Sahajanand Medical Technologies IPO: Price Band, Lot Size, Financials & Review
Sahajanand Medical Technologies IPO opens on Thu, 15 Oct 2026 and closes on Mon, 19 Oct 2026.
Last updated
- Price band
- Not announced
- Lot size
- —
- Min. investment
- —
- Issue size
- —
Sahajanand Medical Technologies IPO details
Sahajanand Medical Technologies IPO is a book-building IPO on the Mainboard segment, listing on BSE & NSE.
The issue opens on Thu, 15 Oct 2026 and closes on Mon, 19 Oct 2026. Allotment is expected on Wed, 21 Oct 2026 and listing on Fri, 23 Oct 2026.
MUFG Intime India Pvt Ltd is the registrar, and Avendus Capital Pvt.Ltd., Motilal Oswal Investment Advisors Ltd, Hsbc Securities & Capital Markets Pvt Ltd and Nuvama Wealth Management Limited are the book running lead managers.
Share reservation by category
| Category | Shares Details |
|---|---|
| Qualified Institutions | Not More Than 50% of the Net Issue |
| Retail Investors | Not Less Than 35% of the Net Issue |
| Non-Institutional | Not Less Than 15% of the Net Issue |
Issue structure and valuation
P/E is not meaningful here because earnings per share is zero or negative.
Listed peers with positive earnings trade at a median P/E of 43.88x (2 companies).
| EPS (pre-issue) Latest earnings per share before the issue | ₹0 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | — |
| EPS (post-issue) EPS on the enlarged share capital | ₹0 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | — |
| Promoter holding (pre-issue) | 40.82% |
| Promoter holding (post-issue) | 0.00% |
Sahajanand Medical Technologies Limited financials
Between 31 Mar 2024 and 30 June 2026, revenue fell from ₹908.59 Cr to ₹354.33 Cr, and profit after tax rose from -₹7.35 Cr to ₹15.08 Cr. The PAT margin for 30 June 2026 was 4.26%.
| Period ended | 30 June 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 1,308.99 | 1,276.43 | 1,094.90 | 970.58 |
| Revenue | 354.33 | 1,218.72 | 1,035.96 | 908.59 |
| Profit After Tax | 15.08 | 25.15 | 25.15 | -7.35 |
| Net Worth | 631.72 | 616.05 | 545.23 | 526.30 |
| Reserve & Surplus | 706.86 | 692.48 | 580.71 | 556.57 |
| Total Borrowings | 320.63 | 269.53 | 224.96 | 175.27 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | June 2026 | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|---|
| ROE % | 2.07 | 10.35 | 3.68 | -2.34 |
| ROCE % | 3.16 | 11.57 | 10.37 | 8.05 |
| Debt / Equity | 0.45 | 0.38 | 0.35 | 0.31 |
| RoNW % | 10.60 | 3.73 | -2.43 | 2.31 |
| Pat Margin % | 4.29 | 5.71 | 2.45 | 0.82 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Sahajanand Medical Technologies Ltd | 1 | — | 6.67 | 6.48 | 10.60% | 62.76 |
| Poly Medicure Ltd | 5 | 51.40 | 31.79 | 31.75 | 10.37% | 306.40 |
| Laxmi Dental Ltd | 2 | 36.35 | 5.27 | 5.26 | 11.91% | 44.27 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
| Sr | Objective |
|---|---|
| 1 | The company will not receive any proceeds from the Offer |
About Sahajanand Medical Technologies Limited
Sahajanand Medical Technologies Limited, founded in 2001 by Mr. Dhirajlal Kotadia, is a research and development-driven medical device company specialising in Class III and Class C/D medical devices for vascular intervention and structural heart intervention. Its product portfolio includes drug-eluting stents (DES), coronary balloon catheters, transcatheter aortic valve implantation (TAVI) devices, occluders, peripheral drug-coated balloons (DCBs) and renal stents, which are used in minimally invasive procedures to treat cardiovascular conditions.
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.
According to the F&S Report, the company was the first globally to receive CE certification for Infinnium, a biodegradable polymer-based paclitaxel-eluting drug-eluting stent. Its key product brands include Supraflex Cruz stents, Hydra TAVI devices and Cocoon occluders. The company held approximately 25% of the Indian drug-eluting stent market by sales volume in Fiscal 2026.
The company focuses on continuous innovation, product development and precision manufacturing to address evolving clinical requirements. As of June 30, 2026, it operated two research and development centres in India and Thailand, supported by 156 professionals, including consultants. Its intellectual property portfolio comprised 119 granted patents globally, 78 additional patent applications and five design registrations in India.
Sahajanand Medical Technologies operates three manufacturing facilities, including two in India and one in Thailand. In Fiscal 2026, it marketed its products in 77 countries, including India, through direct, hybrid and distributor-led sales models. Its clinical development programme was supported by 75 studies, comprising 66 completed and nine ongoing studies as of June 30, 2026. As of the same date, the company had 1,605 full-time employees, 31 consultants and 707 contract-based employees.
Promoters
- Bhargav Dhirajlal Kotadia
- Dhirajlal Vallabhbhai Kotadia
- Priyanka Dhirajlal Cohen
- Shree Hari Trust
Contact details
Sahajanand Medical Technologies Ltd.
Sahajanand Estate, Wakharia Wadi,
NR. Dabholi Char Rasta
Nani Ved, Ved Road
Surat, Gujarat, 395004
Phone: 022 49564000
Email: investors.grievance@smt.in
Website: https://www.smtpl.com/
Sahajanand Medical Technologies IPO FAQs
- When does Sahajanand Medical Technologies IPO open and close?
- Sahajanand Medical Technologies IPO opens on Thu, 15 Oct 2026 and closes on Mon, 19 Oct 2026.
- What is the Sahajanand Medical Technologies IPO allotment date?
- The Sahajanand Medical Technologies IPO basis of allotment is expected on Wed, 21 Oct 2026. You can check your allotment status on the MUFG Intime India Pvt Ltd website.
- What is the Sahajanand Medical Technologies IPO listing date?
- Sahajanand Medical Technologies IPO is expected to list on BSE & NSE on Fri, 23 Oct 2026.
- Who are the registrar and lead managers of the Sahajanand Medical Technologies IPO?
- The registrar for the Sahajanand Medical Technologies IPO is MUFG Intime India Pvt Ltd, and the book running lead managers are Avendus Capital Pvt.Ltd., Motilal Oswal Investment Advisors Ltd, Hsbc Securities & Capital Markets Pvt Ltd and Nuvama Wealth Management Limited.
- How to apply for the Sahajanand Medical Technologies IPO?
- Apply through your broker app or net banking using UPI or ASBA. Select the IPO, enter the number of lots and your bid (retail investors can bid at the cut-off price), and approve the UPI mandate before the issue closes on Mon, 19 Oct 2026.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.