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IIT Bombay's SINE to Pocket Rs 55 Crore from SEDEMAC Mechatronics IPO

The IIT Bombay-backed incubator SINE is set to earn approximately Rs 55 crore by selling its stake in the SEDEMAC Mechatronics IPO. The public issue, which is entirely an offer for sale, was fully subscribed on its final day. SEDEMAC, a Pune-based tech firm specializing in electronic control units, is valued at nearly Rs 6000 crore at the upper price band. The company's shares are scheduled to debut on the stock exchanges on March 11.

Key Points: IIT Bombay's SINE to Gain Rs 55 Crore in SEDEMAC IPO

  • SINE selling 4.08 lakh shares
  • IPO price band Rs 1287-1352
  • Offer fully subscribed 1.68 times
  • Company valued near Rs 6000 crore
2 min read

IIT Bombay-backed incubator SINE to fetch Rs 55 crore in SEDEMAC Mechatronics IPO

IIT Bombay's incubator SINE sells shares in SEDEMAC Mechatronics IPO, set to earn ~Rs 55 crore. IPO fully subscribed, price band Rs 1287-1352.

"The incubator is expected to earn roughly Rs 55 crore from the sale. - IPO Filings"

New Delhi, March 6

Society for Innovation and Entrepreneurship -- the IIT Bombay-backed broad-spectrum technology business incubator -- is selling about 4 lakh shares in the SEDEMAC Mechatronics initial public offering, according to the filings.

The company's red herring prospectus (RHP) has highlighted that SINE will offload 4,08,000 equity shares.

On a pre-offer paid-up equity share capital basis, this represents 0.92 per cent, indicating that the incubator is expected to earn roughly Rs 55 crore from the sale.

The public issue of the Pune-based technology company, which opened on March 4, is scheduled to close on Friday, March 6.

According to BSE data, the IPO was fully booked on its last share sale offer, receiving bids for 94,49,242 shares against 56,32,899 shares on offer, suggesting a 1.68‑times subscription by 2:18 pm.

The tech firm has fixed the IPO price band between Rs 1,287 and Rs 1,352 per share, valuing the company at nearly Rs 6,000 crore at the upper end. It is entirely an offer for sale (OFS) of up to 80,43,300 equity shares by promoters Manish Sharma and Ashwini Amit Dixit, along with other investors selling shareholders.

Pune-based SEDEMAC Mechatronics develops, designs and manufactures control-intensive, application-critical electronic control units (ECUs) for original equipment manufacturers (OEMs) in mobility and industrial sectors across India, the US, and Europe.

The company specialises in sensor-less commutation-based integrated starter generator ECUs for two- and three-wheeler internal combustion engine vehicles.

Its key customers include TVS Motor Company, Bajaj Auto, Kirloskar Oil Engines, Briggs & Stratton LLC, and DEIF India.

On the financial front, SEDEMAC reported revenue of Rs 217.35 crore and a net profit of Rs 17.07 crore for the quarter ended June 30, 2025. In FY25, it posted revenue of Rs 658.36 crore and PAT of Rs 47.04 crore.

Shares of SEDEMAC Mechatronics Ltd are expected to make their Dalal Street debut on March 11.

The IPO allocation comprises 50 per cent for qualified institutional buyers (QIBs), 35 per cent for retail investors, and 15 per cent for non-institutional investors (NIIs). ICICI Securities, Avendus Capital, and Axis Capital are the book-running lead managers.

- IANS

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Reader Comments

P
Priya S
The subscription numbers look healthy. I applied for the IPO, hoping to get an allotment. SEDEMAC seems like a solid company with good clients like TVS and Bajaj. Fingers crossed for a good listing! 🤞
R
Rohit P
While the success is commendable, the valuation at nearly Rs 6000 crore seems a bit steep for a company with ~Rs 47 Cr PAT. Hope retail investors have done their homework and aren't just following the IIT brand name.
M
Michael C
Interesting to see a Pune-based tech firm with such global reach (US and Europe). The focus on ECUs for two/three-wheelers is smart, given the market size in India and similar economies. A good example of 'Make in India' for the world.
S
Sneha F
The 1.68x subscription is okay, but not super exciting compared to some recent IPOs. Maybe the price band is a factor. Still, it's a fully OFS issue, so the money goes to selling shareholders, not for company growth. Something to keep in mind.
K
Karthik V
As an alum, proud to see SINE's success! This exit will fund the next generation of student entrepreneurs. Hope this inspires more IITians to build in India instead of just going for high-paying jobs abroad. Jai Hind!

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