Sahajanand Medical Technologies IPO ends with 14.20 times subscription
Sahajanand Medical Technologies received bids for 13,84,72,771 shares as against 3,02,82,330 shares on offer. The issue was subscribed 14.20 times.
The qualified institutional buyers' (QIB) portion was subscribed 34.70 times, while the non-institutional investors' (NII) category was subscribed 14.64 times. The retail individual investors' (RII) segment was subscribed 3.03 times.
The issue opened for bidding on 15 October 2026 and closed on 19 October 2026. The price band of the IPO is fixed between Rs 327 and 344 per share.
The IPO comprised a complete offer for sale (OFS) of 1,38,22,116 equity shares, aggregating to Rs 475.48 crore, by existing shareholders Shree Hari Trust, Dhirajkumar Savjibhai Vasoya, Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund and NHPEA Sparkle Holding B.V.
The company did not receive any proceeds from the offer, as all proceeds went to the selling shareholders in proportion to the shares sold by them. The promoters were Bhargav Dhirajlal Kotadia, Dhirajlal Vallabhbhai Kotadia, Priyanka Dhirajlal Cohen and Shree Hari Trust. The promoters and promoter group held an aggregate of 4,14,92,500 equity shares, representing 40.82% of the pre-offer issued and paid-up equity share capital. Their post-IPO shareholding was expected to decline to around 36.2%.
Sahajanand Medical Technologies is a medical devices company founded by Dhirajlal Kotadia in 2001, focused on the development and manufacturing of cardiovascular devices for vascular and structural heart interventions. Its product portfolio includes coronary stents, balloons, transcatheter aortic valve implantation (TAVI) devices, occluders, renal stents and peripheral drug-coated balloons. The company operates three manufacturing facilities across India and Thailand and two R&D centres supported by 156 professionals, including consultants. It markets its products in domestic and international markets through direct, hybrid and distributor-led models and held nearly 25% share by sales volume in India?s drug-eluting stent (DES) market in FY26.
Ahead of the IPO, Sahajanand Medical Technologies, on 14 October 2026, raised Rs 140.06 crore from anchor investors. The board allotted 40.71 lakh shares at Rs 344 each to 10 anchor investors.
The firm reported a consolidated net profit of Rs 15.09 crore and sales of Rs 351.67 crore for the twelve months ended on 31 March 2026.
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