Sahajanand Medical Technologies IPO

About Sahajanand Medical Technologies IPO

Sahajanand Medical Technologies IPO, a Mainboard SME IPO, opens on Thursday, October 15, 2026 and closes on Monday, October 19, 2026. The allotment of shares will take place on Wednesday, October 21, 2026. The listing of shares will take place on Friday, October 23, 2026 on the BSE and NSE.

Sahajanand Medical Technologies IPO's price band is set at ₹327 to ₹344 per share. The lot size for an application is 43 shares. The minimum amount of investment required by a retail individual investor is ₹14,792 (43 shares) based on the upper price. The offer consists of an offer for sale component. The offer for sale issue will include 1.38 crore shares of ₹475.48 crore.

Sahajanand Medical Technologies is engaged in the development of Class III and Class C/D medical devices, with an emphasis on Vascular Intervention (VI) and Structural Heart (SH).

Sahajanand Medical Technologies IPO Objectives

1. Carry out the offer for sale of 13,822,116 equity shares.
2. Achieve the benefits of listing the equity shares on the stock exchanges.

Sahajanand Medical Technologies Anchor Investor Bidding Date

Wednesday, October 14, 2026

About Sahajanand Medical Technologies

Sahajanand Medical Technologies is an R&D-driven company engaged in developing Class III and Class C/D medical devices, with a focus on Vascular Intervention (VI) and Structural Heart (SH). According to the F&S Report, VI refers to minimally invasive procedures used to diagnose or treat diseases of the blood vessels, while SH interventions involve minimally invasive procedures to treat defects or abnormalities in the heart’s structure.

The company’s product portfolio comprises three categories: (i) VI products, including coronary intervention products such as coronary stents and coronary balloons; (ii) SH products, including Transcatheter Aortic Valve Implantation (TAVI) products and occluders; and (iii) other products, including its own-brand renal stents, peripheral drug-coated balloons (DCBs) and other trading products.

Strengths

1. Technologically advanced products in segments with high barriers to entry.
2. Leadership in India and key international markets across products.
3. Deep global sales and marketing presence leading to fast growth in diversified international markets.
4. Diversified, integrated, and efficient manufacturing facilities accredited by regulatory authorities.
5. Proven M&A and strategic collaborations playbook.
6. Experienced leadership team backed by reputed institutional investors.

Risks

1. Their manufacturing facilities are subject to certain risks, including quality control issues, disruptions in infrastructure facilities, which could increase their manufacturing costs or interrupt operations.
2. Dependence on the continued supply of raw materials and components, the supply and cost of which can be subject to significant variation due to factors outside their control.
3. Any adverse impact on sales of products within the Vascular Intervention devices vertical, or of the Supraflex Cruz would adversely affect the business.
4. Regulatory uncertainty associated with pricing of medical devices could adversely affect the marketing, pricing and demand for the products.
5. Exposure to foreign currency exchange rate fluctuations.
6. Subject to product liability exposure, and any product liability claims or regulatory actions or the recall of any of the products due to defects.

Business Model

The company generates revenue through the development and marketing of Class III and Class C/D medical devices, with a focus on Vascular Intervention (VI) and Structural Heart (SH). Its products are marketed in 76 countries through direct, hybrid and distributor-led models, depending on local regulatory requirements and market conditions.

In India, the company follows a hybrid model to serve large hospitals, including Narayana Hrudayalaya Limited. In Europe, it has direct operations in major markets such as Germany, Spain, France and the UK, while in certain other markets, including Italy, it relies on distributors to facilitate market entry and expand its reach.

Growth Trajectory

Sahajanand Medical Technologies' Total Income for FY 26 was ₹1218.72 crore, whereas in FY25 and FY 24 it was ₹1035.96 crore and ₹908.59 crore, respectively.

The Profit After Tax for FY 26 was ₹69.08 crore, whereas in FY 25 and FY 24 it was ₹25.15 crore and ₹(7.35) crore, respectively.

Their EBITDA for FY 26 was ₹170.65 crore, whereas in FY 25 and FY 24 it was ₹128.02 crore and ₹110.05 crore, respectively.

Market Position

Over the years, the company has introduced several innovative products, driven by their focus on research and development and precision manufacturing capabilities enabling them to deliver quality products backed by clinical data, with a presence across 65 countries (including India) in the three months ended June 30, 2026 and 77 countries (including India) in Fiscal 2026.

As of 31 March 2026, the company's Total Income, Profit After Tax, and EBITDA were ₹1218.72 crore, ₹69.08 crore, and ₹170.65 crore, respectively.

Industry Outlook

Major segments of the Indian Medical device industry include Equipment and Electronics, Disposables and Consumables, IVD equipment and Reagents, Implants, Surgical Instruments and other devices. India is counted among the top 20 global medical device markets in terms of value. The Indian Medical Device market is the fastest growing segment in the Indian healthcare market, and it is estimated to reach USD 5010 crore by 2030 at a growth rate of 26.9% from its estimated value of USD 1520 crore in 2025. In countries such as China and India, the price caps introduced on stents are driving efforts to make these devices more affordable and accessible.

Sahajanand Medical Technologies IPO Registrar Details & Book Managers

Registrar Details
MUFG Intime India Pvt.Ltd.
Phone: 022-49186000
Email: sahajanandmedical.ipo@in.mpms.mufg.com

Book Running Lead Managers

1. Motilal Oswal Investment Advisors Ltd.
   
2. Avendus Capital Pvt.Ltd.
   
3. HSBC Securities & Capital Markets (India) Pvt.Ltd.
   
4. Nuvama Wealth Management Ltd.
   

Company Contact Details

Sahajanand Estate, Wakharia Wadi, NR. Dabholi Char Rasta, Nani Ved,
Ved Road Surat, Gujarat, 395004
Phone: 022 49564000
Email: investors.grievance@smt.in

How to Apply for Sahajanand Medical Technologies IPO?

1. Log in to your Kotak Neo account on the app/web and go to the "IPO" section.
2. Select the IPO to review details such as the price band and issue size.
3. Tap "Apply for IPO", select your category, and enter lots and bid price or choose the cut-off option.
4. Enter your valid UPI ID or choose ASBA to block funds in your linked bank account.
5. Submit the application and approve the mandate request sent to your UPI app to block funds.