Overview
- The offer opened March 4 with a price band of ₹1,287–₹1,352 for an entirely offer‑for‑sale issue of about ₹1,087 crore covering roughly 80.43 lakh shares.
- By the close of Day 1, total subscription stood at 27% with the QIB portion at 87%, retail at 3% and non‑institutional at 1%, according to NSE data.
- Ahead of launch, the company raised ₹325.89 crore through an anchor placement at ₹1,352, led by domestic mutual funds alongside ADIA, Goldman Sachs and Invesco.
- At the top end, the IPO implies a post‑issue market cap near ₹5,970 crore and P/E multiples around 126x FY25 and ~62x FY26 (annualised), drawing mixed broker views that skew to long‑term only or avoid on valuation.
- SEDEMAC designs control electronics for mobility and industrial clients such as Tata Motors, Mahindra, Ashok Leyland and TVS Motor, posted ₹47.1 crore profit in FY25 and about ₹71.4 crore in 9M FY26, and is slated to close March 6 with allotment on March 9 and a tentative March 11 listing.