NewsSep 25, 2026, 04:49 UTC

Investors sell $150M Sedemac stake as Nilekani trust, A91 exit

What's the deal? Five shareholders, including Nandan Nilekani's NRJN Family Trust, sold a combined 11.05% stake in Pune-based SEDEMAC Mechatronics for US$199.5M (roughly $150 million) through block deals on Thursday. The sellers offloaded 4,879,838 shares at an average price of US$40.9 each. SEDEMAC makes powertrain controls and auto parts.

Who sold? Alongside NRJN Family Trust, the exiting shareholders included Mace Pvt Ltd, A91 Emerging Fund II LLP, and Mumbai-based Xponentia Capital Partners. HDFC Life Insurance sold more than 404,000 shares. A91 Emerging Fund is an alternative investment fund of A91 Partners, founded by former Sequoia Capital executives Abhay Pandey, VT Bharadwaj, and Gautam Mago.

Who bought? Domestic and foreign institutions picked up the same number of shares at the same price. Mutual funds managed by SBI, Invesco, Franklin Templeton, Axis, Aditya Birla Sun Life, and ICICI Prudential were among buyers, as was HDFC Life, which acquired nearly 402,000 shares.

Why now? Foreign buyers included the government of Singapore, the Monetary Authority of Singapore, Amansa Holdings, Societe Generale, UK-based M&G Investments, and T. Rowe Price Group. The post-IPO secondary lets early backers cash out while institutions build positions.

The signal: Shares of SEDEMAC rose nearly 10% to close at US$45.2 on the National Stock Exchange despite the large sell-off, a sign of steady institutional appetite. At roughly $150 million, the transaction ranks in the upper tier of comparable deals by size.