The initial public offering (IPO) of Sedemac Mechatronics Ltd, a Pune-based manufacturer of powertrain control systems and automotive components, was fully subscribed on Friday, March 6, the final day of bidding, supported largely by strong interest from institutional investors.
The issue had received 46% subscription by the end of the second day.
According to BSE data, the IPO received bids for 1,51,10,909 shares against the 56,32,899 shares on offer, translating to an overall subscription of 2.68 times.
Category-wise demand showed Qualified Institutional Buyers (QIBs) leading the response with 8.46 times subscription. The Non-Institutional Investors (NII) portion was subscribed 77%, while the Retail Individual Investors (RIIs) segment saw a relatively muted response at 20% subscription. Meanwhile, the employee quota recorded a healthy 2.95 times subscription.
