (RII) category was subscribed 0.04 times, and the non-institutional investors (NII) segment saw a subscription of 0.03 times.
