Sahajanand Medical Technologies IPO: Date, Price, Allotment, GMP & Review | Finowings

Sahajanand Medical Technologies IPO- Complete Overview

Sahajanand Medical Technologies IPO is a Mainboard IPO with an issue size of Rs. 475.48 Cr Shares by Sahajanand Medical Technologies Limited, which 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.

This new IPO is to be launched on 15 October 2026, and its ‘initial public offering’ will end on 19 October 2026.

Sahajanand Medical Technologies IPO Details

This Mainline IPO comprises a wholly an offer for sale of 1.38 Cr shares. The Sahajanand Medical Technologies IPO listing date (expected) might be Friday, Oct 23, 2026, and the listing on the BSE and NSE. 

The Sahajanand Medical Technologies IPO price band is Rs. 327 to Rs. 344.

IPO Timetable (Tentative)

The Sahajanand Medical Technologies IPO date is from Oct 15 to Oct 19, with IPO allotment on Oct 21, refund initiation on Oct 22, and listing on Oct 23, 2026.

If you want to apply for the IPO, click to open a Demat Account.

Industry Overview & Outlook

The Indian Medical Device market is estimated to reach USD 50.1 Bn by 2030 at a growth rate of 26.9% from its estimated value of USD 15.2 Bn in 2025.

Sahajanand Medical Technologies Company Financial Performance

Sahajanand Medical Technologies- Profit & Loss

(Amount in Cr)

Sahajanand Medical Technologies- Balance Sheet

(Amount in Cr)

Cash Flows

The cash flows for various activities are shown below:

(Amount in Mn)

Sahajanand Medical Technologies IPO- Business Model

Sahajanand Medical Technologies is a technology-enabled Customer Experience (CX) and Business Process Outsourcing (BPO) company. It provides end-to-end customer engagement and support services across multiple channels (voice, email, chat, social media, messaging) along with AI Data Infrastructure services.

How the Company Makes Money

SMT is an R&D-driven Class III / Class C/D medical devices company focused on cardiovascular implants and interventional devices. It designs, develops, manufactures, and sells technologically advanced products primarily in two core verticals, with some additional products.

Core Product Verticals

• Vascular Intervention (VI) – The largest revenue contributor
• Drug-Eluting Stents (DES) – Flagship product: Supraflex Cruz (biodegradable polymer DES, positioned as highly deliverable)
• PTCA Balloon Dilatation Catheters (Pipit SC and Pipit NC)
• Coronary Drug-Coated Balloons (Sironity – sirolimus-coated).

Structural Heart (SH)

• Transcatheter Aortic Valve Implantation (TAVI) – Hydra
• Occluders – Cocoon (platinum-coated for better biocompatibility).

Others

Own-brand renal stents (Renofit), peripheral Drug-Coated Balloons (Peripherics), and traded goods.

The company sells its products in 77 countries (including India) as of Fiscal 2026 through a flexible go-to-market model:-

• Direct operations in key markets (e.g., Germany, Spain, France, UK)
• Hybrid model (mix of direct + distributors) in several markets including India
• Distributor-led model in other geographies.
  
  

Revenue Bifurcation

(Source: RHP)

Company Growth Trajectory

The Objective of the Issue

The offer is 100% OFS; hence, the company shall not receive any proceeds from the issue.

Peers of Sahajanand Medical Technologies

Evaluation of P/E Ratio

Considering the period ended on FY 2026 with an EPS of Rs. 6.67 from the last year, the resulting P/E ratio is 51.57x. 

Sahajanand Medical Technologies IPO Valuation

IPO's Strengths

• Extensive global sales and marketing network.
• Strong research and development capabilities.
• Diversified and integrated manufacturing facilities.
• Leadership in India and key international markets.

IPO's Weaknesses

• The company faces strict regulations in many countries, including the EU Medical Device Regulation and India's Drugs and Cosmetics Act. Any unfavorable regulatory action to preserve certifications could negatively impact the company's capacity to market products. 
• Risks to the company's three manufacturing facilities include underutilized capacity, outdated machinery, operational disruptions, and quality control issues.
• The corporation depends on a small number of suppliers, with the top 10 contributing 63.61%, 59.15%, 64.37%, and 58.88% of total purchases in the three months ending June 30, 2026, and in Fiscal 2026, 2025, and 2024, respectively.
  
  

Sahajanand Medical Technologies IPO GMP Today

Sahajanand Medical Technologies IPO GMP is Rs. 40 as of October 12, 2026, when this information was written. 

IPO Other Details

IPO Grey Market Premium

The current IPO GMP is available at our live IPO GMP page, where you can get the GMP today for open Mainboard and SME IPOs.

Sahajanand Medical Technologies IPO Lot Size

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (43 Shares) amounting to Rs. 14792 and 13 Lots (559 Shares) for Rs. 1,92,296 respectively, while for HNI investors, the minimum Lot is 14 (602 Shares) amounting to Rs. 2,07,088.

Sahajanand Medical Technologies IPO Reservation

Promoters and Management of Sahajanand Medical Technologies Ltd. 

• Bhargav Dhirajlal Kotadia
• Dhirajlal Vallabhbhai Kotadia
• Priyanka Dhirajlal Cohen 
• Shree Hari Trust

IPO Lead Managers

Motilal Oswal Investment Advisors Ltd. 

Dividend Policy

The company has not paid a dividend during the last three FYs.

IPO Review: Subscribe or Avoid?

Sahajanand Medical Technologies IPO (Mainboard) is a pure Offer for Sale of up to 1.38 crore shares aggregating ₹475.48 Cr at a price band of ₹327–₹344. The issue opens on 15 October and closes on 19 October 2026, with expected listing on BSE and NSE on 23 October. 

The company is an R&D-focused medical devices player specialising in vascular intervention (stents, balloons) and structural heart products (TAVI, occluders), with flagship brands Supraflex Cruz, Hydra and Cocoon. It has manufacturing facilities in India and Thailand and markets products in 77 countries. 

In FY26, it reported revenue of ₹1,210 Cr, EBITDA margin of 14.10% and PAT margin of 5.71%. Promoter holding will reduce from 40.82% to about 36.2% post-issue. Current GMP is around ₹40.  

Before making any decision to subscribe or avoid, you should consult your SEBI-registered financial advisor. 

Sahajanand Medical Technologies IPO News

Sahajanand Medical Technologies DRHP

Sahajanand Medical Technologies RHP

Sahajanand Medical Technologies IPO Allotment Status

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Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.