REASON Mechatronics has raised ₹325.89 Cr from anchor investors like HDFC Mutual Fund, Abu Dhabi Investment Authority, Goldman Sachs, Invesco India, among others, before its IPO opens for public subscription on Wednesday (March 4) and closes on Friday (March 6).
The deeptech company 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.
Out of the total anchor allocation, 68.09%, or 16.41 Lakh shares, were allotted 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.
A total of 40% of the anchor portion was reserved for domestic mutual funds, life insurance companies and pension funds. However, the company said it did not receive any bids from life insurance companies and pension funds. The unsubscribed portion was reallocated to domestic mutual funds.
At the top end of the price band, SEDEMAC is seeking a valuation of about ₹5,970 Cr (about $652 Mn).
The IPO is entirely an offer for sale (OFS) of up to 80.43 Lakh shares. At ₹1,352 per share, the total IPO size stands at ₹1,087 Cr.
The company’s shares are expected to list on the exchanges on March 11.
The IIT Bombay-incubated company received SEBI approval for its IPO last month. Selling shareholders in the OFS include cofounders Manish Sharma and Ashwini Amit Dixit, who will offload 45,000 and 67,500 shares, respectively.
NRJN Family Trust and Xponentia Capital are the largest selling shareholders, offering 10.5 Lakh and 10.43 Lakh shares, respectively. A91 Partners, 360 ONE Asset, HDFC Life Insurance and Mace Group will also pare their stakes. A91 Partners holds an 18.16% stake in the company pre-IPO, while Xponentia owns 11.06%.
Founded in 2007 by IIT Bombay professor Shashikanth Suryanarayana along with Pushkaraj Panse, Sharma and Dixit, SEDEMAC designs and manufactures electronic control systems for mobility and industrial applications. The mobility segment accounts for nearly 86% of its revenue. Its clients include Tata Motors, Mahindra Group, Ashok Leyland and TVS Motor.
On the financial front, the company reported a net profit of ₹71.4 Cr in the first nine months of FY26 on an operating revenue of ₹770.7 Cr. In FY25, its net profit rose eightfold YoY to ₹47.1 Cr, while revenue increased 24% to ₹658.4 Cr.
SEDEMAC last raised funding in May 2024, securing $100 Mn in a round largely comprising secondary transactions. The company was valued at $260 Mn at the time.
Following its listing, SEDEMAC will become the fifth new-age tech company to go public this year amid the ongoing IPO boom in the segment.
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