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Sahajanand Medical Technologies IPO
Price Band
₹327.0–344.0
Issue Size
₹475.48 Cr
Lot Size
43 shares
Min Investment
₹14,792
GMP
+₹17.0 (4.94%)
Issue Price
₹344.0
Subject to Sauda
₹600
Paid only if allotted
Sahajanand Medical Technologies IPO AI Summary
- Sahajanand Medical Technologies IPO is listed on BSE, NSE in the Hospital sector.
- Price band: ₹327.0–₹344.0 per share, lot size 43 shares (min. investment ₹14,792).
- Subscription window: 15 Oct–19 Oct 2026, listing on 23 Oct 2026.
- Current GMP is +₹17.0 (4.94%), an estimated listing price of ₹361 — unofficial and can change daily.
Sahajanand Medical Technologies Ltd. is entering the market with a focus on medical devices for vascular and structural heart interventions. The IPO has garnered significant interest from institutional and retail investors, reflecting confidence in the company's growth potential despite recent declines in revenue and profit figures.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Sahajanand Medical Technologies IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 19 Oct 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
14.21x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
34.70x
|
35x ✓ |
| NII (HNI) |
14.64x
|
15x ✓ |
| ↳ bNII (>₹10L) |
16.37x
|
16x ✓ |
| ↳ sNII (<₹10L) |
11.19x
|
11x ✓ |
| Retail (RII) |
3.04x
|
3.04x |
| Employee |
0.37x
|
0.37x |
| Total | 14.21x | 14.21x |
Auto-updated every 5 min · As of 19th Oct 2026 17:56
Sahajanand Medical Technologies IPO Grey Market Premium (GMP) Today
GMP
+₹17.0
GMP %
+4.94%
Est. Listing
₹361.0
Updated: 23 Oct 2026 06:00
GMP Trend (Last 11 Days)
About the Company
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—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&D centers—one in India and one in Thailand—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 “House of Brand” 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.
Company Financials (₹ Cr)
As of 2026-06-30
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 1,309.00 | 1,276.43 | 1,094.90 | 970.58 |
| Total Income | 354.33 | 1,218.73 | 1,035.96 | 908.59 |
| Profit After Tax | 15.09 | 69.08 | 25.15 | -7.35 |
| EBITDA | 48.58 | 170.66 | 128.02 | 110.05 |
| NET Worth | 631.72 | 616.05 | 545.23 | 526.30 |
| Reserves and Surplus | 706.86 | 692.48 | 580.71 | 556.57 |
| Total Borrowing | 320.63 | 269.53 | 224.96 | 175.27 |
Key Ratios
EPS
₹6.80
NAV
₹62.76
ROE
10.35%
ROCE
11.57%
RoNW
10.60%
P/B Value
5.48
P/E Ratio
50.59
Market Cap
₹3496.65 Cr
PAT Margin
5.71%
Debt/Equity
0.27
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Laxmi Dental | 44.27 | 11.91% | 36.35 | 5.27 | 5.26 |
| Poly Medicure | 306.4 | 10.37% | 51.4 | 31.79 | 31.75 |
| Sahajanand Medical This IPO | 62.76 | 10.6% | — | 6.67 | 6.48 |
Promoters
Bhargav Dhirajlal Kotadia, Dhirajlal Vallabhbhai Kotadia, Priyanka Dhirajlal Cohen, Shree Hari Trust
IPO Evaluation
Generated 24 Oct 2026Revenue Trend
For the period ending June 30, 2026, total income was ₹354.33 Cr, a significant decrease from ₹1,218.73 Cr for the year ending March 31, 2026. This decline is notable as the June figure is a 9-month figure, not a full year, so isn't directly comparable. Prior to that, total income was ₹1,035.96 Cr for the year ending March 31, 2025, indicating a downward trend in revenue in the most recent period.
Profit Trend
Profit after tax for the period ending June 30, 2026, was ₹15.09 Cr, a sharp decline from ₹69.08 Cr for the year ending March 31, 2026. This is again a 9-month figure and cannot be directly compared to the full-year figure. In the previous year, March 31, 2025, profit after tax was ₹25.15 Cr, showing a decrease in profitability in the latest reported period.
Valuation
Sahajanand Medical Technologies has an EPS of ₹6.80 and a P/E ratio of 50.59 at the issue price. Comparatively, its peers have P/E ratios ranging from 36.35 to 51.4. This places Sahajanand's implied P/E at roughly 50.59 trailing earnings, versus peers trading at 36.35-51.4.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before it officially lists. A positive GMP suggests that the stock may list at a higher price than the issue price, while a negative GMP indicates the opposite.
Subscription Demand
As of October 19, 2026, the IPO has received strong interest, with a total subscription of 14.21 times. The institutional segment saw the highest demand, with Qualified Institutional Buyers (QIBs) subscribing 34.7 times the shares offered. Non-Institutional Investors (NIIs) and Retail Investors also showed significant interest, subscribing 14.64 times and 3.04 times, respectively.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's essential to consider the company's financial health, market position, and growth potential.
Who May Want to Wait
Those who prefer stable investments with lower risk or who are not comfortable with the inherent uncertainties of the IPO market may want to avoid investing in this IPO.
IPO Timeline, Explained
The IPO opens for subscription on October 15, 2026, and closes on October 19, 2026. Allotment of shares will be finalized by October 21, 2026, with the listing expected on October 23, 2026.
Listing Gains — The Risk
Listing gains can vary widely and are influenced by market conditions, investor sentiment, and the company's performance. While a positive GMP may suggest potential gains, there are no guarantees, and investors should be prepared for the possibility of losses.
This evaluation is generated from Sahajanand Medical Technologies's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Sahajanand Medical Technologies IPO GMP today?
Sahajanand Medical Technologies IPO GMP today is +₹17.0 (4.94%), indicating an estimated listing price of ₹361. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Sahajanand Medical Technologies IPO?
The price band of Sahajanand Medical Technologies IPO is ₹327.0–₹344.0 per share.
When does Sahajanand Medical Technologies IPO open and close?
Sahajanand Medical Technologies IPO opens on 15 October 2026 and closes on 19 October 2026.
When does Sahajanand Medical Technologies IPO list on the stock exchange?
Sahajanand Medical Technologies IPO listed on 23 October 2026 at ₹361.0.
What is the lot size for Sahajanand Medical Technologies IPO?
The lot size for Sahajanand Medical Technologies IPO is 43 shares, requiring a minimum investment of ₹14,792.
What is the price band for the Sahajanand Medical Technologies IPO?
The price band for the IPO is ₹327.0 to ₹344.0.
What is the minimum investment required?
The minimum investment required is ₹14,792.
What is the lot size for the IPO?
The lot size for the IPO is 43 shares.
When is the listing date for the IPO?
The listing date for the IPO is October 23, 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
15 Oct 2026
Close
19 Oct 2026
Allotment
21 Oct 2026
Listing
23 Oct 2026
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