Sahajanand Medical Technologies to Launch IPO of 1.38 Crore Shares on October 15
The Mumbai-based medical device manufacturer will open its initial public offering for subscription next week, focusing on equity shares.
Sahajanand Medical Technologies' IPO consists of 1.38 crore equity shares, entirely through an offer for sale.
The company reported a profit of Rs 15.1 crore in the quarter ending June 2026, with significant revenue growth.
The IPO subscription period runs from October 15 to October 19, with shares expected to debut on October 23.
Sahajanand Medical Technologies (SMT), a cardiovascular medical device manufacturer based in Mumbai, is set to launch its first initial public offering (IPO) on October 15. The offering will include 1.38 crore equity shares, all of which will be made available through an offer for sale (OFS) without any new issue component. The company has allocated 2.5 lakh shares specifically for its employees.
The IPO proceeds will benefit the selling shareholders, as the company will not receive any funds from this public offering. The primary goal of this IPO is to facilitate the OFS and allow the company to gain the advantages of being listed on the stock exchanges. Major stakeholders in the OFS include Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund, and NHPEA Sparkle Holding BV, along with the company's promoters.
Sahajanand Medical Technologies was founded in 2001 by Dhirajlal Kotadia and specializes in developing Class III and Class C/D medical devices. The company focuses on vascular intervention products, such as coronary stents and balloons, and structural heart devices, including transcatheter aortic valve implantation (TAVI) systems. These segments accounted for approximately 60% and 16% of the company's revenue, respectively. As of June 2026, the company marketed its products in 65 countries, including India and various European nations.
The share distribution for the IPO includes 50% reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors. The anchor book for institutional investors will open on October 14, and the public subscription will close on October 19. The company plans to finalize share allotments by October 21, with shares expected to start trading on October 23.
Sahajanand Medical Technologies has demonstrated strong financial performance, reporting a profit of Rs 15.1 crore on revenues of Rs 351.6 crore for the quarter ending June 2026. For the financial year ending March 2026, the company saw a remarkable 174.65% increase in profit, rising to Rs 69.1 crore from Rs 25.15 crore in the previous year, while revenue grew by 18.1% to Rs 1,210.5 crore. Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities and Capital Markets (India), and Nuvama Wealth Management are the appointed merchant bankers managing this IPO.
