SEDEMAC’s OFS-Only IPO To Open On March 4, Price Band Set At ₹1,287-1,352

Deeptech company SEDEMAC Mechatronics’ IPO will open for bidding on March 4 (Wednesday) and close on March 6 (Friday). The anchor bidding will take place on March 2 (Monday).

Notably, the IPO will not have any fresh issue and will comprise only an offer for sale (OFS) of up to 80.43 Lakh shares. The company kept the size of the OFS component unchanged from its DRHP in its RHP.

It has set a price band of ₹1,287 to ₹1,352 per share for the IPO. At the upper end of the price band, the company is seeking a valuation of about ₹5,970 Cr (about $657 Mn). The size of the IPO would be ₹1,087 Cr.

The IIT Bombay-incubated startup received SEBI’s nod for the IPO earlier this month.

Selling shareholders include cofounders and promoters Manish Sharma and Ahswini Amit Dixit, who are offloading 45K and 67.5K shares, respectively. 

NRJN Family Trust and Xponentia Capital are the biggest selling shareholders and investors with 10.5 Lakh and 10.43 Lakh shares on offer, respectively. A91 Partners, 360 ONE Asset, HDFC Life Insurance and Mace Group are among the other investors who will pare their stake.

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