The floor price has been set at ₹3,000 per share, which represents a discount of up to 1.2% to the company’s current market price, sources added.
The sellers include A91 Emerging Fund, Xponentia Opportunities Fund and HDFC Life Insurance Company, among others. The shares sold through the transaction will be subject to a 60-day lock-in on further sale.
ALSO READ | Sedemac Mechatronics shares list at 13% premium to issue price despite tepid IPO response
Pune-based Sedemac Mechatronics is a supplier of control-intensive, critical-to-the-application electronic control units (ECUs) to original equipment manufacturers (OEMs) in the mobility and industrial markets in India, the US, and Europe.
It develops, designs and manufactures sensor-less commutation-based integrated starter generators ECUs for two-wheeler and three-wheeler internal combustion engine-powered vehicles.
The company’s customers included TVS Motor Company, Bajaj Auto, Kirloskar Oil Engines, Briggs and Stratton LLC, and DEIF India.
Shares of SEDEMAC Mechatronics Ltd ended at ₹3,052.50, up by ₹19.10, or 0.63%, on the BSE.ALSO READ | Sedemac Mechatronics IPO: Analysts cautious on valuations as issue opens today