IdeaForge, Sedemac and more: With 2 more listings in pipeline, how IIT Bombay is churning out IPO multibaggers

The startup ecosystem nurtured by the Indian Institute of Technology (IIT) Bombay is yielding significant financial returns as its incubated companies head towards public listings. The Society for Innovation and Entrepreneurship (SINE), the institute's entrepreneurship wing, has already seen success with the IPO of ideaForge Technology, India's foremost drone manufacturer, which was launched in July 2023 and attracted overwhelming investor interest, being oversubscribed 106 times. This IPO allowed SINE to partially monetize its stake, realizing approximately Rs 1.52 crore from the offer for sale. Looking ahead, SINE is set to gain even more from the upcoming IPO of Sedemac Mechatronics, a manufacturer of electronic control units, founded in 2007 by an IIT Bombay associate professor. SINE holds 4.08 lakh shares in Sedemac, valued at around Rs 55 crore at the upper end of the IPO price band. The anticipated sale of 2.04 lakh shares is expected to yield about Rs 27.58 crore, representing a staggering return on investment of approximately 1.3 lakh times. As more startups like Atomberg Technologies and Gupshup contemplate IPOs, IIT Bombay's entrepreneurial initiatives are emerging as a robust engine for wealth creation and innovation in India’s tech landscape.