SEDEMAC IPO closes today; check latest subscription, GMP, listing date

Brokerages have broadly recommended subscribing to the issue from a long-term perspective, while remaining cautious about potential listing gains

Technology-driven automotive electronics firm SEDEMAC Mechatronics has received a muted response from investors for its initial public offering (IPO), which closes for subscription today. The company aims to raise ₹1,087.45 crore through its maiden public issue.

 

The IPO, offered in a price band of ₹1,287–₹1,352 per share with a lot size of 11 shares, received bids for 26,05,218 shares against 56,32,899 equity shares available for subscription by the end of the second day of bidding on March 5, according to data from National Stock Exchange of India. This translates into an overall subscription of 46 per cent.

 

Except for the qualified institutional buyers (QIBs) segment, other investor categories are yet to be fully subscribed. The QIB portion has been oversubscribed 1.27 times. Meanwhile, non-institutional investors (NIIs) and retail investors have subscribed to 25 per cent and 9 per cent of their respective quotas.

 

 

Brokerages, meanwhile, have broadly recommended subscribing to the issue from a long-term perspective, while remaining cautious about potential listing gains. READ MORE 

Grey market sentiment also remained negative on the final day of subscription. Sources tracking grey market activity said the unlisted shares of SEDEMAC Mechatronics were trading at around ₹1,348, reflecting a discount of ₹4 per share, or 0.30 per cent, to the upper end of the issue price band of ₹1,352. 

SEDEMAC Mechatronics IPO details

The public issue of SEDEMAC Mechatronics comprises entirely an offer for sale (OFS), with promoters and existing shareholders divesting up to 8 million equity shares, aggregating ₹1,087.45 crore.

 

According to the red herring prospectus (RHP), promoters Manish Sharma and Ashwini Amit Dixit are participating in the OFS. Other selling shareholders include A91 Emerging Fund II LLP, NRJN Family Trust (represented by Entrust Family Office Legal & Trusteeship Services Private Limited), Xponentia Opportunities Fund II, Mace, 360 One Special Opportunities Fund – Series 8, 360 One Monopolistic Market Intermediaries, HDFC Life Insurance Company, and Xponentia Opportunities.

 

Investors can bid for a minimum of 11 shares and in multiples thereafter. At the upper end of the price band, a retail investor would need at least ₹14,872 to apply for one lot, while the maximum retail application of 13 lots (143 shares) would require ₹1,93,336.

 

With the public issue closing today, the basis of allotment is likely to be finalised on Monday, March 9, 2026. Shares of SEDEMAC Mechatronics are expected to list on the bourses on Wednesday, March 11, 2026. 

 

As stated in the RHP, the company will not receive any proceeds from the issue since it is entirely an OFS. “Each of the selling shareholders will be entitled to their respective portion of the proceeds from the offer for sale in proportion to the equity shares offered by them as part of the OFS, after deducting their proportion of offer-related expenses and relevant taxes thereon,” the company said.

 

MUFG Intime India is the registrar to the issue, while ICICI Securities, Avendus Capital, and Axis Capital are the book-running lead managers.