Original equipment manufacturer (OEM)-focused electronics supplier Sedemac Mechatronics is likely to see a block deal, with investors including A91 Emerging Fund, Xponentia Opportunities Fund and HDFC Life Insurance, among others, looking to offload up to 44.3 lakh shares, according to reports.
The proposed transaction represents around 10% of the company's equity and could help investors get approximately Rs 1,329 crore. The reported floor price for the block deal has been set at Rs 3,000 per share, which could represent a discount of up to 1.2% to Sedemac Mechatronics' prevailing market price. The shares are also expected to be subject to a 60-day lock-in on further sale.
