Sahajanand Medical Technologies IPO
Sahajanand Medical Technologies IPO is a book-building public issue of approximately ₹475.48 crore.
The IPO consists entirely of an Offer for Sale (OFS) of 1,38,22,116 equity shares. Since the issue is completely an OFS, Sahajanand Medical Technologies Ltd. will not receive any proceeds from the IPO. The proceeds will go to the selling shareholders.
The IPO opens for subscription on 15 October 2026 and closes on 19 October 2026. The shares are proposed to be listed on both NSE and BSE, with a tentative listing date of 23 October 2026.
Sahajanand Medical Technologies IPO Details
Sahajanand Medical Technologies Ltd. is coming to the primary market with a book-built IPO of approximately ₹475.48 crore. The issue comprises entirely an Offer for Sale of 1,38,22,116 equity shares.
The IPO price band has been fixed at ₹327 to ₹344 per share. The face value of each equity share is ₹1. Investors can bid for a minimum of 43 shares and thereafter in multiples of the specified lot size.
At the upper price band of ₹344 per share, a retail investor requires ₹14,792 to apply for one lot of 43 shares.
The company is proposed to be listed on NSE and BSE. The tentative allotment date is 21 October 2026, while the tentative listing date is 23 October 2026.
Sahajanand Medical Technologies IPO Details
| Particulars | Details |
|---|---|
| Company Name | Sahajanand Medical Technologies Ltd. |
| IPO Open Date | 15 October 2026 |
| IPO Close Date | 19 October 2026 |
| IPO Size | ₹475.48 Crore |
| Price Band | ₹327 to ₹344 per share |
| Face Value | ₹1 per share |
| Lot Size | 43 Shares |
| Issue Type | Book Building |
| Issue Structure | Offer for Sale (OFS) |
| Fresh Issue | Nil |
| Listing Exchange | NSE and BSE |
| Total Shares Offered | 1,38,22,116 Shares |
| Retail Investment | ₹14,792 at Upper Price Band |
| Expected Allotment | 21 October 2026* |
| Refund / Unblocking | 22 October 2026* |
| Demat Credit | 22 October 2026* |
| Tentative Listing Date | 23 October 2026* |
| Market Cap at Upper Price | ₹3,496.65 Crore |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Lead Manager | Motilal Oswal Investment Advisors Ltd. and other lead managers |
Sahajanand Medical Technologies IPO Issue Size
| Issue Component | Shares | Approx. Amount |
|---|---|---|
| Total Issue | 1,38,22,116 | ₹475.48 Cr |
| Offer for Sale | 1,38,22,116 | ₹475.48 Cr |
| Fresh Issue | Nil | Nil |
The entire issue is an Offer for Sale. Therefore, Sahajanand Medical Technologies Ltd. will not receive any fresh capital from the IPO.
Sahajanand Medical Technologies IPO Timeline
| Event | Date |
|---|---|
| IPO Opens | Thursday, 15 October 2026 |
| IPO Closes | Monday, 19 October 2026 |
| Allotment | Wednesday, 21 October 2026* |
| Refund / Unblocking | Thursday, 22 October 2026* |
| Shares Credited to Demat | Thursday, 22 October 2026* |
| Listing | Friday, 23 October 2026* |
Sahajanand Medical Technologies IPO Issue Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not more than 50% of the Net Offer |
| Retail Individual Investors (RII) | Not less than 35% of the Net Offer |
| Non-Institutional Investors (NII) | Not less than 15% of the Net Offer |
Sahajanand Medical Technologies IPO Investor Category
| Category | Investment Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹5 Lakhs | Yes |
| Employee + RII/NII | Employee limit plus applicable RII/NII limits | As applicable |
Sahajanand Medical Technologies IPO Lot Size
Investors can bid for a minimum of 43 shares and thereafter in multiples of 43 shares. The investment amounts below are calculated using the upper price band of ₹344 per share.
| Investor Category | Lots | Shares | Investment at ₹344 |
|---|---|---|---|
| Retail Minimum | 1 | 43 | ₹14,792 |
| Retail Maximum | 13 | 559 | ₹1,92,296 |
| S-HNI Minimum | 14 | 602 | ₹2,07,088 |
| S-HNI Maximum | 67 | 2,881 | ₹9,91,064 |
| B-HNI Minimum | 68 | 2,924 | ₹10,05,856 |
About Sahajanand Medical Technologies Ltd.
Sahajanand Medical Technologies Ltd. was incorporated in October 2001. It is a medical technology company engaged in the development, manufacturing and marketing of technologically advanced medical devices, primarily focused on vascular intervention and structural heart intervention.
Its product portfolio includes coronary stents, coronary balloons, transcatheter aortic valve implantation (TAVI) devices, occluders, renal stents and peripheral drug-coated balloons (DCBs). The company focuses on research and development, precision manufacturing and clinically supported product innovation.
The company’s flagship brands include Supraflex Cruz, Cocoon and Hydra, which serve different areas of interventional cardiology.
Sahajanand Medical Technologies operates three manufacturing facilities, including two in India and one in Thailand. Its manufacturing operations are supported by two R&D centres in India and Thailand.
As of 30 June 2026, the company had 119 patents granted globally, 78 patent applications in the pipeline and five design registrations in India.
The company’s products were marketed in 77 countries during Fiscal 2026, through direct, hybrid and distributor-led sales models. It has an established market presence in India, Europe and other international markets.
The company reported revenue from operations of ₹12,105.04 million in FY2026, compared with ₹10,248.79 million in FY2025 and ₹9,016.04 million in FY2024.
As of 30 June 2026, the company had 1,605 full-time employees, 31 consultants and 707 contract-based employees.
Sahajanand Medical Technologies Products and Business Areas
| Product / Business Area | Description |
|---|---|
| Coronary Stents | Medical devices used in coronary intervention procedures. |
| Coronary Balloons | Balloon catheter products used in interventional cardiology. |
| TAVI Devices | Devices for transcatheter aortic valve implantation procedures. |
| Occluders | Devices used in selected structural heart interventions. |
| Renal Stents | Stent products designed for renal vascular intervention. |
| Peripheral Drug-Coated Balloons | Drug-coated balloon products for peripheral vascular intervention. |
Sahajanand Medical Technologies Business Strengths
- Extensive global sales and marketing network.
- Strong research and development capabilities.
- Diversified and integrated manufacturing facilities in India and Thailand.
- Established presence in India and key international markets.
- Experience in mergers, acquisitions and strategic collaborations.
- Technologically advanced medical devices in high-barrier segments.
- Experienced leadership team backed by institutional investors.
- Products marketed in 77 countries during Fiscal 2026.
- A patent portfolio supporting product development and innovation.
Sahajanand Medical Technologies IPO Objects of the Issue
The Sahajanand Medical Technologies IPO is entirely an Offer for Sale. Unlike a fresh issue, the company will not receive funds raised through the IPO.
100% OFS: The entire issue of 1,38,22,116 shares, valued at approximately ₹475.48 crore at the offer price, consists of shares sold by existing shareholders.
The proceeds will go to the selling shareholders. The IPO does not provide fresh capital directly to Sahajanand Medical Technologies Ltd.
Sahajanand Medical Technologies Financial Performance
Sahajanand Medical Technologies reported revenue from operations of ₹12,105.04 million in FY2026, compared with ₹10,248.79 million in FY2025 and ₹9,016.04 million in FY2024.
According to the supplied financial information, revenue from operations increased by approximately 18% between FY2025 and FY2026. Profit after tax increased from ₹25.15 crore in FY2025 to ₹69.08 crore in FY2026.
| Particulars (₹ Crore) | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Total Assets | 1,309.00 | 1,276.43 | 1,094.90 | 970.58 |
| Total Income | 354.33 | 1,218.73 | 1,035.96 | 908.59 |
| Profit After Tax | 15.09 | 69.08 | 25.15 | -7.35 |
| EBITDA | 48.58 | 170.66 | 128.02 | 110.05 |
| Net Worth | 631.72 | 616.05 | 545.23 | 526.30 |
| Reserves and Surplus | 706.86 | 692.48 | 580.71 | 556.57 |
| Total Borrowing | 320.63 | 269.53 | 224.96 | 175.27 |
Note: Financial figures are presented in ₹ crore and reproduce the figures supplied for this IPO post. The June 2026 figures represent the period ended 30 June 2026, while the March figures represent the respective financial years.
Sahajanand Medical Technologies Revenue from Operations
| Financial Year | Revenue from Operations (₹ Million) | Revenue from Operations (₹ Crore) |
|---|---|---|
| FY2024 | 9,016.04 | 901.60 |
| FY2025 | 10,248.79 | 1,024.88 |
| FY2026 | 12,105.04 | 1,210.50 |
Sahajanand Medical Technologies IPO Key Performance Indicators
| KPI | 30 Jun 2026 | 31 Mar 2026 |
|---|---|---|
| ROE | 2.07% | 10.35% |
| ROCE | 3.16% | 11.57% |
| Debt/Equity | 0.33 | 0.27 |
| RoNW | 2.31% | 10.60% |
| PAT Margin | 4.29% | 5.71% |
| EBITDA Margin | 13.81% | 14.10% |
| NAV | ₹64.35 | ₹62.76 |
| P/B | Not provided | 5.48x |
Note: KPI figures are reproduced from the supplied IPO information. Investors should refer to the RHP for the definitions, calculation basis and relevant financial periods.
Sahajanand Medical Technologies IPO Valuation
At the upper price band of ₹344 per share, Sahajanand Medical Technologies has a stated market capitalization of approximately ₹3,496.65 crore.
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | ₹6.80 | ₹5.94 |
| P/E Ratio | 50.59x | 57.91x |
| Market Cap at Offer Price | ₹3,496.65 Cr | ₹3,496.65 Cr |
The stated pre-IPO and post-IPO P/E ratios are based on the valuation figures supplied for this post. Investors should assess these metrics alongside the company’s growth, profitability, debt and disclosed risk factors.
Sahajanand Medical Technologies Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 40.82% | 36.20% |
| Public | 59.18% | 63.80% |
| Total | 100% | 100% |
Company Promoters: Bhargav Dhirajlal Kotadia, Dhirajlal Vallabhbhai Kotadia, Priyanka Dhirajlal Cohen and Shree Hari Trust.
Shareholding note: The percentages above reproduce the supplied figures. As the issue is described as a 100% OFS, verify the final post-issue shareholding percentages against the RHP before publication.
Sahajanand Medical Technologies IPO Offer for Sale – Selling Shareholders
| Name | Category | Shares Offered | Amount (₹ Cr) |
|---|---|---|---|
| Shree Hari Trust | Promoter | 27,00,000 | ₹92.88 |
| Dhirajkumar Savjibhai Vasoya | Promoter | 20,00,000 | ₹68.80 |
| Samara Capital Markets Holding Ltd. | Corporate | 64,79,063 | ₹222.88 |
| Kotak Pre-IPO Opportunities Fund | Corporate | 13,07,875 | ₹44.99 |
| NHPEA Sparkle Holding BV | Corporate | 13,35,178 | ₹45.93 |
| Total | – | 1,38,22,116 | ₹475.48 |
Sahajanand Medical Technologies IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 1 | 0 |
| Members | 0 | 0 | 0 | 0 |
The supplied recommendation summary records one broker review as Neutral, with no Subscribe, May Apply or Avoid recommendations recorded. This summary is not a guarantee of IPO performance or a substitute for independent investment research.
Recently Listed IPOs in the Hospital Sector
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss | LTP |
|---|---|---|---|---|---|---|---|
| Rays of Belief Ltd. | Mainboard | ₹125.00 Cr | ₹239 | 75.63 | ₹228.34 | -4.46% | ₹210.33 |
| Manipal Health Enterprises Ltd. | Mainboard | ₹9,275.22 Cr | ₹590 | 75.93 | ₹666.95 | +13.04% | ₹679.05 |
| Gujarat Kidney & Super Speciality Ltd. | Mainboard | ₹250.80 Cr | ₹114 | 61.62 | ₹104.54 | -8.30% | ₹182.56 |
Note: The peer-company data above is reproduced from the information supplied. The companies may differ in business model, size, profitability and valuation, so the figures should not be treated as a direct valuation comparison without further analysis.
Sahajanand Medical Technologies IPO Pros and Cons
Potential Positives
- Established medical technology business with a history dating back to 2001.
- Broad product portfolio across vascular and structural heart intervention.
- Research and development capabilities supported by two R&D centres.
- Manufacturing facilities in India and Thailand.
- Products marketed in 77 countries during FY2026.
- A portfolio of 119 granted patents globally as of 30 June 2026.
- Revenue from operations increased from ₹10,248.79 million in FY2025 to ₹12,105.04 million in FY2026.
- The company operates in specialised medical-device segments requiring technological capabilities.
Key Risks / Considerations
- The IPO is entirely an OFS, so the company will not receive any proceeds from the issue.
- The supplied ROE, ROCE and RoNW figures for June 2026 are lower than the figures reported for March 2026.
- Total borrowings increased from ₹224.96 crore in March 2025 to ₹269.53 crore in March 2026, according to the supplied figures.
- The stated post-IPO P/E ratio is 57.91x.
- Medical-device businesses face product development, regulatory, quality and market-adoption risks.
- International operations may expose the business to competition, foreign-market regulations and currency movements.
- Future revenue and profitability may differ from historical financial performance.
- Investors should carefully review the company’s RHP and disclosed risk factors before applying.
Sahajanand Medical Technologies IPO Registrar & Lead Managers
IPO Registrar: MUFG Intime India Pvt. Ltd.
IPO Lead Managers:
- Motilal Oswal Investment Advisors Ltd.
- Avendus Capital Pvt. Ltd.
- HSBC Securities & Capital Markets (India) Pvt. Ltd.
- Nuvama Wealth Management Ltd.
Sahajanand Medical Technologies IPO Important Information
| Particulars | Details |
|---|---|
| Company | Sahajanand Medical Technologies Ltd. |
| IPO Type | Book Building Issue |
| IPO Size | ₹475.48 Crore |
| Price Band | ₹327 – ₹344 |
| Face Value | ₹1 per share |
| Lot Size | 43 Shares |
| Minimum Investment | ₹14,792 |
| Fresh Issue | Nil |
| Offer for Sale | 1,38,22,116 Shares |
| Issue Structure | 100% OFS |
| Listing | NSE and BSE |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Lead Managers | Motilal Oswal Investment Advisors Ltd.; Avendus Capital Pvt. Ltd.; HSBC Securities & Capital Markets (India) Pvt. Ltd.; Nuvama Wealth Management Ltd. |
| Market Cap at Upper Price | ₹3,496.65 Crore |
| IPO GMP | Awaiting Update |
Sahajanand Medical Technologies IPO Registrar Contact Details
| Particulars | Details |
|---|---|
| Registrar | MUFG Intime India Pvt. Ltd. |
| Phone | 022-49186000 |
| sahajanandmedical.ipo@in.mpms.mufg.com | |
| IPO Allotment Portal | MUFG Intime India IPO Portal |
Sahajanand Medical Technologies Ltd. Contact Details
Address:
Sahajanand Estate, Wakharia Wadi,
Near Dabholi Char Rasta,
Nani Ved, Ved Road,
Surat, Gujarat – 395004
Phone: 022 49564000
Email: investors.grievance@smt.in
Sahajanand Medical Technologies IPO Quick Summary
Sahajanand Medical Technologies IPO is a book-building public issue of approximately ₹475.48 crore. The IPO opens on 15 October 2026 and closes on 19 October 2026.
The price band has been fixed at ₹327 to ₹344 per share, with a minimum lot size of 43 shares. At the upper price band, one retail lot requires an investment of ₹14,792.
The issue consists entirely of an Offer for Sale of 1,38,22,116 shares. Sahajanand Medical Technologies Ltd. will not receive any proceeds from the IPO because there is no fresh issue.
The company develops and manufactures medical devices for vascular and structural heart intervention. Its product portfolio includes coronary stents, balloons, TAVI devices, occluders, renal stents and peripheral drug-coated balloons.
The company operates three manufacturing facilities and two R&D centres in India and Thailand. Its products were marketed in 77 countries during FY2026.
Revenue from operations increased from ₹10,248.79 million in FY2025 to ₹12,105.04 million in FY2026.
The tentative allotment date is 21 October 2026, and the tentative listing date is 23 October 2026, subject to the final IPO schedule.
IPO GMP: Awaiting Update. No confirmed GMP figure was provided in the available information.
Sahajanand Medical Technologies IPO FAQs
Sahajanand Medical Technologies IPO Official Documents
Investors should refer to the company’s Red Herring Prospectus (RHP) for detailed information about the IPO, business operations, financial statements, promoters, selling shareholders, valuation and risk factors.
The RHP link was not included in the supplied information. Use the official offer document published by the company or the IPO’s authorised lead managers to review the complete disclosures.
Disclaimer
This Sahajanand Medical Technologies IPO information is provided solely for educational and informational purposes. IPO investments are subject to market risks, and actual listing performance may differ from expectations. Investors should carefully review the company’s RHP, financial statements, risk factors and other official disclosures before making any investment decision. TradingMinds does not provide investment advice or guarantee IPO listing gains.
Important financial-data note: The information in this post is based on the details supplied for preparation. Investors and publishers should verify the financial figures, valuation metrics, shareholding percentages, issue terms and timetable against the final offer documents before relying on them.
*Note: IPO allotment, refund, demat credit and listing dates are tentative and may change according to the final IPO schedule, regulatory requirements and applicable exchange processes.
