Mainboard
    closed

    Sahajanand Medical Technologies IPO

    Updated 20 Oct 2026, 6:50 pm.

    Open Demat Account
    GMP disclaimer: GMP is unofficial and unregulated. It is not a recommendation or a reliable estimate of listing price or returns. Consider the RHP and your own risk assessment before applying.

    Minimum investment (Retail)

    ₹14,792

    1 lot · 43 shares at the upper price band

    Price band

    ₹344

    Latest GMP

    ₹25

    +7.3% of the ₹344 upper band

    Est. listing price

    ₹369

    Issue size

    ₹475.48 Cr

    As NSE lists it

    The exchange's own issue data, NSE symbol SMT · read 21 Oct 2026, 12:15 am

    Price band
    ₹327–344
    Bidding
    15 Oct 2026 – 19 Oct 2026
    Subscribed (NSE)
    —
    Shares offered
    —

    NSE's subscription counts bids on its own platform and can differ from the combined NSE + BSE figure above.

    Allotment status

    Check it on the registrar's page or either exchange with your PAN or application number.

    1. Allotment finalised21 Oct 2026(done)
    2. Refunds start22 Oct 2026(upcoming)
    3. Shares credited to demat22 Oct 2026(upcoming)
    4. Listing23 Oct 2026(upcoming)
    Check on MUFG Intime India Pvt.Ltd.Check on BSECheck on NSE

    GMP history

    Each point is a recorded observation from the scheduled data sync.

    ObservedGMPEst. listing price
    20 Oct 2026, 6:50 pm₹25₹369
    20 Oct 2026, 6:45 pm₹25₹369
    20 Oct 2026, 1:50 pm₹25₹369
    20 Oct 2026, 1:45 pm₹25₹369
    20 Oct 2026, 8:50 am₹25₹369
    20 Oct 2026, 8:45 am₹25₹369
    19 Oct 2026, 6:50 pm₹25₹369
    19 Oct 2026, 6:45 pm₹25₹369
    19 Oct 2026, 1:50 pm₹25₹369
    19 Oct 2026, 1:45 pm₹25₹369
    19 Oct 2026, 8:50 am₹25₹369
    19 Oct 2026, 8:45 am₹25₹369
    19 Oct 2026, 1:32 am₹15₹359
    17 Oct 2026, 6:50 pm₹16₹359
    17 Oct 2026, 6:45 pm₹15₹359
    17 Oct 2026, 1:50 pm₹32₹379
    17 Oct 2026, 1:45 pm₹35₹379
    17 Oct 2026, 8:50 am₹35₹379
    17 Oct 2026, 8:45 am₹35₹379
    16 Oct 2026, 6:50 pm₹39₹384
    16 Oct 2026, 6:45 pm₹40₹384
    16 Oct 2026, 1:50 pm₹38₹384
    16 Oct 2026, 1:45 pm₹40₹384
    16 Oct 2026, 8:50 am₹44₹389
    16 Oct 2026, 8:45 am₹45₹389
    15 Oct 2026, 6:50 pm₹46₹389
    15 Oct 2026, 6:45 pm₹45₹389
    15 Oct 2026, 1:50 pm₹44₹386
    15 Oct 2026, 1:45 pm₹42₹386
    15 Oct 2026, 8:50 am₹42₹386
    15 Oct 2026, 8:45 am₹42₹386
    15 Oct 2026, 12:27 am₹42₹386
    15 Oct 2026, 12:22 am₹42₹386
    14 Oct 2026, 6:50 pm₹37—
    14 Oct 2026, 6:45 pm₹42₹386
    14 Oct 2026, 1:50 pm₹43—
    14 Oct 2026, 1:45 pm₹42₹386
    14 Oct 2026, 8:50 am₹41—
    14 Oct 2026, 8:45 am₹42₹386
    13 Oct 2026, 6:50 pm₹35—
    13 Oct 2026, 6:45 pm₹42₹386
    13 Oct 2026, 1:50 pm₹42—
    13 Oct 2026, 1:45 pm₹36₹380
    13 Oct 2026, 8:50 am₹35—
    13 Oct 2026, 8:45 am₹36₹380
    12 Oct 2026, 6:50 pm₹35—
    12 Oct 2026, 6:45 pm₹46₹390
    12 Oct 2026, 1:50 pm₹46—
    12 Oct 2026, 8:50 am₹40—
    12 Oct 2026, 8:45 am₹40₹384
    10 Oct 2026, 6:50 pm₹0—
    10 Oct 2026, 6:45 pm₹0—
    10 Oct 2026, 1:50 pm₹0—
    10 Oct 2026, 1:45 pm₹0—

    GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.

    Issue details

    Board
    Mainboard
    Price band
    ₹344
    Issue size
    ₹475.48 Cr
    Lot size
    43
    Opens
    15 Oct 2026
    Closes
    19 Oct 2026
    Allotment
    21 Oct 2026
    Listing
    23 Oct 2026
    Est. listing price
    ₹369
    Listing price
    Awaited
    Listing gain
    Awaited
    Registrar
    MUFG Intime India Pvt.Ltd.
    Minimum investment
    ₹14,792 (1 lot · 43 shares)
    Face value
    ₹1 per share
    Issue type
    Bookbuilding IPO
    Sale type
    OFS only
    Offer for sale
    ₹475 Cr
    Listing at
    BSE, NSE
    Refunds
    22 Oct 2026
    Shares credited
    22 Oct 2026
    Promoter holding
    40.82% before · 36.2% after
    Lead managers
    Motilal Oswal Investment Advisors Ltd., Avendus Capital Pvt.Ltd., HSBC Securities & Capital Markets (India) Pvt.Ltd., Nuvama Wealth Management Ltd.

    Offer documents & links

    Red Herring Prospectus (RHP)Check allotment statusCompany website

    Subscription by category

    As of 19 Oct 2026, 5:54 pm.

    Total subscription

    14.21x

    Qualified Institutional34.70×
    Non Institutional14.64×
    Retail Individual3.04×
    Employee Reservations0.37×

    Full issue details

    Details as published for this issue, read 20 Oct 2026, 9:05 am. Verify against the RHP before applying.

    IPO Details

    IPO Date15 to 19 Oct, 2026
    Listing DateFri, Oct 23, 2026 (tentative)
    Face Value₹ 1 per share
    Price Band₹327 to ₹344
    Lot Size43 Shares
    Sale TypeOFS only
    Issue TypeBookbuilding IPO
    Listing AtBSE, NSE
    Total Issue Size1,38,22,116 shares (agg. up to ₹ 475 Cr)
    Offer for Sale1,38,22,116 shares of ₹ 1 (agg. up to ₹ 475 Cr)
    Share Holding Pre Issue10,16,46,778 shares
    Share Holding Post Issue10,16,46,778 shares

    IPO Timetable (Tentative)

    IPO Open
    Thu, Oct 15, 2026
    IPO Close
    Mon, Oct 19, 2026
    Allotment
    Wed, Oct 21, 2026
    Refund
    Thu, Oct 22, 2026
    Credit of Shares
    Thu, Oct 22, 2026
    Listing
    Fri, Oct 23, 2026

    Issue Reservation

    • QIB49.10%
    • NII (HNI)14.73%
    • Retail34.37%
    • Employee1.81%
    Issue Reservation: Share of the issue reserved for each investor category. Figures as published in the table below.
    Investor CategoryShares% of Net Issue% of Total IssueMax Allottees
    QIB67,86,05850.00%49.10%NA
    - Anchor Investor40,71,634—29.46%NA
    - QIB (Ex. Anchor)27,14,424—19.64%NA
    NII (HNI)20,35,81715.00%14.73%NA
    - bNII > ₹10L13,57,212—9.82%2,254
    - sNII < ₹10L6,78,606—4.91%1,127
    Retail47,50,24135.00%34.37%1,10,470
    Preferential Reservations
    Employee2,50,000—1.81%NA
    Total1,38,22,116100.00%100.00%—

    Sahajanand Medical Technologies IPO comprises a total issue size of 1,38,22,116 shares. The net offer to the public is 1,35,72,116 shares, after excluding 2,50,000 shares under a preferential allotment. Of the Net offer 67,86,058 (50.00%) are allocated to QIB , 20,35,817 (15.00%) allocated to NII 47,50,241 (35.00%) allocated to RII .

    IPO Lot Size

    Retail (Min)₹14,792
    Retail (Max)₹1,92,296
    S-HNI (Min)₹2,07,088
    S-HNI (Max)₹9,91,064
    B-HNI (Min)₹10,05,856
    IPO Lot Size: What an application costs at the upper price band, by category. Figures as published in the table below.
    ApplicationLotsSharesAmount
    Retail (Min)143₹14,792
    Retail (Max)13559₹1,92,296
    S-HNI (Min)14602₹2,07,088
    S-HNI (Max)672,881₹9,91,064
    B-HNI (Min)682,924₹10,05,856

    Investors can bid for a minimum of 43 shares and in multiples thereof.

    IPO Anchor Investors

    Bid DateWed, Oct 14, 2026
    Shares Offered40,71,634
    Anchor Portion (₹ Cr.)140.06
    Anchor lock-in period end date for 50% shares (30 Days)Fri, Nov 20, 2026
    Anchor lock-in period end date for remaining shares (90 Days)Tue, Jan 19, 2027

    Sahajanand Medical Technologies IPO raises ₹ 140.06 crore from anchor investors . Sahajanand Medical Technologies IPO Anchor bid date is October 14, 2026 .

    📝 Anchor Investors Letter (PDF)

    Investor Category Reservations

    CategoryLimitCut-off
    RIIUp to ₹2 LakhsYes
    sNII₹2 Lakhs – ₹10 LakhsNo
    bNIIAbove ₹10 LakhsNo
    Employee (EMP)Up to ₹5 LakhsYes
    Employee + RII/NIIUp to ₹5Lakhs (EMP) + RII/NII limitsYes (EMP/RII)

    About Sahajanand Medical Technologies Ltd.

    Incorporated in October 2001, Sahajanand Medical Technologies Limited is a medical technology company engaged in the development, manufacturing and marketing of technologically advanced medical devices, primarily focused on vascular intervention and structural heart intervention. Its product portfolio includes coronary stents, coronary balloons, transcatheter aortic valve implantation (TAVI) devices, occluders, renal stents and peripheral drug-coated balloons (DCBs). The Company focuses on research and development, precision manufacturing and clinically supported product innovation. Its flagship brands include Supraflex Cruz, Cocoon and Hydra, serving different areas of interventional cardiology.

    The Company operates three manufacturing facilities, two in India and one in Thailand, supported by two R&D centres in India and Thailand. As of June 30, 2026, it had 119 patents granted globally, 78 patent applications in the pipeline and five design registrations in India. Its products were marketed in 77 countries in Fiscal 2026, through direct, hybrid and distributor-led models, with established market presence in India, Europe and other international markets.

    The Company reported revenue from operations of ₹12,105.04 million in Fiscal 2026, compared with ₹10,248.79 million in Fiscal 2025 and ₹9,016.04 million in Fiscal 2024.

    As of June 30, 2026, it had 1,605 full-time employees, 31 consultants and 707 contract-based employees.

    Competitive Strengths

    Extensive global sales and marketing network.

    Strong research and development capabilities.

    Diversified and integrated manufacturing facilities.

    Leadership in India and key international markets.

    Proven M&A and strategic collaboration capabilities.

    Technologically advanced medical devices in high-barrier segments.

    Experienced leadership team backed by reputed institutional investors.

    Company Financials (Restated Consolidated)

    Total Income

    31 Mar 2024908.59
    31 Mar 20251,035.96
    31 Mar 20261,218.73
    30 Jun 2026part period354.33

    Profit After Tax

    31 Mar 2024-7.35
    31 Mar 202525.15
    31 Mar 202669.08
    30 Jun 2026part period15.09

    EBITDA

    31 Mar 2024110.05
    31 Mar 2025128.02
    31 Mar 2026170.66
    30 Jun 2026part period48.58

    NET Worth

    31 Mar 2024526.30
    31 Mar 2025545.23
    31 Mar 2026616.05
    30 Jun 2026part period631.72
    Company Financials (Restated Consolidated): Each line is scaled to its own largest period, ₹ crore - compare periods within a line, not one line against another. The muted bar is a part period, not a full year - it is shorter, not smaller. Figures as published in the table below.
    Period Ended30 Jun 202631 Mar 202631 Mar 202531 Mar 2024
    Assets1,309.001,276.431,094.90970.58
    Total Income354.331,218.731,035.96908.59
    Profit After Tax15.0969.0825.15-7.35
    EBITDA48.58170.66128.02110.05
    NET Worth631.72616.05545.23526.30
    Reserves and Surplus706.86692.48580.71556.57
    Total Borrowing320.63269.53224.96175.27
    Amount in ₹ Crore

    Sahajanand Medical Technologies Ltd.'s revenue increased by 18% and profit after tax (PAT) rose by 175% between the financial year ending with March 31, 2026 and March 31, 2025.

    Recently Listed IPOs in Hospital

    CompanyIssue TypeIssue SizeIssue PricePE RatioListing Day CloseListing Gain/Loss %LTP
    Rays of Belief Ltd.Mainboard₹125.00 Cr₹23975.63₹228.34-4.46%₹285.52
    Manipal Health Enterprises Ltd.Mainboard₹9,275.22 Cr₹59075.93₹666.95+13.04%₹642.40
    Gujarat Kidney & Super Speciality Ltd.Mainboard₹250.80 Cr₹11461.62₹104.54-8.30%₹187.37
    Park Medi World Ltd.Mainboard₹920.00 Cr₹16229.21₹147.95-8.67%₹235.70
    ABH Healthcare Ltd.SME₹34.98 Cr₹10214.47₹94.05-7.79%₹44.90
    Hannah Joseph Hospital Ltd.SME₹42.00 Cr₹7016.21₹68.25-2.50%₹101.10

    IPO Objects of the Issue

    The Sahajanand Medical Technologies Ltd. IPO is a 100% Offer for Sale (OFS), so the company will not receive any funding and the entire IPO proceeds will go to the selling shareholders.

    Key Performance Indicator (KPI)

    ROE

    Mar 31, 202610.35%
    Jun 30, 2026part period2.07%

    ROCE

    Mar 31, 202611.57%
    Jun 30, 2026part period3.16%

    RoNW

    Mar 31, 202610.60%
    Jun 30, 2026part period2.31%

    PAT Margin

    Mar 31, 20265.71%
    Jun 30, 2026part period4.29%

    EBITDA Margin

    Mar 31, 202614.10%
    Jun 30, 2026part period13.81%
    Key Performance Indicator (KPI): The percentage ratios only; the table's absolute figures stay in the table. The muted bar is a part period, not a full year - it is shorter, not smaller. Figures as published in the table below.
    KPIJun 30, 2026Mar 31, 2026
    ROE2.07%10.35%
    ROCE3.16%11.57%
    Debt/Equity0.330.27
    RoNW2.31%10.60%
    PAT Margin4.29%5.71%
    EBITDA Margin13.81%14.10%
    NAV64.3562.76
    P/B (x)—5.48

    Check IPO Peer Comparison here.

    IPO Valuation

    Valuation MetricPre IPOPost IPO
    EPS (₹)6.805.94
    P/E (x)50.5957.91
    Market Cap at Offer Price₹3,496.65 Cr.₹3,496.65 Cr.

    Disclaimer

    The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue

    The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.

    The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2026 available in RHP.

    Shareholding Structure

    Pre IPO

    • Promoter and Promoter Group40.82%
    • Public59.18%

    Post IPO

    • Promoter and Promoter Group36.2%
    • Public63.80%
    Shareholding Structure: Who holds the company before and after the issue. Figures as published in the table below.
    CategoryPre IPOPost IPO
    Promoter and Promoter Group40.82%36.2%
    Public59.18%63.80%
    Total100%100%

    Company Promoters: Bhargav Dhirajlal Kotadia, Dhirajlal Vallabhbhai Kotadia, Priyanka Dhirajlal Cohen and Shree Hari Trust.

    Offer For Sale - Selling Shareholders

    NameCategoryNo. of Shares OfferedAmount (₹ cr.)
    Shree Hari TrustPromoter27,00,00092.88
    Dhirajkumar Savjibhai VasoyaPromoter20,00,00068.80
    Samara Capital Markets Holding Ltd.Corporate64,79,063222.88
    Kotak Pre-IPO Opportunities FundCorporate13,07,87544.99
    NHPEA Sparkle Holding BVCorporate13,35,17845.93
    Total—1,38,22,116475.48

    Sahajanand Medical Technologies IPO Recommendations

    Review BySubscribeMay ApplyNeutralAvoid
    Brokers0010
    Members0000

    IPO Subscription Status

    CategorySubscription (x)Shares OfferedShares bid for
    QIB (Ex Anchor)34.7027,14,4249,41,79,804
    NII14.6420,35,8172,98,08,460
    bNII (> ₹10L)16.3713,57,2122,22,12,725
    sNII (< ₹10L)11.196,78,60675,95,735
    Retail3.0447,50,2411,44,35,659
    Employee0.372,50,00092,794
    Total14.2197,50,48213,85,16,717

    The Sahajanand Medical Technologies IPO is subscribed 14.21 times on October 19, 2026 5:54:57 PM (Day 3). The public issue subscribed 3.04 times in the retail category, 34.70 times in the QIB category, and 14.64 times in the NII category. Check Day by Day Subscription Details (Live Status)

    Reload

    Total Applications: 3,22,158

    IPO Registrar

    MUFG Intime India Pvt.Ltd.

    022-49186000

    sahajanandmedical.ipo@in.mpms.mufg.com

    IPO Lead Manager(s)

    Motilal Oswal Investment Advisors Ltd.

    Avendus Capital Pvt.Ltd.

    HSBC Securities & Capital Markets (India) Pvt.Ltd.

    Nuvama Wealth Management Ltd.

    Contact Details

    Sahajanand Medical Technologies Ltd. Address

    Sahajanand Estate, Wakharia Wadi,

    NR. Dabholi Char Rasta

    Nani Ved, Ved Road

    Surat, Gujarat , 395004

    022 49564000

    investors.grievance@smt.in

    Sahajanand Medical Technologies IPO in the news

    Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.

    Sahajanand Medical Technologies IPO Subscribed 14.2x

    Rediff MoneyWiz · 19 Oct 2026

    Sahajanand Medical Technologies IPO Subscription Status Day 3: Issue Subscribed 14.21 Times

    HDFC Sky · 19 Oct 2026

    Sahajanand Medical IPO vs Tonbo IPO vs Bonfiglioli IPO vs Zetwerk IPO: Compare GMP, Subscription Status & More

    Goodreturns · 19 Oct 2026

    Sahajanand Medical Technologies IPO fully subscribed on Day 3; check latest GMP

    Moneycontrol.com · 19 Oct 2026

    IPO GMP Race: Zetwerk, Sahajanand, Bonfiglioli, Tonbo View

    Univest · 19 Oct 2026

    Sahajanand Medical Technologies IPO: GMP, Price, Apply or Avoid

    INDmoney · 19 Oct 2026

    Sahajanand Medical Technologies IPO Day 3: GMP at 7%; check subscription status and key details

    The Economic Times · 19 Oct 2026

    IPO GMP Today: Tonbo Imaging Vs Zetwerk Vs Bonfiglioli Vs Sahajanand IPO Day 3: Subscription Status, GMP And Price Band

    NDTV Profit · 19 Oct 2026

    FAQ

    Sahajanand Medical Technologies: common questions

    Answered from this issue's own record.

    The Sahajanand Medical Technologies Mainboard IPO is priced at ₹344 per share, for an issue size of ₹475.48 crore.

    The issue opens on 15 Oct 2026 and closes on 19 Oct 2026, with listing expected on 23 Oct 2026.

    One lot is 43 shares, and applications must be in multiples of a lot. At the upper band that is ₹14,792 for one lot.

    Latest recorded subscription: QIB 34.7x, NII 14.64x, retail 3.04x (as of 20 Oct 2026).