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Sahajanand Medical Technologies Limited IPO
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Latest GMP
- Lead Manager
- Motilal Oswal Investment Advisors Limited
- IPO Registrar
- MUFG Intime India Private Limited
- IPO Open Date
- 15th Oct 2026
- IPO Close Date
- 19th Oct 2026
- Allotment date
- 21st Oct 2026
- Listing date
- 23rd Oct 2026
- Issue Size
- ₹ 475 Cr.
- Issue Price Band
- ₹ 327 to 344
- Lot Size
- 43 Share
- Minimum Investment
- ₹ 14792
Disclaimer: IPO details, GMP, subscription figures, and other related information are for informational purposes only and may not always be accurate or up to date. Please verify the latest details from official sources before investing.
About Sahajanand Medical Technologies Limited
Founded in 2001 by Mr. Dhirajlal Kotadia, Sahajanand Medical Technologies Ltd. is a medical device company focused on Class III and Class C/D devices, primarily in the fields of vascular and structural heart intervention.
The company was the first globally to receive CE certification for a drug-eluting stent (DES) with a biodegradable polymer—Infinnium.
Product Portfolio
The product portfolio spans three key categories:
Vascular Intervention (VI)
Includes coronary stents and balloons for minimally invasive blood vessel treatments.
Structural Heart (SH)
Covers advanced technologies such as Transcatheter Aortic Valve Implantation (TAVI) and Occluders.
Other Products
Includes renal stents, peripheral Drug-Coated Balloons (DCBs), and selected trading products.
R&D and Intellectual Property
Sahajanand operates two R&D centers—one in India and one in Thailand—supported by a team of 102 professionals, including biomedical engineers and clinical research specialists.
The company has built a robust intellectual property base, with 102 patents granted globally and 71 pending patent applications, along with five design registrations in India.
Key Products & Clinical Backing
Key products such as Supraflex Cruz (DES), Hydra (TAVI), and Cocoon (Occluders) are backed by 72 clinical studies and are widely accepted in over 76 countries across Europe, Asia, and other regions.
Global Distribution Strategy
The global distribution strategy includes:
- Direct operations in key European markets (Germany, Spain, France, UK)
- Hybrid models in India (serving hospitals like Narayana Hrudayalaya Limited)
- Distributor-led entry in markets such as Italy
International market adoption is reinforced by endorsements from key opinion leaders (KOLs), successful government tenders, and partnerships with major Group Purchasing Organizations (GPOs) in Europe.
Brand Strategy
The company follows a “House of Brand” strategy, developing and commercializing clinically differentiated products under recognized brand names like Supraflex Cruz, Hydra, and Cocoon.
Workforce
As of March 31, 2025, Sahajanand Medical Technologies employed 1,458 full-time staff, 24 consultants, and 818 contract-based personnel across its operations.
IPO Subscription Details
| Category | Shares Offered | Shares Applied | Subscription Times (x) |
|---|---|---|---|
| QIB (Ex Anchor) | 27,14,423 (27.84%) | 9,41,79,804 | 34.70 |
| NII | 20,35,818 (20.88%) | 2,98,08,460 | 14.64 |
| bNII (> ₹10L) | 13,57,212 (13.92%) | 2,22,12,725 | 16.37 |
| sNII (< ₹10L) | 6,78,606 (6.96%) | 75,95,735 | 11.19 |
| Retail | 47,50,241 (48.72%) | 1,43,91,713 | 3.03 |
| Employee | 2,50,000 (2.56%) | 92,794 | 0.37 |
| Total | 97,50,482 (100.00%) | 13,84,72,771 | 14.20 |
Grey Market Premium (GMP)
| GMP Date | IPO Price | GMP | Estimated Listing Price | Estimated Profit* | Last Updated |
|---|---|---|---|---|---|
| 22-10-2026 | ₹344 | ₹18.5 | ₹362.5 ( 5.38% ) | ₹795.50 | 22-Oct-2026 10:22 AM |
| 21-10-2026 | ₹344 | ₹24 | ₹368 ( 6.98% ) | ₹1,032.00 | 21-Oct-2026 09:56 AM |
| 19-10-2026 | ₹344 | ₹25 | ₹369 ( 7.27% ) | ₹1,075.00 | 19-Oct-2026 09:59 AM |
| 17-10-2026 | ₹344 | ₹35 | ₹379 ( 10.17% ) | ₹1,505.00 | 17-Oct-2026 10:04 AM |
| 16-10-2026 | ₹344 | ₹43 | ₹387 ( 12.50% ) | ₹1,849.00 | 16-Oct-2026 10:10 AM |
| 15-10-2026 | ₹344 | ₹41 | ₹385 ( 11.92% ) | ₹1,763.00 | 15-Oct-2026 10:05 AM |
Financials of Sahajanand Medical Technologies Limited
A quick overview of the key Financial Performance of Sahajanand Medical Technologies Limited.
Total Assets (₹ Cr)
Revenue (₹ Cr)
Profit after Tax (₹ Cr)
*All values are in Rs. Cr
Company Financials
Revenue decreased by 71%, Profit after Tax (PAT) decreased by 78%, Total Assets increased by 3% between FY2026 and FY2027 (Jun).
| Period Ended | FY2024 | FY2025 | FY2026 | FY2027 (Jun) |
|---|---|---|---|---|
| Revenue | 901.60 | 1,024.88 | 1,210.50 | 351.67 |
| Assets | 970.58 | 1,094.90 | 1,276.43 | 1,309.00 |
| Total Income | 908.59 | 1,035.96 | 1,218.73 | 354.33 |
| Profit After Tax | -7.35 | 25.15 | 69.08 | 15.09 |
| EBITDA | 110.05 | 128.02 | 170.66 | 48.58 |
| Net Worth | 526.30 | 545.23 | 616.05 | 631.72 |
| Reserves & Surplus | 530.34 | 555.97 | 685.65 | 699.56 |
| Total Borrowings | 175.27 | 224.96 | 269.53 | 320.63 |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 43 | ₹ 14,792 |
| Retail (Max) | 13 | 559 | ₹ 1,92,296 |
| S-HNI (Min) | 14 | 602 | ₹ 2,07,088 |
| S-HNI (Max) | 67 | 2,881 | ₹ 9,91,064 |
| B-HNI (Min) | 68 | 2,924 | ₹ 10,05,856 |
Key Performance Indicators (KPI)
| KPI | Latest |
|---|---|
| ROE (%) | 2.07 |
| ROCE (%) | 3.16 |
| RoNW (%) | 2.31 |
| PAT Margin (%) | 4.29 |
| EBITDA Margin (%) | 13.81 |
|
Pre IPO
Post IPO
|
|
| EPS (₹) |
1.48
-
|
| P/E (x) |
-
-
|
| Promoter Holding (%) |
36.71
-
|
IPO Lead Manager(s)
Lead Manager Details
- Motilal Oswal Investment Advisors Limited
- Contact Person: Kunal Thakkar / Shashank Pisat
- SEBI Registration Number: INM000011005
- Investor Grievance Email: moiaplredressal@motilaloswal.com
- Website: https://www.motilaloswal.com
- Email: smt.ipo@motilaloswal.com
- Phone: +91 22 7193 4380
- Address: Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai 400 025, Maharashtra, India
Lead Manager Details
- Avendus Capital Private Limited
- Contact Person: Sarthak Sawa / Sneha Roy
- SEBI Registration Number: INM000011021
- Investor Grievance Email: investorgrievance@avendus.com
- Website: https://www.avendus.com
- Email: smt.ipo@avendus.com
- Phone: +91 22 6648 0050
- Address: Platina Building, 9th Floor 901, Plot No. C-59, Bandra Kurla Complex, Bandra (East), Mumbai 400 051, Maharashtra, India
Lead Manager Details
- HSBC Securities and Capital Markets (India) Private Limited
- Contact Person: Harsh Thakkar / Harshit Tayal
- SEBI Registration Number: INM000010353
- Investor Grievance Email: investorgrievance@hsbc.co.in
- Website: https://www.business.hsbc.co.in
- Email: smtipo@hsbc.co.in
- Phone: +91 22 6864 1289
- Address: 52/60, Mahatma Gandhi Road, Fort, Mumbai 400 001, Maharashtra, India
Lead Manager Details
- Nuvama Wealth Management Limited
- Contact Person: Pari Vaya
- SEBI Registration Number: INM000013004
- Investor Grievance Email: customerservice.mb@nuvama.com
- Website: https://www.nuvama.com
- Email: smtipo@nuvama.com
- Phone: +91 22 4009 4400
- Address: 801-804 Wing A, Building No 3, Inspire BKC, G Block, Bandra Kurla Complex, Bandra East, Mumbai 400 051, Maharashtra, India
IPO Registrar
- Registrar Name
- MUFG Intime India Private Limited
- Phone
- +91 81081 14949
- Contact Person
- Shanti Gopalkrishnan
- SEBI Registration Number
- INR000004058
- Address
- C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai 400 083, Maharashtra, India
- Website
- https://in.mpms.mufg.com/
Company Contact Details
- Company Name
- Sahajanand Medical Technologies Limited
- Phone
- 022 49564000
- Contact Person
- Deepshikha Singhal
- Corporate Identity Number
- U33119GJ2001PLC040121
- Address
- Sahajanand Estate, Wakharia Wadi, NR. Dabholi Char Rasta, Nani Ved, Ved Road, Surat, Gujarat - 395004, India
- Website
- https://www.smtpl.com/
Sahajanand Medical Technologies Limited FAQs
