Sahajanand Medical Technologies (SMT), a prominent Gujarat-based manufacturer of cardiovascular medical devices, is set to launch its Initial Public Offering (IPO) on October 15, 2026. The company has fixed the price band for its shares between Rs 327 and Rs 344 per equity share.
IPO Details and Schedule
The public issue, which consists of 1.38 crore equity shares, is entirely an Offer For Sale (OFS) by existing shareholders. This means the company itself will not receive any proceeds from the share sale; all funds will go to the selling shareholders. SMT aims to raise Rs 475.5 crore through this offering, targeting a market capitalization of approximately Rs 3,500 crore.
The subscription window for the IPO will open on October 15, 2026, and close on October 19, 2026. Institutional investors will have access to a one-day anchor book on October 14. The finalization of share allotment is anticipated on October 21, with the company’s shares expected to list on the stock exchanges by October 23, 2026.
Shareholder Participation and Allocation
Promoters, along with key investors such as Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund, and NHPEA Sparkle Holding BV, are participating in the Offer For Sale. A total of 2.5 lakh shares have been reserved for employees.
The net offer, excluding employee reservations, has been strategically allocated:
- Qualified Institutional Buyers (QIBs): 50%
- Non-Institutional Investors: 15%
- Retail Investors: 35%
Retail investors can bid for a minimum of 43 equity shares, and in multiples of 43 shares thereafter. This translates to a minimum investment of Rs 14,792 and a maximum of Rs 1,92,296 for retail participants.
About Sahajanand Medical Technologies
Backed by significant investors including Samara Capital, Morgan Stanley, Kotak Investment Advisors, and Ashish Kacholia, SMT specializes in developing Class III and Class C/D medical devices. Their product portfolio primarily focuses on vascular intervention, featuring critical devices like coronary stents and balloons. Additionally, SMT manufactures structural heart devices, including transcatheter aortic valve implantation (TAVI) systems and occluders.
Financial Performance
Sahajanand Medical Technologies has demonstrated robust financial growth in recent years. For the financial year ending March 2026, the company reported a substantial 174.65% increase in profit, reaching Rs 69.1 crore, up from Rs 25.15 crore in the previous fiscal year. Revenue also saw an impressive rise of 18.1%, climbing to Rs 1,210.5 crore from Rs 1,024.9 crore.
In the first quarter of FY27 (April-June 2026), SMT continued its positive trajectory, posting a profit of Rs 15.1 crore on revenues totaling Rs 351.6 crore.
The IPO is being managed by a consortium of book-running lead managers, including Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities and Capital Markets India, and Nuvama Wealth Management.