Sahajanand Medical Technologies has priced its entirely offer-for-sale IPO at Rs 327 to Rs 344 a share, as the cardiovascular-device maker reports a sharp rise in annual profit.
Sahajanand Medical Technologies has set the price band for its initial public offering at Rs 327 to Rs 344 a share, with the issue scheduled to open on Thursday, October 15, 2026, and close on Monday, October 19, 2026. The Gujarat-based medtech company is offering an entirely secondary sale, meaning existing shareholders are the ones selling stock rather than the business raising fresh capital. The offer size is about Rs 475.48 crore, according to reports from Moneycontrol and the Economic Times.
The IPO comprises up to 13,822,116 equity shares, including a small reservation of as many as 250,000 shares for employees. Investors will be able to apply for a minimum of 43 shares and then in multiples of 43, a structure that places the minimum application amount at Rs 14,792 at the top end of the price band. Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities and Capital Markets India and Nuvama Wealth Management are acting as book-running lead managers, while MUFG Intime India is the registrar, according to the company’s prospectus summary.
Sahajanand Medical Technologies, which began as a partnership in 1999 before becoming a company in 2001, makes advanced cardiovascular devices spanning vascular intervention and structural heart care. Its product range includes coronary stents and balloons, transcatheter aortic valve implantation products and occluders, alongside other devices such as renal stents and peripheral drug-coated balloons. The company says it was the first in the world to receive CE certification for a drug-eluting stent using a biodegradable polymer-based paclitaxel-eluting platform, and it has built a broader franchise in medical devices used in heart procedures.
According to the prospectus material and Frost & Sullivan research cited there, Sahajanand holds a market share of nearly 25% in India’s drug-eluting stent market and ranks among the top five players in several overseas markets, including Germany, Spain, Poland and Brazil. It also has a strong position in occluders in Thailand, South Korea and India. The company reported revenue from operations of Rs 12,105.04 million in FY26, up from Rs 10,248.79 million a year earlier, while profit after tax rose to Rs 690.82 million from Rs 251.52 million. In the three months to June 30, 2026, revenue was Rs 3,516.69 million and profit after tax was Rs 150.87 million, suggesting the business entered the IPO window with improving profitability.
Its research base is a key part of the investment case. As of June 30, 2026, the company had two R&D centres in India and Thailand and a team of 156 professionals. The prospectus says it has 119 patents granted globally, 78 patent applications pending and five design registrations in India. It also points to 75 clinical studies supporting products such as Supraflex Cruz, Hydra, Sironity Drug-coated PTCA Balloon, Pipit and Cocoon, with some trial results published in journals including The Lancet and the New England Journal of Medicine. The shares are expected to list on the NSE and BSE after the issue closes, with some market reports pointing to an October 22 or October 23 listing date.
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