Sahajanand Medical Technologies IPO Day 2: Check GMP, subscription status and key details

ETMarkets.com

On Day 1, the IPO was subscribed 34% overall against the 97.50 lakh shares on offer. The retail individual investor (RII) category saw 40% subscription against the 47.50 lakh shares reserved for retail investors.

The medical technology company aims to raise Rs 475.48 crore through the IPO, which comprises an offer for sale (OFS) of 1.38 crore shares. Since the issue is entirely an OFS, the company will not receive any proceeds from the offering, with the funds going to the selling shareholders.

Sahajanand Medical Technologies has fixed the IPO price band at Rs 327-344 per share. The issue will close on October 19, 2026, while the basis of allotment is expected to be finalised on October 21. The shares are tentatively scheduled to list on the BSE and NSE on October 23.

The IPO lot size is 43 shares, translating into a minimum investment of Rs 14,792 for retail investors applying at the upper end of the price band.

Ahead of the public issue, Sahajanand Medical Technologies raised Rs 140 crore from anchor investors. The company allotted 40,71,634 equity shares at Rs 344 apiece, which is the upper end of the IPO price band.

Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities & Capital Markets (India) and Nuvama Wealth Management are the book-running lead managers for the issue, while MUFG Intime India has been appointed as the registrar.

Sahajanand Medical Technologies IPO Subscription Status

On Day 1, Sahajanand Medical Technologies' IPO was subscribed 34% overall against the 97.50 lakh shares on offer.

• The retail individual investor (RII) category was subscribed 40% against the 47.50 lakh shares reserved for retail investors.
• The non-institutional investor (NII) category saw 20% subscription against the 20.35 lakh shares on offer.
• The qualified institutional buyer (QIB) category was subscribed 37% against the 27.14 lakh shares reserved for this segment.

Sahajanand Medical Technologies IPO GMP Today

Sahajanand Medical Technologies' latest grey market premium (GMP) stands at Rs 41 per share, or around 12% above the upper end of the IPO price band of Rs 344. Based on the prevailing grey market premium, the estimated listing price is Rs 385 per share. However, GMP is an unofficial indicator and does not guarantee the actual listing price or returns.

Financial Performance

Sahajanand Medical Technologies Ltd.'s total income increased 18% to Rs 1,219 crore in FY26 from Rs 1,036 crore in FY25. Profit after tax (PAT) surged 175% to Rs 69 crore in FY26, compared with Rs 25 crore in the previous financial year.

About Sahajanand Medical Technologies Ltd.

Incorporated in October 2001, Sahajanand Medical Technologies Ltd. is a medical technology company engaged in developing, manufacturing and marketing advanced medical devices, primarily for vascular and structural heart interventions. Its product portfolio includes coronary stents, balloons, transcatheter aortic valve implantation (TAVI) devices, occluders, renal stents and peripheral drug-coated balloons. Its flagship brands include Supraflex Cruz, Cocoon and Hydra, supported by a focus on research, precision manufacturing and product innovation.

The company operates three manufacturing facilities across India and Thailand, along with two research and development centres. As of June 30, 2026, it held 119 patents globally, with 78 patent applications in the pipeline, and marketed its products in 77 countries in FY26. Revenue from operations rose to Rs 1,210.50 crore in FY26 from Rs 1,024.88 crore in FY25 and Rs 901.60 crore in FY24. As of June 30, 2026, the company had 1,605 full-time employees, 31 consultants and 707 contract workers.