The Initial Public Offering (IPO) of SEDEMAC Mechatronics, a company specializing in electronic control systems, opened with subdued demand, garnering only a 1% subscription rate by 12:21 IST on the first day of bidding.
The public issue attracted bids for 64,064 shares out of the total 56.33 lakh shares available for subscription. The segment reserved for qualified institutional buyers (QIBs) received no bids, indicating a lukewarm response from institutional investors. The non-institutional investors (NII) category saw a minimal subscription rate of 0.01 times, with bids coming in for 6,996 shares against 12.05 lakh shares on offer. The retail segment demonstrated slightly higher interest, reaching a 2% subscription rate with bids for 54,054 shares against 28.12 lakh shares reserved.
SEDEMAC Mechatronics, founded in 2007, is offering an entirely OFS IPO with 80.43 lakh shares, aiming to raise approximately ₹1,087 crore and seeking a valuation of around ₹5,970 crore.
The lukewarm reception of the IPO may shed light on the challenges deeptech companies face in attracting investor interest. The final subscription numbers and the subsequent listing of SEDEMAC Mechatronics’ shares will be closely watched by industry experts for insights into the investor sentiment towards deeptech ventures.
Source: Inc42 Media