SEDEMAC, a deeptech company, witnessed a 31% subscription rate for its initial public offering (IPO) on the second day of bidding. The IPO attracted 17.42 Lakh bids out of the 56.33 Lakh shares available, indicating tepid investor interest amid a turbulent market.
Qualified institutional buyers (QIBs) bid for 87% of their allotment, amounting to around 14 Lakh shares, with demand solely driven by mutual funds. Retail investors bid for 6% of their quota, while non-institutional investors (NIIs) bid for 13% of their quota. Notably, investors bidding over ₹10 Lakh led interest in the NII category.
SEDEMAC’s employees oversubscribed their quota by 1.27X, showing internal support for the IPO. The company has set a price band of ₹1,287 to ₹1,352 for its public offering, with anticipation for listing on the BSE.
Source: Inc42 Media