Sedemac Mechatronics surges 7.4% on trading debut amid weak markets

Sedemac Mechatronics shares debuted 7.4% higher on listing, while Walmart-backed Flipkart is preparing to invite banks to pitch for work on its potential IPO

Shares of Sedemac Mechatronics rose 7.4 per cent during their trading debut on Wednesday. After hitting a high of ₹1,613, the stock settled at ₹1,452, up ₹100, or 7.4 per cent, over its issue price of ₹1,352.  The company’s IPO had garnered 2.7 times subscription amid challenging market conditions. Sedemac’s ₹1,087-crore IPO is entirely an offer for sale (OFS). At the last close, the company was valued at ₹6,412 crore.

 

Flipkart set to pitch for IPO in April 

Online retailer Flipkart Internet is set to start the formal process for banks to pitch for work on its potential initial public offering (IPO) as soon as next month, according to sources. The Walmart-backed e-commerce company has already held informal talks with investors and bankers to gauge appetite for a listing in Mumbai. Sources said an IPO could take place later this year or early 2027.  Deliberations are at an early stage and details such as timing may change, the people said. A Flipkart representative didn’t respond to a request for comment. Bloomberg