SEDEMAC Mechatronics IPO Update: GMP, Subscription Status, and Investor Considerations

SEDEMAC Mechatronics IPO Update

Issue Details

The public issue of SEDEMAC Mechatronics will close on March 6, with a price band of ₹1,287 to ₹1,352 per share. The company's valuation at the upper end of the band is approximately ₹6,000 crore.

Subscription Status

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As of March 5, the issue has witnessed weak subscription, with the overall subscription standing at 0.28 times. Retail investors have applied for 0.05 times the shares reserved for them, while the non-institutional investor segment has subscribed 0.04 times. The QIB category has recorded bids worth 0.87 times the allocated shares.

Grey Market Premium

The grey market premium (GMP) for SEDEMAC Mechatronics is currently ₹50, indicating a listing price of ₹1,402, up 3.7% from the IPO price of ₹1,352.

Listing and Allotment

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The company is expected to finalize the basis of allotment on March 9, with refunds to unsuccessful bidders likely to begin on March 10. Shares will be credited to successful applicants' demat accounts on March 10. The company's shares are scheduled to list on the BSE and NSE on March 11.

Ratings and Review

• Swastika Investmart: Avoid
• Anand Rathi Share & Stock Brokers: Subscribe for long-term
• Ventura Securities: Subscribe

The IPO is structured entirely as an offer for sale (OFS), with a total of 80,43,300 equity shares being sold by existing shareholders, including promoters Manish Sharma and Ashwini Amit Dixit. The company itself will not receive any proceeds from the offering.