Shares changed hands at an average price of ₹3,010 per share, taking the total transaction value to ₹1,469 crore. Multiple sellers are likely to have sold shares in this transaction. Buyers are not officially known yet.
CNBC-TV18 had reported on Wednesday at as many as six shareholders, namely A91 Emerging Fund II LLP, Xponentia Capital Partners LLP, Xponentia Opportunities Fund II, Xponential Opportunities Ltd., Mace Pvt. Ltd., and HDFC Life Insurance are likely to sell stake in Sedemac Mechatronics, as part of the block deal.
Floor price of the transaction was fixed at ₹3,000 per share, which was a 1.2% discount to the stock’s closing price on Wednesday.
There is also a lock-up of 60 days on the further sale of shares for the sellers.
At the end of the June quarter, promoters of Sedemac Mechatronics held a 26.23% stake in the company, while public shareholders held the rest.
Among the public shareholders, Mutual Funds had a 15.33% stake in the company, Alternate Investment Funds had a 21.59% stake, HDFC Life had a 2.4% stake, while Exponeitia and Mace had a 2.25% and 4.05% stake in the company as per the BSE shareholding pattern.Shares of Sedemac Mechatronics ended 1.3% higher on Wednesday at ₹3,075. The stock listed in March this year, and has already risen 127% from its issue price of ₹1,352.