Sahajanand Medical Technologies IPO to Open on October 15; Price Band Set at ₹327–₹344
Sahajanand Medical Technologies IPO to Open on October 15 at ₹327–₹344 per Share
Bhargav Kotadia Announces Sahajanand Medical Technologies IPO Details in Ahmedabad
Bilkul Bazaar
Ahmedabad
Sahajanand Medical Technologies Limited (SMT), an India-based medical technology company specialising in cardiovascular devices, will open its initial public offering (IPO) for subscription on October 15, with a price band of ₹327 to ₹344 per equity share.
Bhargav Kotadia, Managing Director and CEO of Sahajanand Medical Technologies Limited, and Akash Gupta of Motilal Investment were in Ahmedabad to announce the details of the company’s IPO. The issue will close on October 19, 2026, and investors can bid for a minimum of 43 equity shares and in multiples of 43 shares thereafter.
The IPO comprises an offer for sale of up to 1,38,22,116 equity shares by the company’s promoter, Shree Hari Trust, promoter group member Dhirajkumar Savjibhai Vasoya, and investor shareholders Samara Capital Markets Holding Limited, Kotak Pre-IPO Opportunities Fund and NHPEA Sparkle Holding B.V. The offer also includes a reservation of up to 2.5 lakh equity shares for eligible employees.
A medical technology company with global operations
Established as a partnership firm in 1999 and incorporated as a company in 2001, Sahajanand Medical Technologies has developed a portfolio of medical devices focused on vascular intervention and structural heart procedures.
The company’s products include coronary stents and balloons used in coronary interventions, transcatheter aortic valve implantation (TAVI) systems and occluders for structural heart procedures. Its portfolio also includes renal stents, peripheral drug-coated balloons and other medical devices.
According to the company’s offer document, SMT was the first company in the world to receive CE certification for a drug-eluting stent featuring a biodegradable polymer-based paclitaxel-eluting technology, marketed as Infinnium. Its product portfolio also includes Supraflex Cruz, Hydra, Sironity, Pipit and Cocoon.
The company has built a presence across international markets through direct operations, hybrid distribution models and distributor-led networks. It marketed its products in 77 countries, including India, during the financial year 2025–26. Its European operations include Germany, Spain, France and the United Kingdom.
SMT operates three manufacturing facilities, two in India and one in Thailand, according to its offer document. The company serves hospitals and healthcare providers and focuses on developing medical technologies for cardiovascular treatment.
Focus on research, innovation and clinical evidence
Research and development form a key part of the company’s business strategy. As of June 30, 2026, SMT operated two R&D centres, one in India and another in Thailand, supported by a team of 156 professionals, including four consultants.
The company had 119 patents granted globally, 78 patent applications in the pipeline and five design registrations in India, as stated in its offer document.
Its research initiatives include the development of products for vascular and structural heart interventions, along with improvements to existing technologies. The company’s Hydra TAVI system incorporates a patented AVDC system designed to improve deliverability. The next-generation AVDC received CE approval in FY2026.
SMT’s flagship products are supported by a clinical research programme covering 75 studies as of June 30, 2026, comprising 66 completed studies and nine ongoing studies. The company has also reported a significant presence in the drug-eluting stent market in India, with nearly 25% market share by sales volume in FY2026, according to a Frost & Sullivan report cited in the offer document.
Revenue and profit increase in FY2026
Sahajanand Medical Technologies reported revenue from operations of ₹1,210.50 crore in FY2026, compared with ₹1,024.88 crore in FY2025.
Profit after tax rose to ₹69.08 crore in FY2026 from ₹25.15 crore in the previous financial year. For the three months ended June 30, 2026, the company reported revenue from operations of ₹351.67 crore and profit after tax of ₹15.09 crore.
The financial performance highlights the company’s growth in revenue and profitability as it continues to operate across domestic and international cardiovascular medical device markets.
IPO details
The price band for the issue has been fixed at ₹327–₹344 per equity share, with a face value of ₹1 per share. The IPO will be conducted through the book-building process in accordance with applicable SEBI regulations.
Not more than 50% of the net offer is reserved for qualified institutional buyers, while not less than 15% is earmarked for non-institutional investors and not less than 35% for retail individual investors, subject to the applicable offer terms.
Motilal Oswal Investment Advisors Limited, Avendus Capital Private Limited, HSBC Securities and Capital Markets (India) Private Limited, and Nuvama Wealth Management Limited are the book-running lead managers. MUFG Intime India Private Limited is the registrar to the issue.
The company’s equity shares are proposed to be listed on the National Stock Exchange of India (NSE) and BSE Limited.
Disclaimer: This article is for information purpose only and is not investment advice. Please read the IPO documents carefully before investing.
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