Sahajanand Medical Technologies IPO

The Sahajanand Medical Technologies mainboard IPO opens for subscription on 15 Oct 2026 and closes on 19 Oct 2026, offered at an issue price of ₹344 per share, and is set to list on NSE and BSE. In total, the issue aims to mobilise ₹475.48 crore. Retail investors bid in lots of 43 shares.

Financials

In FY2026, Sahajanand Medical Technologies reported revenue of ₹354.33 crore and a net profit of ₹15.09 crore. Revenue declined from ₹908.59 crore in FY2024 to ₹354.33 crore in FY2026 (-61.0%). Net worth stood at ₹631.72 crore at the end of FY2026. At the upper band, that puts the issue at roughly 50.6× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Peer comparison

The offer document names listed peers including Laxmi Dental and Poly Medicure, with a median peer P/E of about 43.9×.

Promoters

The promoters of the company are <p>Bhargav Dhirajlal Kotadia, Dhirajlal Vallabhbhai Kotadia, Priyanka Dhirajlal Cohen, Shree Hari Trust</p>. Promoter holding stands at 40.82% before the issue and comes down to 35.51% after listing.

Grey market premium (GMP)

In the unofficial grey market, Sahajanand Medical Technologies shares are quoted at a premium of ₹40 implying an expected listing around ₹384, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

What to weigh

When evaluating the Sahajanand Medical Technologies IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Sahajanand Medical Technologies

Founded in 2001 by Mr. Dhirajlal Kotadia, Sahajanand Medical Technologies Ltd. is a medical device company focused on Class III and Class C/D devices, primarily in the fields of vascular and structural heart intervention. The company was the first globally to receive CE certification for a drug-eluting stent (DES) with a biodegradable polymer&mdash;Infinnium. The product portfolio spans three key categories: Vascular Intervention (VI): Includes coronary stents and balloons for minimally invasive blood vessel treatments. Structural Heart (SH): Covers advanced technologies such as Transcatheter Aortic Valve Implantation (TAVI) and Occluders. Other Products: Includes renal stents, peripheral Drug-Coated Balloons (DCBs), and selected trading products. Sahajanand operates two R&amp;D centers&mdash;one in India and one in Thailand&mdash;supported by a team of 102 professionals, including biomedical engineers and clinical research specialists. The company has built a robust intellectual property base, with 102 patents granted globally and 71 pending patent applications, along with five design registrations in India. Key products such as Supraflex Cruz (DES) , Hydra (TAVI) , and Cocoon (Occluders) are backed by 72 clinical studies, and are widely accepted in over 76 countries across Europe, Asia, and other regions. The global distribution strategy includes direct operations in key European markets (Germany, Spain, France, UK), hybrid models in India (serving hospitals like Narayana Hrudayalaya Limited), and distributor-led entry in markets such as Italy. International market adoption is reinforced by endorsements from key opinion leaders (KOLs), successful government tenders, and partnerships with major Group Purchasing Organizations (GPOs) in Europe. The company follows a &ldquo;House of Brand&rdquo; strategy, developing and commercializing clinically differentiated products under recognized brand names like Supraflex Cruz, Hydra, and Cocoon. As of March 31, 2025, Sahajanand Medical Technologies employed 1,458 full-time staff, 24 consultants, and 818 contract-based personnel across its operations.