Home / Business and Economy / Sedemac IPO Debuts Strong: 13.5% Premium on Debut
Sedemac IPO Debuts Strong: 13.5% Premium on Debut
11 Mar
Summary
- Sedemac Mechatronics shares listed with a 13.5% premium.
- The company's market valuation reached Rs 6,825.38 crore.
- Sedemac supplies electronic control units to global auto manufacturers.
Sedemac Mechatronics Ltd, a key player in powertrain controls and auto parts manufacturing, commenced trading on Wednesday with a notable 13.5% premium. The shares opened at Rs 1,510 on the BSE, an increase from its issue price of Rs 1,352, later climbing to Rs 1,613.50. At the NSE, the stock debuted at Rs 1,535, reflecting the same significant premium.
The company's market capitalization surged to Rs 6,825.38 crore following its listing. Sedemac's initial public offering, valued at Rs 1,087 crore, had garnered 2.68 times subscription. This IPO was structured entirely as an Offer For Sale, meaning Sedemac Mechatronics will not receive proceeds from the share sale.
Based in Pune, Sedemac Mechatronics specializes in supplying electronic control units (ECUs) to original equipment manufacturers (OEMs) across the mobility and industrial sectors. Its clientele includes prominent names such as TVS Motor Company, Bajaj Auto, Kirloskar Oil Engines, and Briggs and Stratton LLC, serving markets in India, the United States, and Europe.
