SEDEMAC Mechatronics has secured ₹325.89 crore from anchor investors ahead of the opening of its initial public offering (IPO), which will be open for subscription from March 4 to March 6. The deeptech firm allotted 24.10 lakh equity shares to anchor investors at ₹1,352 per share, the upper end of its IPO price band of ₹1,287 to ₹1,352.
Among the anchor investors were prominent names such as HDFC Mutual Fund, Abu Dhabi Investment Authority, Goldman Sachs, Invesco India and others. Of the total anchor allocation, 68.09% — amounting to 16.41 lakh shares — was allocated to 10 domestic mutual funds across 14 schemes. These included HDFC Mutual Fund, SBI Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, Aditya Birla Sun Life Mutual Fund, Tata Mutual Fund, Helios Mutual Fund, HSBC Mutual Fund, Sundaram Mutual Fund and Invesco Mutual Fund.
Forty percent of the anchor portion had been earmarked for domestic mutual funds, life insurance companies and pension funds. However, the company stated that it did not receive bids from life insurance or pension funds, and the unsubscribed portion was subsequently reassigned to domestic mutual funds.
At the top end of the price band, SEDEMAC is targeting a valuation of approximately ₹5,970 crore (around $652 million). The IPO is entirely an offer for sale (OFS) of up to 80.43 lakh shares, translating to a total issue size of ₹1,087 crore at ₹1,352 per share. The company’s shares are expected to be listed on the stock exchanges on March 11.
The IIT Bombay-incubated company received regulatory approval from SEBI for the public issue last month. The OFS will see shares being sold by several existing stakeholders, including co-founders Manish Sharma and Ashwini Amit Dixit, who plan to offload 45,000 and 67,500 shares respectively.
NRJN Family Trust and Xponentia Capital are the largest selling shareholders in the offering, proposing to sell 10.5 lakh and 10.43 lakh shares respectively. Other investors such as A91 Partners, 360 ONE Asset, HDFC Life Insurance and Mace Group will also reduce their holdings. A91 Partners currently holds an 18.16% stake in SEDEMAC prior to the IPO, while Xponentia Capital owns 11.06%.
Founded in 2007 by IIT Bombay professor Shashikanth Suryanarayana along with Pushkaraj Panse, Manish Sharma and Ashwini Amit Dixit, SEDEMAC develops and manufactures electronic control systems used in mobility and industrial applications. The mobility segment contributes nearly 86% of the company’s total revenue. Its client portfolio includes Tata Motors, Mahindra Group, Ashok Leyland and TVS Motor.
Financially, SEDEMAC reported a net profit of ₹71.4 crore during the first nine months of FY26 on operating revenue of ₹770.7 crore. In FY25, the company posted an eightfold year-on-year increase in net profit to ₹47.1 crore, while revenue grew 24% to ₹658.4 crore.
The company last raised funding in May 2024, securing $100 million in a round largely comprising secondary transactions, at a valuation of $260 million at the time.
Upon listing, SEDEMAC is set to become the fifth new-age technology company to debut on Indian stock exchanges this year, reflecting continued investor appetite amid the ongoing IPO momentum in the tech sector.
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