Shares of made a strong stock market debut, listing at a premium of 12–13.5 per cent over the issue price of ₹1,352 and extending gains in early trade. The robust listing reflected healthy investor appetite for the powertrain controls and automotive components manufacturer.
Sedemac Mechatronics stock movement on the NSE at around 10.15 am
On the , the stock debuted at a 13.5 per cent premium at ₹1,535 and later climbed further to hit an intraday high of ₹1,613.50, marking a 19 per cent sharp upward movement from offer price. Meanwhile, on the , the shares opened at ₹1,510, registering a 12 per cent premium to the issue price.
The ₹1,087-crore initial public offering of Sedemac Mechatronics Ltd received an overall subscription of 2.68 times. Demand was led by institutional investors, with the qualified institutional buyers segment subscribed 8.46 times. The portion reserved for non-institutional investors saw a subscription of 77 per cent, while the retail individual investors category was subscribed 20 per cent.
Ahead of the IPO, the company raised ₹326 crore from anchor investors.
The IPO was entirely an offer-for-sale of up to 80,43,300 equity shares by promoters Manish Sharma and Ashwini Amit Dixit along with other selling shareholders. The price band for the issue was fixed at ₹1,287 to ₹1,352 per share, valuing the company at nearly ₹6,000 crore at the upper end.
Sedemac Mechatronics manufactures advanced engine and powertrain control systems and supplies to leading automotive manufacturers including TVS Motor Company, Bajaj Auto, Kirloskar Oil Engines, Briggs & Stratton and DEIF India.