Sahajanand Medical Technologies IPO 2026: GMP, Price Band, Dates, Financials & Review

Sahajanand Medical Technologies IPO is a ₹475.48 crore book-built issue scheduled to open for subscription on October 15, 2026, and close on October 19, 2026. The IPO comprises entirely an offer for sale (OFS), meaning existing shareholders will sell their shares and the company will not receive proceeds from the issue. The price band is ₹327–₹344 per share, with a face value of ₹1 per equity share.

The minimum retail application is 43 shares, requiring an investment of ₹14,792 at the upper price band. The tentative listing date is October 23, 2026, on BSE and NSE.
Sahajanand Medical Technologies operates in the medical devices industry, focusing on vascular intervention and structural heart products, including drug-eluting stents, balloons and transcatheter heart valve technologies. Investors can assess the IPO by reviewing the company's financial performance, valuation, product portfolio, international presence and the risks associated with an entirely OFS issue.

Sahajanand Medical Technologies IPO Details

Sahajanand Medical Technologies IPO Timeline

These dates are tentative and may change. Investors should verify the final schedule in the official offer documents and exchange announcements.

Sahajanand Medical Technologies IPO GMP Today

As of October 12, 2026, the supplied grey market data reports a GMP of ₹40 per share. With the upper price band at ₹344, this implies an estimated listing price of ₹384 per share.

Estimated listing price calculation: ₹344 + ₹40 = ₹384 per share.
At the reported GMP, the estimated gain for one lot of 43 shares would be ₹1,720 before charges and taxes, if the shares listed at the implied price.
GMP disclaimer: Grey market premium is unofficial, unregulated and subject to change. It does not guarantee the listing price or returns. Investors should not make an investment decision based on GMP alone.

Sahajanand Medical Technologies IPO Subscription Status

The IPO is scheduled to open on October 15, 2026. Therefore, live subscription figures are not available yet as of October 12, 2026.
 

Subscription data should be checked during the bidding period using official BSE and NSE updates.

Sahajanand Medical Technologies IPO Day-wise Subscription Trend

The day-wise subscription trend will become available once the IPO opens.

The final subscription figures can help investors understand demand across retail, NII and QIB categories. However, subscription levels alone do not establish a company's long-term investment potential.

Sahajanand Medical Technologies IPO Current Subscription Data

Current status: Subscription not open yet.

The IPO is expected to accept applications from October 15 to October 19, 2026. Live subscription data, including category-wise demand and overall subscription, will need to be updated after bidding begins.

Sahajanand Medical Technologies IPO Lot Size

The minimum application is 43 shares, and applications must be made in multiples of the lot size. The following investment amounts are calculated using the upper price band of ₹344 per share.
 

Actual allotment depends on the final subscription and allotment process. The investment amount is not a guarantee of receiving shares.

Sahajanand Medical Technologies IPO Reservation

The final allocation and any applicable sub-categories should be confirmed from the company's RHP.

About Sahajanand Medical Technologies Limited

Founded in 2001 by Dhirajlal Kotadia, Sahajanand Medical Technologies Limited is a medical device company specialising in products used in vascular intervention and structural heart procedures. Its portfolio includes technologies designed to support minimally invasive cardiovascular treatments.

The company is known for its drug-eluting stent platform, Infinnium, which it describes as the first globally to receive CE certification for a drug-eluting stent using a biodegradable polymer. Its product portfolio includes coronary stents, balloons, transcatheter aortic valve implantation (TAVI) technologies and occluders.

Sahajanand follows a brand-led business strategy, developing and commercialising products under names such as Supraflex Cruz, Hydra and Cocoon. Its products are reported to be used in more than 76 countries, supported by clinical studies, distribution partners and commercial operations in international markets.

The company has two research and development centres, one in India and one in Thailand. Its reported intellectual property portfolio includes 102 granted patents globally, 71 pending patent applications and five design registrations in India.
As of March 31, 2025, the company reported 1,458 full-time employees, 24 consultants and 818 contract-based personnel.

Major Business Segments

1. Vascular Intervention (VI)

This segment includes coronary stents and balloons used in minimally invasive procedures to treat blood vessel conditions. These products form an important part of the company's cardiovascular device portfolio.

2. Structural Heart (SH)

This segment includes technologies such as transcatheter aortic valve implantation and occluders, which are used in specific structural heart procedures.

3. Other Products

The company also offers renal stents, peripheral drug-coated balloons and selected trading products.

Sahajanand's ability to develop differentiated products and expand internationally may support future growth. However, the medical device industry requires ongoing investment in research, regulatory compliance, clinical evidence and product development.

Sahajanand Medical Technologies IPO Objectives

The IPO is entirely an offer for sale. Therefore, the ₹475.48 crore issue represents the sale of existing shares rather than a fresh capital raise for the company.

Since there is no fresh issue, the company will not receive the OFS proceeds. The offering allows participating shareholders to sell part of their holdings and provides public-market access to the company's shares. Investors should review the RHP for the identity of the selling shareholders and the number of shares offered by each.

Sahajanand Medical Technologies Financial Performance

The company's restated consolidated financial information shows an improvement in annual revenue and profitability between FY2025 and FY2026. The figures below are in ₹ crore, except where otherwise indicated.

Note: June 30, 2026 figures cover a three-month period, while the FY figures represent full financial years. They should not be directly compared without accounting for the difference in reporting periods.

Revenue and Profitability Analysis

Total income increased from ₹1,035.96 crore in FY2025 to ₹1,218.73 crore in FY2026, representing growth of approximately 17.6%. Profit after tax rose from ₹25.15 crore to ₹69.08 crore, an increase of approximately 175%.

The company also reported positive EBITDA across the periods shown. However, total borrowings increased from ₹175.27 crore in FY2024 to ₹269.53 crore in FY2026. Investors should evaluate whether future operating cash flows can support debt servicing alongside ongoing investment in product development and international expansion.

The June 2026 quarter recorded total income of ₹354.33 crore and PAT of ₹15.09 crore. Quarterly figures can fluctuate due to product mix, expenses, demand and other operating factors, so a single quarter should not be treated as a full-year forecast.

Sahajanand Medical Technologies IPO Key Performance Indicators

The supplied source labels Debt/Equity as percentages. The values are reproduced here as reported numerically; confirm the correct units and presentation against the RHP before publication.

Sahajanand Medical Technologies IPO Valuation

The supplied valuation indicates a pre-IPO P/E of 50.59x and a post-IPO P/E of 57.91x. These figures suggest investors should carefully compare the company's valuation with its growth, margins, return ratios and industry peers.

Because the issue is entirely OFS, the company will not receive fresh capital from the offering. Investors should therefore focus on the existing business fundamentals, the reason for the sale by shareholders and the valuation implied by the final offer price.

Sahajanand Medical Technologies Promoter Holding

The supplied promoter details include Bhargav Dhirajlal Kotadia, Dhirajlal Vallabhbhai Kotadia, Priyanka Dhirajlal Cohen and Shree Hari Trust.

The reported promoter holding decreases after the IPO. Investors should review the RHP to understand the shareholding of individual promoters, the holdings of other selling shareholders and any applicable lock-in requirements.

Sahajanand Medical Technologies IPO Peer Comparison

The supplied peer data compares Sahajanand Medical Technologies with Laxmi Dental and Poly Medicure.

Competitive Strengths of Sahajanand Medical Technologies

• Specialisation in cardiovascular devices: The company focuses on vascular intervention and structural heart products, addressing specialised medical needs.
• Established product brands: Products such as Supraflex Cruz, Hydra and Cocoon support its brand-led commercial strategy.
• International market presence: Its products are reported to be used in more than 76 countries, providing exposure beyond the Indian market.
• Research and intellectual property: Two R&D centres, granted patents and pending applications indicate investment in product development and innovation.
• Improved annual profitability: FY2026 total income and PAT were higher than FY2025, based on the supplied financial data.

Risks Investors Should Consider

• Entirely OFS issue: The company will not receive proceeds from the IPO, as all shares in the issue are being offered by existing shareholders.
• Valuation risk: The reported post-IPO P/E of 57.91x requires investors to assess whether future growth and profitability can justify the valuation.
• Debt and financing requirements: Borrowings increased in the supplied annual financial figures, making debt servicing and cash flow important factors to monitor.
• Regulatory and clinical requirements: Medical device companies depend on product approvals, clinical evidence, quality standards and compliance across different markets.
• International market exposure: Overseas expansion can involve distribution challenges, currency movements, regulatory differences and varying reimbursement or procurement practices.
• Quarterly performance variation: The supplied June 2026 KPIs are lower than the FY2026 figures. Investors should review the reasons for the movement and the company's subsequent performance.

Should You Invest in Sahajanand Medical Technologies IPO?

Sahajanand Medical Technologies operates in a specialised medical device segment and has a portfolio spanning vascular intervention and structural heart products. Its international presence, R&D infrastructure and improved FY2026 financial performance may interest investors looking for exposure to medical technology.

However, the IPO is entirely an offer for sale, so the company will not receive fresh funds from the issue. The reported valuation, increasing borrowings and differences between annual and quarterly performance also warrant careful review.

Investors should assess the final offer documents, valuation, financial trends, promoter and selling-shareholder details, and industry risks before making a decision. The reported GMP of ₹40 is only an unofficial market indicator and should not be treated as a reliable forecast of listing returns.

As of October 12, 2026, the supplied grey market data reports a GMP of ₹40 per share. With the upper price band at ₹344, this implies an estimated listing price of ₹384 per share.

Sahajanand Medical Technologies IPO Allotment Status

The tentative basis-of-allotment date is October 21, 2026. Investors can check allotment information through the registrar's official IPO allotment service when the details become available.

The registrar listed for the issue is MUFG Intime India Pvt. Ltd. Applicants should keep their PAN, application details and other required information ready when checking their allotment status.

Sahajanand Medical Technologies IPO Registrar

• Registrar: MUFG Intime India Pvt. Ltd.
• Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
• Phone: 022-49186000
• Email: sahajanandmedical.ipo@in.mpms.mufg.com

The registrar handles the IPO application and allotment process, including the basis of allotment and related investor services.

Sahajanand Medical Technologies IPO Lead Managers

The book-running lead managers listed for the issue are:

• Motilal Oswal Investment Advisors Ltd.
• HSBC Securities & Capital Markets (India) Pvt. Ltd.
• Avendus Capital Pvt. Ltd.
• Nuvama Wealth Management Ltd.

Sahajanand Medical Technologies Company Details

Sahajanand Medical Technologies IPO Summary

Sahajanand Medical Technologies IPO is a ₹475.48 crore book-built issue scheduled for October 15–19, 2026, with a price band of ₹327–₹344 per share and a lot size of 43 shares. The issue consists entirely of an offer for sale, and the tentative listing date is October 23, 2026, on BSE and NSE.

The company operates in vascular intervention and structural heart medical devices and reported higher annual income and profit in FY2026 compared with FY2025. However, investors should consider its valuation, borrowings, quarterly performance and the implications of an OFS-only issue before applying.

As of October 12, 2026, the supplied grey market data reports a GMP of ₹40 per share. With the upper price band at ₹344, this implies an estimated listing price of ₹384 per share.

Frequently Asked Questions (FAQs)

1. When will Sahajanand Medical Technologies IPO open?

The IPO is scheduled to open on October 15, 2026, and close on October 19, 2026.

2. What is the price band of Sahajanand Medical Technologies IPO?

The price band is ₹327–₹344 per share.

3. What is the minimum investment required for Sahajanand Medical Technologies IPO?

The minimum retail application is one lot of 43 shares, requiring ₹14,792 at the upper price band of ₹344.

4. What is the total issue size of Sahajanand Medical Technologies IPO?

The total issue size is ₹475.48 crore, comprising an offer for sale. There is no fresh issue.

5. What is the latest GMP of Sahajanand Medical Technologies IPO?

The supplied data reports a GMP of ₹40 as of October 12, 2026. This implies an estimated listing price of ₹384 at the upper price band, but GMP is unofficial and does not guarantee listing performance.

6. What is the expected listing date of Sahajanand Medical Technologies IPO?

The tentative listing date is October 23, 2026, on BSE and NSE.

7. Who is the registrar of Sahajanand Medical Technologies IPO?

MUFG Intime India Pvt. Ltd. is the listed registrar for the IPO.

8. Will Sahajanand Medical Technologies receive funds from this IPO?

No. The supplied issue details indicate that the entire issue is an offer for sale. The proceeds will go to the selling shareholders, rather than being raised as fresh capital by the company.

Disclaimer: This article is for informational and educational purposes only and should not be considered investment advice. IPO dates, financial information, valuation figures and GMP may change or require confirmation from the final offer documents. Investors should conduct independent research and consult a qualified financial adviser if needed before making investment decisions.
 

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.