Strong demand for Sahajanand Medical Technologies Limited’s IPO

POSTED BY : MRUNALI SAKPAL DT.  15/10/2026 📞  8850212023

MUMBAI : RMI.IN : The Initial Public Offering of Sahajanand Medical Technologies Limited was subscribed xxx times on the second day of bidding, demonstrating strong demand from retail and Qualified Institutional Buyers (QIB) for this IPO.

The issue received bids of 80,36,270 equity shares against the offered 97,50,482 equity shares, according to data available on the stock exchanges.

Retail Portion and Non-institutional portion were subscribed, 0.83 times and 0.51 times, respectively. Qualified Institutional Buyers (QIB) was subscribed 1.12 times.

The issue kicked off for subscription on Thursday, October 15, 2026, and will close for subscription on Monday, October 19, 2026.

A day before the opening of the issue, Sahajanand Medical Technologies Limited had raised nearly Rs 140 crore from anchor investors.

Brokerage houses recommend company

Leading brokerage firms like Anand Rathi, Antique Stock Broking, BP Wealth, GEPL Capital and Ventura Securities have given their “Subscribe” recommendation to Sahajanand Medical Technologies Limited, which is a Class III and Class C/D medical devices company with a portfolio of technologically advanced medical devices across vascular and structural heart intervention.

BP Wealth highlights the company received CE certification in 2020 for its in-house developed biodegradable polymer-based sirolimus-eluting stent, Supraflex Cruz, strengthening its product portfolio in coronary Intervention.

On the valuation front, at the upper price band, the IPO is at a P/E of 53.1 times FY26 earnings, and its specialized product portfolio, established international presence and improving financial performance offer a credible long-term growth opportunity. Recommend “Subscribe”.

GEPL Capital highlights the company’s product portfolio includes coronary stents, coronary balloons, transcatheter aortic valve implantation (TAVI) devices, occluders, renal stents and peripheral drug-coated balloons (DCBs), marketed under flagship brands such as Supraflex Cruz, Cocoon and Hydra.

On the valuation front, at the upper price band, the issue is priced at a P/E of 58 times. The company has reported healthy financial performance, integrated capabilities, healthy market share in DES in India, and growing in international markets. Recommend “Subscribe”.

IPO Details

Sahajanand Medical Technologies Limited has fixed the price band of Rs 327 to Rs 344 per Equity Share of face value Rs. 1/- each for its maiden initial public offer.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Thursday, October 15, 2026, for subscription and close on Monday, October 19, 2026.

The IPO comprises an offer-for-sale for up to 13,822,116 equity shares by promoters – Shree Hari Trust and Dhirajkumar Savjibhai Vasoya.

Investors selling shares – Samara Capital Markets Holding Limited, Kotak Pre-IPO Opportunities Fund and NHPEA Sparkle Holding B.V.

Investors can bid for a minimum of 43 Equity Shares and in multiples of 43 Equity Shares thereafter.

The Offer is being made through the book-building process, in compliance with SEBI ICDR Regulations, wherein not more than 50% of the net offer will be available for allocation to qualified institutional buyers (QIBs), not less than 15% to non-institutional bidders (NIIs), and not less than 35% to retail individual bidders (RIIs).

Company Information

Incorporated in 1999, the company is a Class III and Class C/D medical devices company with a portfolio of technologically advanced medical devices across vascular and structural heart intervention. According to a F&S Report, the company is the first in the world to receive a CE certification for a DES with a biodegradable polymer- based paclitaxel-eluting stent (Infinnium). Over the years, the company has introduced several innovative products, driven by its focus on research and development and precision manufacturing capabilities enabling it to deliver quality products backed by clinical data, with a presence across 65 countries including India in the three months ended June 30, 2026 and 77 countries including India in Fiscal 2026.

It is a R&D-driven company engaged in the development of Class III and Class C/D medical devices, with an emphasis on vascular intervention (VI) and structural heart (SH). Its portfolio of VI products includes coronary intervention products such as coronary stents and coronary balloons, SH products include TAVI and occluders, and others including its own brand of renal stents, peripheral DCBs and other trading products.