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Sahajanand Medical Technologies Ltd
Listed
Medical device maker of coronary stents, balloons, TAVI valves and other vascular and structural-heart products.
Issue details
Price band
₹327 – ₹344
Face value
₹1
Lot size
43 shares
Minimum investment
₹14,792
Issue size
₹475.48 Cr
Fresh issue
—
Offer for sale
₹475.48 Cr
Issue type
Book Built
Exchange
NSE, BSE
Key dates
Opens
15 Oct 2026
Closes
19 Oct 2026
UPI mandate cut-off
5:00 PM on 19 Oct 2026
Allotment
21 Oct 2026
Refunds
22 Oct 2026
Shares in demat
22 Oct 2026
Listing
23 Oct 2026
Subscription and listing
Subscription
14.21x
Listing price
₹371.15
Registrar
MUFG Intime India Pvt Ltd
Lead manager
Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities & Capital Markets, Nuvama Wealth Management
Subscription by category
QIB (Ex Anchor)
34.70x
NII
14.64x
bNII (> ₹10L)
16.37x
sNII (< ₹10L)
11.19x
Retail
3.04x
Employee
0.37x
Total
14.21x
Total applications
3,13,726
Anchor investors
Amount raised
₹140.06 Cr
Bid date
14 Oct 2026
50% lock-in ends
19 Nov 2026
Rest lock-in ends
18 Jan 2027
Listing day
Issue price
₹344
Open
₹371.15
High
₹409.95
Low
₹346.65
Day close
₹377.65
Listing gain at open
+7.89%
Issue structure
Shares reserved per category and share of the total issue
QIB
67,86,057
49.10%
Anchor Investor
40,71,634
29.46%
QIB (Ex. Anchor)
27,14,423
19.64%
NII
20,35,818
14.73%
bNII > ₹10L
13,57,212
9.82%
sNII < ₹10L
6,78,606
4.91%
Retail
47,50,241
34.37%
Employee
2,50,000
1.81%
Total
1,38,22,116
100.00%
Finaccle’s quick read
Avoid
The ₹475 Cr issue is 100% OFS, profit swung from a ₹7.35 Cr loss in FY24 to ₹69.08 Cr in FY26, and post-issue P/E is 57.91x with ROE of 10.35%.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Sahajanand Medical Technologies (SMT) designs and makes cardiovascular devices such as coronary stents, balloons, TAVI valves and occluders. It has plants in India and Thailand and sold its products in 77 countries in FY26 to hospitals and cardiologists. It employs about 1,600 full-time staff and earned roughly ₹1,219 Cr in FY26.
Founded
Promoters
Products and segments
Promoter holding
Financial performance
Period
PAT
ROE
10.35%
ROCE
11.57%
Debt / equity
0.27
PAT margin
5.71%
P/E post issue
57.91
Market cap
₹3,496.65 Cr
Use of IPO money
Offer for sale; company receives no proceeds
₹475 Cr
Strengths
✓
Established maker of coronary stents with global sales in 77 countries
✓
Own R&D with 119 patents granted
✓
Steady income growth of about 18% in FY26
✓
Low debt/equity of 0.27
Risks to watch
!
Entire issue is OFS; company gets no fresh capital
!
Loss in FY24 and erratic profit history
!
Thin PAT margin of 5.71% and ROE near 10%
!
Post-issue P/E of 57.91x is rich
!
Rising borrowings over three years
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.