India, March 7 -- Nearly two decades ago, a small group of engineers at the Indian Institute of Technology Bombay began experimenting with advanced automotive control systems inside campus laboratories. What started as a research idea developed by a handful of students and a professor is now poised to deliver a windfall of nearly Rs.55 crore to the institute's startup incubator- as the company prepares to enter the public market.

The company, Sedemac Mechatronics, is set to launch an initial public offering (IPO), marking a major milestone not just for the Pune-based deep-tech firm but also for IIT Bombay's startup ecosystem.

The institute's incubator, the Society for Innovation and Entrepreneurship (SINE), currently holds about 4.08 la...