Shares of Sedemac Mechatronics Ltd are likely to see activity on Thursday as investors look set to sell a stake in the company through a block deal.
According to sources cited by CNBC-TV18, up to 44.3 lakh shares, representing around 10% of the company’s equity, could be sold in the transaction, with the deal expected to raise approximately Rs1,329 crore.
The floor price has been fixed at ₹3,000 per share, representing a discount of up to 1.2% to Sedemac Mechatronics’ prevailing market price, the report said.
The sellers are expected to include A91 Emerging Fund, Xponentia Opportunities Fund and HDFC Life Insurance Company, among others, the report showed.
Shares trade over 120% higher than IPO price
The shares were listed in March and have maintained a steady winning run, scaling multiple record highs. Considering the stock’s Wednesday closing price of ₹3,035, the stock is trading 124% higher than its IPO price of ₹1,352.
SEDEMAC Mechatronics is a supplier of control-intensive, critical-to-application electronic control units to leading original equipment manufacturers (OEMs) in the mobility and industrial markets across India, the United States and Europe.
The majority of its revenue from operations is attributed to products that incorporate novel control technologies conceived and developed entirely in-house, enabling the company to offer proprietary solutions that provide distinct value to end-users and OEM customers.
The company’s customers include TVS Motor Company, Bajaj Auto, Kirloskar Oil Engines, Briggs & Stratton LLC and DEIF India.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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