Five Entities Sell Over 11% Stake in Sedemac Mechatronics for Rs 1,469 Cr

New Delhi: Five entities, including Nandan Nilekani’s NRJN Family Trust, divested a little over 11 per cent stake in Sedemac Mechatronics for a total of Rs 1,469 crore through separate block deals on Thursday.

Sedemac Mechatronics is a powertrain controls and auto parts manufacturer.

These entities sold a total of 48,79,838 shares, representing a combined 11.05 per cent stake in Pune-based Sedemac Mechatronics, according to the National Stock Exchange (NSE) data.

NRJN Family Trust, Mace Pvt Ltd, A91 Emerging Fund II LLP, and Mumbai-based Xponentia Capital Partners together offloaded 44.74 lakh shares of Sedemac.

A91 Emerging Fund II LLP is a SEBI-registered alternative investment fund of Mumbai-based A91 Partners. The latter was founded by former Sequoia Capital executives Abhay Pandey, VT Bharadwaj, and Gautam Mago.

In addition, HDFC Life Insurance Company Ltd sold more than 4.04 lakh shares of the company.

These entities disposed of the shares at an average price of Rs 3,010 apiece, bringing the combined deal value to Rs 1,468.83 crore.

Meanwhile, a clutch of domestic and foreign institutional investors purchased an equal number of Sedemac Mechatronics’ shares at the same price, as per the data.

Mutual Funds managed by SBI, Invesco, Franklin Templeton, Axis, Aditya Birla Sun Life and ICICI Prudential picked up shares.

Additionally, HDFC Life Insurance acquired nearly 4.02 lakh shares of the firm.

The Singapore Government, Monetary Authority of Singapore, Amansa Holdings, Societe Generale, the UK-based M&G Investments and Investment management company T. Rowe Price Group were the foreign investors that also bought shares.

Shares of Sedemac Mechatronics surged nearly 10 per cent to end at Rs 3,328 apiece on the NSE.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)