A91 Partners, Xponentia, 360 One set for quick multiples from Sedemac Mechatronics IPO
Automotive electronic and electrical component maker Sedemac Mechatronics is set to open its Rs 1,087-crore initial public offering (IPO) on Wednesday, delivering hefty gains for late-stage backers that entered the Pune-based company’s cap table less than two years ago. This includes growth equity firm A91 Partners, which is expected to see 3.7X returns on an investment made in 2024.
According to Sedemac’s red herring prospectus, A91 Partners invested nearly Rs 300 crore through primary and secondary transactions. The Mumbai-based investor, which currently owns around 18% stake in Sedemac, is offloading around 5% of the shares worth Rs 326 crore in the IPO, which is entirely an offer-for-sale. Its remaining stake in the company will be worth around Rs 760 crore.
Similarly, mid-market private equity firm Xponentia and 360 One Asset Management are likely to see substantial returns on their investments. Xponentia had invested around Rs 175 crore, and 360 One had put in around Rs 143 crore. While Xponentia is sitting on 3.8X paper gains, 360 One Asset Management will see about 3.5X returns.
These calculations are based on the upper end of Sedemac’s price band, which has been set at Rs 1,287-1,352 per share.
According to Sedemac’s red herring prospectus, A91 Partners invested nearly Rs 300 crore through primary and secondary transactions. The Mumbai-based investor, which currently owns around 18% stake in Sedemac, is offloading around 5% of the shares worth Rs 326 crore in the IPO, which is entirely an offer-for-sale. Its remaining stake in the company will be worth around Rs 760 crore.
Similarly, mid-market private equity firm Xponentia and 360 One Asset Management are likely to see substantial returns on their investments. Xponentia had invested around Rs 175 crore, and 360 One had put in around Rs 143 crore. While Xponentia is sitting on 3.8X paper gains, 360 One Asset Management will see about 3.5X returns.
These calculations are based on the upper end of Sedemac’s price band, which has been set at Rs 1,287-1,352 per share.
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