Sahajanand Medical Technologies has set a price band of Rs 327–344 for its Rs 475.48 crore IPO opening on October 15, 2026. The issue is an offer for sale, meaning proceeds go to selling shareholders rather than the company. Investors should note strong recent profit growth alongside risks related to high debt and supply chain reliance.
IPO Structure and Offer Details
Sahajanand Medical Technologies, a manufacturer of cardiovascular devices including coronary stents and structural heart products like TAVI systems, is set to enter the public market. The company has announced a price band of Rs 327–344 per share for its initial public offering (IPO), which aims to raise Rs 475.48 crore. The subscription window for the issue will open on October 15, 2026, and close on October 19, 2026. An anchor book session for institutional investors is scheduled for October 14.
It is important for investors to note that this IPO is entirely an offer for sale (OFS). This means all money collected will go to existing shareholders—promoters and investors like Samara Capital Markets and Kotak Pre-IPO Opportunities Fund—rather than being injected into the company's own balance sheet. As a result, the company will not receive any capital from this public issue to fund expansion or pay down its existing debt.
Financial Performance and Growth
The company has demonstrated strong financial momentum recently. For the fiscal year ending March 2026, the company reported a net profit of Rs 69.08 crore, marking a significant increase from Rs 25.15 crore in the prior fiscal year. Annual revenue also rose, reaching Rs 1,210.5 crore. This growth trend continued into the current fiscal year, with the company reporting a profit of Rs 15.1 crore on revenue of Rs 351.6 crore for the quarter ended June 2026.
Key Risks to Consider
While the company has shown revenue and profit growth, there are verified risks that potential shareholders should weigh. A primary concern is the company’s debt profile. As of June 30, 2026, Sahajanand Medical Technologies held Rs 320.63 crore in total borrowings. Of this amount, roughly 79% is classified as current debt, which implies it is due for repayment or refinancing in the near term, potentially creating liquidity pressure.
Operational risks also exist, as the company relies on three manufacturing facilities. Any disruptions, quality control failures, or under-utilization of these sites could impact production and revenue. Furthermore, the company faces supply chain concentration risk. The top 10 suppliers account for over 50% of the company's total purchases, meaning a supply shortage from any of these partners could hinder the manufacturing process.
Investor Participation
Retail investors planning to bid for the IPO will need to apply for a minimum lot of 43 shares, which translates to an entry-level investment of Rs 14,792 at the upper price band of Rs 344. The quota for allocation is divided with 50 percent reserved for qualified institutional buyers, 15 percent for non-institutional investors, and 35 percent for retail participants. Following the close of the bid period, the final allotment of shares is expected on October 21, with trading scheduled to commence on major stock exchanges on October 23, 2026.