SEDEMAC Mechatronics IPO allotment: Step-by-step guide to check status, GMP, listing date

SEDEMAC Mechatronics is likely to finalize the basis of allotment of its shares on Monday, March 09. Applicant bidders will get the messages, alerts or emails for debit of their funds by Tuesday, March 10 or by Wednesday. The control electronics solutions maker received a muted response from the investors during the three day bidding period.

The IPO of SEDEMAC Mechatronics was open for bidding between March 04-March 06. It had offered its shares in the price band of Rs 1,287-1,352 per share with a lot size of 11 shares. The company eyed to raise a total of Rs 1,097 crore via IPO, which was entirely an offer-for-sale (OFS) of up to 4,41,61,500 equity shares.

The issue was overall subscribed only 2.68 with only 34,400 applications, fetching bids for Rs 2,043 crore. The portion for qualified-institutional bidders (QIBs) was subscribed 8.46 times. The quotas for non-institutional investors (NIIs) and retail bidders were undersubscribed at 77 per cent and 20 per cent, respectively. Employee portion was booked 2.95 times.

The grey market premium (GMP) of SEDEMAC Mechatronics has tanked sharply after muted bidding and jittered market sentiments. Last heard, it was commanding a discount of Rs 5-10 per share, suggesting a weak listing for the investors. The company was commanding a GMP around Rs 50-55 apiece, when the issue had opened for bidding.

Incorporated in 2007, Pune-based SEDEMAC Mechatronics is a technology company specializing in control electronics. It designs and manufactures powertrain controllers, motor control products, and integrated starter-generator solutions for automotive and industrial applications. It focuses on innovation through patented sensor-less motor control technology.

ICICI Securities, Axis Capital and Avendus Capital are the book running lead managers of the SEDEMAC Mechatronics IPO and MUFG Intime India is the registrar of the issue. Refund of the bodding amont shall be done on Tuesday, March 10. Shares of the company shall be listed on both BSE and NSE with March 11, Wednesday as the date of listing.

Investors, who had bid for the issue of SEDEMAC Mechatronics, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select SEDEMAC Mechatronics Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘SEDEMAC’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

• Go to the web portal of MUFG Intime India Limited
• Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.