Sahajanand Medical Technologies (SMT) Limited has filed its Draft Red Herring Prospectus ( DRHP) with capital markets regulator, Securities and Exchange Board of India (Sebi) to raise funds via an Initial Public Offering ( IPO) route.
The IPO, with a face value of Re 1, is entirely an offer-for-sale (OFS) up to 27,644,231 equity shares by promoters, and investor selling shareholders. The offer also includes a subscription reservation with a discount to eligible employees in the employee reservation portion.
Samara Capital Markets Holding Limited, Kotak Pre-IPO Opportunities Fund, Plutus Wealth Management LLP, and Ashish Kacholia are the major shareholders in the company.
In the OFS, Shree Hari Trust will offload up to 2,700,000 equity shares by Dhirajkumar Savjibhai Vasoya, up to 12,958,126 equity shares by Samara Capital Markets Holding Limited, up to 2,615,750 equity shares by Kotak Pre-IPO Opportunities Fund, and up to 6,670,355 equity shares by NHPEA Sparkle Holding B.V.
The Offer is being made through the book-building process, wherein not more than 50% of the offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the offer is assigned to non-institutional and retail individual bidders respectively.
Sahajanand Medical Technologies
Sahajanand Medical Technologies is a Class III and Class C/D medical devices company with a portfolio of technologically advanced medical devices across vascular and structural heart intervention.
Sahajanand Medical Technologies was founded by Dhirajlal Kotadia in the year 2001 and over the years, it has introduced several innovative products, driven by its focus on research and development and precision manufacturing capabilities enabling it to deliver quality products backed by clinical data, with a presence across 76 countries, as of March 31, 2025.
Its portfolio consists of VI products including coronary intervention products such as coronary stents and coronary balloons, SH products includes Trans-Catheter Aortic Valves and Occluders, and other products including its own brand of renal stents, peripheral drug coated balloons and other trading products.
According to the F&S Report, it is a leading market share in the drug eluting stent (DES) market in India, with a market share of nearly 25.00% in CY 2025 of the total DES sales volume in India.
SMT financial
SMT Limited's revenue from operations increased by 13.67% to Rs 1,024.88 crore in Fiscal 2025 from Rs 901.60 crore in Fiscal 2024 primarily due to an increase in the sale of devices driven by higher sales in Europe and the rest of the world, primarily led by the structural heart vertical. Profit for the year stood at Rs 25.15 crore in Fiscal 2025 compared to a loss after tax of Rs 7.35 crore in Fiscal 2024.
Lead managers
Motilal Oswal Investment Advisors Limited, Avendus Capital Private Limited, HSBC Securities and Capital Markets (India) Private Limited and Nuvama Wealth Management Limited are the book-running lead managers and MUFG Intime India Private Limited is the registrar of the issue.
The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.
Also Read: SaaS unicorn Amagi Media Labs files DRHP with Sebi, to raise Rs 1,020 crore from fresh issue
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
The IPO, with a face value of Re 1, is entirely an offer-for-sale (OFS) up to 27,644,231 equity shares by promoters, and investor selling shareholders. The offer also includes a subscription reservation with a discount to eligible employees in the employee reservation portion.
Samara Capital Markets Holding Limited, Kotak Pre-IPO Opportunities Fund, Plutus Wealth Management LLP, and Ashish Kacholia are the major shareholders in the company.
In the OFS, Shree Hari Trust will offload up to 2,700,000 equity shares by Dhirajkumar Savjibhai Vasoya, up to 12,958,126 equity shares by Samara Capital Markets Holding Limited, up to 2,615,750 equity shares by Kotak Pre-IPO Opportunities Fund, and up to 6,670,355 equity shares by NHPEA Sparkle Holding B.V.
The Offer is being made through the book-building process, wherein not more than 50% of the offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the offer is assigned to non-institutional and retail individual bidders respectively.
Sahajanand Medical Technologies
Sahajanand Medical Technologies is a Class III and Class C/D medical devices company with a portfolio of technologically advanced medical devices across vascular and structural heart intervention.
Sahajanand Medical Technologies was founded by Dhirajlal Kotadia in the year 2001 and over the years, it has introduced several innovative products, driven by its focus on research and development and precision manufacturing capabilities enabling it to deliver quality products backed by clinical data, with a presence across 76 countries, as of March 31, 2025.
Its portfolio consists of VI products including coronary intervention products such as coronary stents and coronary balloons, SH products includes Trans-Catheter Aortic Valves and Occluders, and other products including its own brand of renal stents, peripheral drug coated balloons and other trading products.
According to the F&S Report, it is a leading market share in the drug eluting stent (DES) market in India, with a market share of nearly 25.00% in CY 2025 of the total DES sales volume in India.
SMT financial
SMT Limited's revenue from operations increased by 13.67% to Rs 1,024.88 crore in Fiscal 2025 from Rs 901.60 crore in Fiscal 2024 primarily due to an increase in the sale of devices driven by higher sales in Europe and the rest of the world, primarily led by the structural heart vertical. Profit for the year stood at Rs 25.15 crore in Fiscal 2025 compared to a loss after tax of Rs 7.35 crore in Fiscal 2024.
Lead managers
Motilal Oswal Investment Advisors Limited, Avendus Capital Private Limited, HSBC Securities and Capital Markets (India) Private Limited and Nuvama Wealth Management Limited are the book-running lead managers and MUFG Intime India Private Limited is the registrar of the issue.
The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.
Also Read: SaaS unicorn Amagi Media Labs files DRHP with Sebi, to raise Rs 1,020 crore from fresh issue
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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