Sedemac Mechatronics IPO: IIT Bombay to Score Multi-Crore Gain

IPO Overview

Sedemac Mechatronics, a Pune-based Deeptech auto electronics manufacturer, is set to list on March 11, following its initial public offering (IPO). The IPO, an entirely offer for sale (OFS), has been subscribed 78% as of March 6, with 44.07 lakh shares received against the 56.32 lakh shares on offer.

IIT Bombay's Stake Valuation

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The Society for Innovation and Entrepreneurship (SINE), IIT Bombay's startup incubator, holds approximately 408,000 shares in Sedemac Mechatronics. At the upper end of the IPO price band of Rs 1,352 per share, the stake is valued at approximately Rs 55 crore, representing a multi-crore gain for IIT Bombay.

Investor Returns

• A91 Emerging Fund II LLP: Selling up to 2.41 million shares worth approximately Rs 326 crore, with a potential gain of approximately Rs 237 crore.
• Xponentia Opportunities Fund II: Selling 1.04 million shares worth approximately Rs 141 crore, with a potential return of approximately 3.8 times.
• Mace Private Limited: Selling an undisclosed number of shares, with a potential return of approximately 3.8 times.
• Funds managed by 360 One: Selling undisclosed numbers of shares, with potential returns of approximately 3.5 times.
• HDFC Life Insurance Company Ltd: Selling an undisclosed number of shares, with a potential return of approximately 3.6 times.
• Family trusts, promoters: Expected to see substantial wealth creation from the listing, with NRJN Family Trust potentially seeing returns of more than 14 times.

Founders and Promoters

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The company's founding team, including Co-founder and IIT Bombay professor Shashikanth Suryanarayanan, is set to see substantial wealth creation from the listing. Suryanarayanan holds approximately 7.15 million shares, valued at approximately Rs 967 crore at the upper end of the price band. Fellow founders Amit Arun Dixit and Manish Sharma hold stakes worth approximately Rs 168 crore and Rs 117 crore, respectively, while promoter Anaykumar Avinash Joshi owns a stake worth approximately Rs 80 crore.