And the professor didn’t come alone. The students who walked out of his lab to help build the company are cashing out too, handsomely.
Manish Sharma, now Sedemac’s Whole Time Director and Chief Operating Officer, is selling 45,000 shares he bought at Rs 46 apiece. At the upper band of the IPO price of Rs 1,352 per share, that stake is worth over Rs 6 crore, a profit of Rs 5.88 crore and a staggering 29x return. Sharma, an IIT-Bombay master’s graduate in mechanical engineering who previously worked at Eaton India Engineering Center, is one of the selling shareholders in the offer. His stake in the company will fall from 1.95% to 1.85% after the IPO.
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Ashwini Amit Dixit, wife of co-founder and Joint Managing Director Amit Arun Dixit, is also cashing out by selling 67,500 shares bought at Rs 100 per share. Her investment of Rs 67.5 lakh is now worth Rs 9.12 crore, a profit of Rs 8.45 crore and a 13.5x return, or 1,252%.
Ashwini’s stake will fall from 1.22% to 1.07% in the IPO.
Amit Arun Dixit, who holds a PhD from IIT-Bombay is another founding shareholder and promoter. He retains a 2.81% equity stake in the company post-IPO.The Rs 1,087 crore IPO, priced at Rs 1,287–1,352 per share, is entirely an offer for sale of 80.43 lakh shares, meaning Sedemac itself receives no proceeds. The anchor book opens March 2, the public issue runs March 4–6, and allotment is expected by March 9.
Backed by A91 Partners, Catamaran Ventures and Xponentia Capital, Sedemac has grown into one of India’s leading manufacturers of genset controllers and electronic control units — critical components used in two-wheelers, three-wheelers, electric vehicles, e-bikes and industrial gensets. Its ECUs are supplied to major OEMs in India as well as markets in the United States and Europe.
The company’s name, an acronym for “Separating Decision Making from Actuation”, reflects its roots in mechatronics, the discipline that marries electronics and mechanical engineering. That academic DNA, incubated in a Bombay campus lab, is now very much a commercial reality.
The financials back the story up. Revenue from operations climbed from Rs 423 crore in FY23 to Rs 531 crore in FY24 and Rs 658 crore in FY25. Profits, however, tell a more turbulent tale — Rs 8.57 crore in FY23 dipped to Rs 5.88 crore in FY24 before surging to Rs 47.05 crore in FY25. For the first quarter of FY26, the company reported revenue of Rs 217 crore and profit of Rs 17 crore.
Suryanarayanan, who holds a BTech from IIT-Madras and a PhD from the University of California, Berkeley, is currently on leave from IIT-Bombay and serves as Sedemac’s Managing Director. Post-IPO, his 16.16% holding will be worth approximately Rs 967 crore at the upper end of the price band, a return that no classroom lecture could have fully prepared him for.