Sahajanand Medical Technologies to Launch 1.38 Cr-Share IPO on Oct 15

According to the offer details, the IPO is valued at approximately INR 475.48 Cr, with a price band of INR 327- INR 344 per share.

Sahajanand Medical Technologies, a Mumbai-headquartered medical device manufacturer backed by Samara Capital and Morgan Stanley, has scheduled its maiden IPO to open for subscription on October 15.

The 1.38 Cr-share IPO will comprise an offer for sale (OFS), allowing existing shareholders to sell their holdings without raising fresh capital for the company.

Founded in 2001, Sahajanand Medical Technologies develops and manufactures medical devices for vascular and structural heart interventions. Its portfolio includes coronary stents, coronary balloons, transcatheter aortic valve implantation (TAVI) systems and occluders, used in procedures to treat cardiovascular conditions. The company also markets renal stents and peripheral drug-coated balloons.

The company’s IPO is an entirely secondary share sale, meaning the proceeds will go to the shareholders selling their equity rather than to Sahajanand Medical Technologies.

Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund and NHPEA Sparkle Holding BV, an affiliate of Morgan Stanley, are among the selling shareholders, alongside the promoters.

Samara Capital Markets Holding holds a 29.61% stake, followed by NHPEA Sparkle Holding BV at 15.24% and Kotak Pre-IPO Opportunities Fund at 5.98%. Investor Ashish Kacholia holds a 1.08% stake.

According to the offer details, the IPO is valued at approximately INR 475.48 Cr, with a price band of INR 327- INR 344 per share.

Investors can bid for a minimum of 43 shares and in multiples of 43 thereafter. The company has also reserved 2.5 lakh shares for employees.

Of the shares offered, 50% have been allocated to qualified institutional buyers, 15% to non-institutional investors and 35% to retail investors. The anchor book for institutional investors is scheduled to open on October 14, ahead of the public issue closing on October 19.

Share allotment is expected to be finalised by October 21, with listing on the BSE and NSE scheduled for October 23.

Sahajanand Medical Technologies reported revenue of INR 1,210.5 Cr for the financial year ended March 2026, up 18.1% from INR 1,024.9 Cr a year earlier. Net profit increased 174.65% to INR 69.1 Cr from INR 25.15 Cr in FY25.

For the quarter ended June 2026, the company recorded revenue of INR 351.6 Cr and a profit of INR 15.1 Cr.

Its products were marketed in 65 countries as of the quarter ended June 2026, reflecting its presence in domestic and international medical device markets.

Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities and Capital Markets (India), and Nuvama Wealth Management have been appointed as merchant bankers for the Sahajanand Medical Technologies IPO.

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