The Sahajanand Medical Technologies IPO is a mainboard public issue of Sahajanand Medical Technologies Limited, a medical technology company engaged in the development and manufacturing of cardiovascular medical devices. The company focuses primarily on vascular intervention and structural heart devices, including coronary drug-eluting stents, balloon catheters, transcatheter aortic valve implantation (TAVI) systems and occluders.
The Sahajanand Medical Technologies IPO opened for subscription on 15-October-2026 and will close on 19-October-2026. The IPO comprises an Offer for Sale (OFS) of up to 1,38,22,116 equity shares. There is no fresh issue, meaning the company will not receive any proceeds from the IPO. Investors can use this page to check the Sahajanand Medical Technologies IPO date, price band, market lot, IPO size, GMP, allotment date, subscription details and listing information.
Sahajanand Medical Technologies operates in the specialised cardiovascular medical device industry and markets its products across 77 countries, including India. Its products are used in minimally invasive cardiovascular procedures and include coronary stents, balloons, structural heart devices and other specialised medical products.
Sahajanand Medical Technologies IPO Promoters
Bhargav Dhirajlal Kotadia, Dhirajlal Vallabhbhai Kotadia, Priyanka Dhirajlal Cohen and Shree Hari Trust are the promoters of Sahajanand Medical Technologies Limited. The company was founded in 2001 and is headquartered in Surat, Gujarat.
Sahajanand Medical Technologies Business Overview
Sahajanand Medical Technologies Limited is a medical technology company focused on cardiovascular devices. The company’s product portfolio covers both Vascular Intervention and Structural Heart applications.
The company develops and manufactures medical devices used in minimally invasive cardiovascular procedures. Its major products include drug-eluting coronary stents, balloon catheters, TAVI systems, occluders, renal stents and peripheral drug-coated balloons.
Vascular Intervention Devices
Vascular Intervention is the company’s largest business segment. It contributed approximately 61.14% of revenue from operations in FY2026, generating approximately ₹740.09 Crores of revenue.
The company’s Vascular Intervention portfolio includes coronary drug-eluting stents and balloon catheters. The Supraflex family, including Supraflex Cruz, is an important part of the company’s coronary stent portfolio.
According to the Frost & Sullivan report cited in the RHP, Sahajanand Medical Technologies held approximately 25% of India’s drug-eluting stent market by sales volume in FY2026. The company was also among the top five DES companies by sales volume in Germany, Spain, Poland and Brazil.
Structural Heart Devices
Structural Heart is another important business segment of Sahajanand Medical Technologies. It contributed approximately 16.77% of revenue from operations in FY2026.
The company’s Structural Heart portfolio includes Hydra, a transcatheter aortic valve implantation (TAVI) system, and Cocoon, a range of occluder devices used in selected structural heart procedures.
The contribution of Structural Heart products has increased from approximately 12.26% of revenue in FY2024 to 16.77% in FY2026, indicating the company’s increasing diversification beyond its core coronary stent business.
Other Medical Devices
The company’s other products include renal stents, peripheral drug-coated balloons and certain traded medical devices. This category accounted for approximately 22.09% of revenue from operations in FY2026.
Sahajanand Medical Technologies IPO Date, Details & Price Band
The Sahajanand Medical Technologies IPO price band, IPO dates, issue size, face value and other important details are provided in the table below.
| IPO Opening Date | 15-October-2026 |
| IPO Closing Date | 19-October-2026 |
| Price Band | ₹327-₹344 per share |
| Fresh Issue | Nil |
| Offer for Sale | 1,38,22,116 Equity Shares |
| Total IPO Size | ₹475.48 Crores |
| Face Value | ₹1 per share |
| Issue Type | Book Built Issue |
| IPO Type | 100% Offer for Sale (OFS) |
| Listing On | NSE, BSE |
Sahajanand Medical Technologies IPO Market Lot
The Sahajanand Medical Technologies IPO minimum market lot is 43 shares. Based on the upper price band of ₹344 per share, one retail lot requires an application amount of ₹14,792.
Retail investors can apply for a minimum of one lot and a maximum of 13 lots. Bids can be made in multiples of 43 shares. Up to 2,50,000 equity shares are reserved for eligible employees.
| Lot | No. of Shares | Amount | |
| Retail Minimum | 1 | 43 | ₹14,792 |
| Retail Maximum | 13 | 559 | ₹1,92,296 |
| S-HNI Minimum | 14 | 602 | ₹2,07,088 |
| S-HNI Maximum | 68 | 2,924 | ₹10,05,856 |
| B-HNI Minimum | 69 | 2,967 | ₹10,20,648 |
Sahajanand Medical Technologies IPO: Objects of the Issue
The Sahajanand Medical Technologies IPO is entirely an Offer for Sale (OFS). The issue consists of up to 1,38,22,116 equity shares being offered by existing shareholders.
Since there is no fresh issue of shares, Sahajanand Medical Technologies Limited will not receive any proceeds from the IPO. The proceeds from the offer, after applicable offer expenses, will accrue to the selling shareholders.
The selling shareholders include Shree Hari Trust, Dhirajkumar Savjibhai Vasoya, Samara Capital Markets Holding Limited, NHPEA Sparkle Holding B.V. and Kotak Pre-IPO Opportunities Fund.
Sahajanand Medical Technologies Financial Performance
Sahajanand Medical Technologies has reported consistent growth in revenue from operations over the last three financial years. Revenue increased from ₹901.60 Crores in FY2024 to ₹1,024.88 Crores in FY2025 and further to ₹1,210.50 Crores in FY2026.
The company also returned to profitability. Profit after tax improved from a loss of ₹7.35 Crores in FY2024 to a profit of ₹25.15 Crores in FY2025 and ₹69.08 Crores in FY2026.
EBITDA increased from ₹110.05 Crores in FY2024 to ₹128.02 Crores in FY2025 and ₹170.66 Crores in FY2026, while the EBITDA margin improved to approximately 14.10% in FY2026.
| Revenue from Operations | EBITDA | Profit After Tax | |
| 31-Mar-26 | 1,210.50 | 170.66 | 69.08 |
| 31-Mar-25 | 1,024.88 | 128.02 | 25.15 |
| 31-Mar-24 | 901.60 | 110.05 | -7.35 |
Sahajanand Medical Technologies Latest Quarterly Performance
For the quarter ended 30-June-2026, Sahajanand Medical Technologies reported total income of approximately ₹354.33 Crores and profit after tax of approximately ₹15.09 Crores. EBITDA for the quarter was approximately ₹48.58 Crores.
| Total Income | EBITDA | Profit After Tax | |
| 30-Jun-26 | 354.33 | 48.58 | 15.09 |
Sahajanand Medical Technologies IPO Strengths
Sahajanand Medical Technologies operates in a specialised medical-device segment with a growing product portfolio, international presence and established research and development capabilities.
- Strong cardiovascular product portfolio: The company manufactures coronary stents, balloon catheters, TAVI systems, occluders, renal stents and peripheral drug-coated balloons.
- Strong position in Indian DES market: According to the Frost & Sullivan report cited in the RHP, the company held approximately 25% of India’s drug-eluting stent market by sales volume in FY2026.
- Global presence: The company marketed its products in 77 countries in FY2026, with international markets contributing approximately 73.87% of revenue from operations.
- Growing Structural Heart business: Structural Heart revenue contribution increased to 16.77% in FY2026 from 12.26% in FY2024.
- Improving profitability: PAT increased from a loss of ₹7.35 Crores in FY2024 to ₹69.08 Crores in FY2026.
- Strong R&D capabilities: The company had 119 granted patents globally, 78 pending patent applications and five design registrations as of the RHP date.
- Clinical research: As of 30-June-2026, the company’s products were supported by 75 clinical studies, including completed and ongoing studies.
- Integrated manufacturing: The company operates three manufacturing facilities and has in-house capabilities covering areas such as balloon catheter production, laser cutting, electropolishing, drug and polymer coating and valve manufacturing.
Sahajanand Medical Technologies IPO Risks
Investors should carefully evaluate the risks disclosed in the company’s RHP before applying for the IPO. Although the company has demonstrated revenue and profit growth, its business remains exposed to product concentration, international markets, regulatory requirements and supply-chain risks.
- Product concentration: Vascular Intervention devices contributed approximately 61.14% of revenue from operations in FY2026. The Supraflex Cruz product alone contributed approximately 37.17% of FY2026 revenue.
- Dependence on imported materials: Imports represented approximately 77.18% of total purchases in FY2026, exposing the company to foreign exchange, import restrictions and supply-chain risks.
- International revenue exposure: Approximately 73.87% of revenue from operations came from customers outside India in FY2026. Changes in foreign exchange rates, international regulations or overseas demand could affect performance.
- Supplier concentration: The company’s top 10 suppliers accounted for approximately 59.15% of purchases in FY2026. The company also depends on certain suppliers for critical materials.
- Regulatory risks: Medical devices are subject to regulatory approvals and quality standards in different countries. Delays or failure in obtaining regulatory approvals can affect product launches and sales.
- Working capital requirements: The company’s operations require significant working capital, which may affect cash flows and liquidity.
- Research and development risk: The company invests significantly in R&D, and unsuccessful product development or delays in regulatory approval could affect returns on these investments.
Sahajanand Medical Technologies IPO GMP & Grey Market Premium
The Sahajanand Medical Technologies IPO GMP (Grey Market Premium) represents the premium at which the IPO is reportedly being traded in the unofficial grey market. GMP can change frequently depending on IPO demand, subscription levels, market sentiment and broader market conditions.
As of 15-October-2026, the reported GMP was approximately ₹41 per share. Against the upper IPO price of ₹344, this indicates an unofficial estimated listing price of approximately ₹385 per share, representing an indicative premium of around 11.92%.
At a GMP of ₹41, the indicative premium for one retail lot of 43 shares would be approximately ₹1,763. However, GMP is unofficial and should not be treated as a guaranteed listing gain or listing price.
Check the latest Sahajanand Medical Technologies IPO GMP, Kostak Rate and Subject to Sauda information before making an investment decision.
Sahajanand Medical Technologies IPO Subscription Status
The Sahajanand Medical Technologies IPO opened for subscription on 15-October-2026. As of approximately 3:54 PM on 15-October-2026, the issue was reported to be subscribed around 0.30 times overall.
| Investor Category | Subscription |
| Qualified Institutional Buyers (QIB) | 0.37x |
| Non-Institutional Investors (NII) | 0.14x |
| Small NII | 0.24x |
| Big NII | 0.10x |
| Retail Individual Investors (RII) | 0.33x |
| Employees | 0.08x |
| Overall | 0.30x |
Subscription figures can change throughout the bidding period. Investors should check the latest category-wise subscription data before making an application decision.
Sahajanand Medical Technologies IPO Review
The Sahajanand Medical Technologies IPO provides investors exposure to the specialised cardiovascular medical device industry. The company has an established portfolio of coronary stents, balloon catheters and structural heart devices, along with a growing international presence.
The company has demonstrated improving financial performance, with revenue from operations increasing to ₹1,210.50 Crores in FY2026 and PAT improving to ₹69.08 Crores. EBITDA also increased to ₹170.66 Crores, with the EBITDA margin reaching approximately 14.10%.
However, investors should consider the company’s dependence on Vascular Intervention products, particularly Supraflex Cruz, as well as its high international revenue exposure and dependence on imported raw materials and components.
The IPO is also entirely an Offer for Sale. Therefore, the company will not receive new capital from the IPO for business expansion, debt repayment or other corporate purposes.
At the upper price band of ₹344, the company is valued at approximately ₹3,496.65 Crores. Based on FY2026 diluted EPS of approximately ₹6.48, the IPO valuation represents a P/E multiple of roughly 53 times, which should be evaluated against the company’s growth prospects and listed medical-device peers.
The final IPO decision should be based on the company’s financial performance, valuation, product portfolio, international expansion, competitive position, regulatory risks, supply-chain exposure and prevailing market conditions rather than GMP alone.
Sahajanand Medical Technologies IPO Prospectus
The Sahajanand Medical Technologies IPO Prospectus contains detailed information about the company’s business, financial performance, risk factors, promoters, management, selling shareholders, legal matters and IPO structure. Investors should read the RHP carefully before applying for the issue.
| DRHP | View |
| Company Investor Page | View |
| Anchor List | View |
Sahajanand Medical Technologies IPO Allotment Date & Details
After the IPO closes, the registrar will process the basis of allotment. Investors can check their application status through the registrar’s website once the allotment process is completed.
| Allotment Date | 21-October-2026 |
| Initiation of Refunds | 22-October-2026 |
| Transfer of Shares to Demat Accounts | 22-October-2026 |
| Listing Date | 23-October-2026 |
| Check Allotment Status | Click here |
Sahajanand Medical Technologies IPO Registrar
MUFG Intime India Private Limited is the registrar for the Sahajanand Medical Technologies IPO. The registrar is responsible for processing IPO applications, maintaining application records and handling the allotment process.
Website: www.in.mpms.mufg.com
Sahajanand Medical Technologies IPO Contact Address
Sahajanand Medical Technologies Limited
Corporate Office: 402 & 412, A-Wing, Kanakia Wall Street, Andheri-Kurla Road, Chakala, Andheri (East), Mumbai, Maharashtra – 400093, India
Telephone: 022 49564000
Investor Grievance Email: investors.grievance@smt.in
Sahajanand Medical Technologies IPO Lead Managers
The book running lead managers to the Sahajanand Medical Technologies IPO are:
- Motilal Oswal Investment Advisors Limited
- Avendus Capital Private Limited
- HSBC Securities and Capital Markets (India) Private Limited
- Nuvama Wealth Management Limited
MUFG Intime India Private Limited is acting as the registrar to the issue.
Sahajanand Medical Technologies IPO FAQs
When is the Sahajanand Medical Technologies IPO opening date?
The Sahajanand Medical Technologies IPO opened for subscription on 15-October-2026 and will close on 19-October-2026.
What is the Sahajanand Medical Technologies IPO price band?
The Sahajanand Medical Technologies IPO price band is ₹327 to ₹344 per share.
What is the minimum lot size of the Sahajanand Medical Technologies IPO?
The minimum application lot is 43 shares, requiring ₹14,792 at the upper price band of ₹344 per share.
What is the Sahajanand Medical Technologies IPO size?
The Sahajanand Medical Technologies IPO size is approximately ₹475.48 Crores. The issue consists entirely of an Offer for Sale (OFS) of up to 1,38,22,116 equity shares.
Is Sahajanand Medical Technologies IPO a fresh issue or OFS?
The Sahajanand Medical Technologies IPO is a 100% Offer for Sale (OFS). The company is not issuing any new shares and therefore will not receive proceeds from the IPO.
What is the latest Sahajanand Medical Technologies IPO GMP?
As of 15-October-2026, the reported GMP was approximately ₹41 per share. Against the upper issue price of ₹344, this indicates an unofficial estimated listing price of approximately ₹385. GMP is unofficial and can change before listing.
What is the latest Sahajanand Medical Technologies IPO subscription status?
As of approximately 3:54 PM on 15-October-2026, the issue was reported to be subscribed around 0.30 times overall. QIB subscription was 0.37x, NII subscription was 0.14x and retail subscription was 0.33x at that time.
What is the Sahajanand Medical Technologies IPO allotment date?
The tentative basis of allotment date is 21-October-2026.
When will Sahajanand Medical Technologies IPO shares be listed?
The Sahajanand Medical Technologies shares are expected to be listed on the NSE and BSE on 23-October-2026.
Where can I check Sahajanand Medical Technologies IPO allotment status?
Investors can check the Sahajanand Medical Technologies IPO allotment status through the official website of MUFG Intime India Private Limited, the registrar to the issue, after the basis of allotment is finalized.
Is Sahajanand Medical Technologies IPO GMP reliable?
No. IPO GMP is an unofficial market indicator and can change frequently. Investors should not consider GMP as a guaranteed indication of the actual listing price or listing gain.
Is Sahajanand Medical Technologies profitable?
Yes. The company reported a profit after tax of ₹69.08 Crores in FY2026, compared with ₹25.15 Crores in FY2025 and a loss of ₹7.35 Crores in FY2024.
What are the main products of Sahajanand Medical Technologies?
The company’s major products include coronary drug-eluting stents, balloon catheters, TAVI systems, occluders, renal stents and peripheral drug-coated balloons.
How many countries does Sahajanand Medical Technologies operate in?
Sahajanand Medical Technologies marketed its products in 77 countries, including India, during FY2026.