Sahajanand Medical Technologies Files Draft Papers for Fundraising IPO

Sahajanand Medical Technologies, backed by Ashish Kacholia, has filed its draft red herring prospectus for an IPO, with a face value of Re 1 and an offer-for-sale of up to 2.76 crore equity shares. The company specializes in advanced medical devices for vascular and heart interventions. The IPO will follow the book-building process, with up to 50% reserved for QIBs, at least 15% for NIIs, and a minimum of 35% for RIIs.

Sahajanand Medical Technologies (SMT), a leading Indian medical device company specializing in vascular and heart interventions, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The IPO, with a face value of Re 1, aims to raise funds through an offer-for-sale (OFS) of up to 2.76 crore equity shares by promoters and existing investors [1].

The IPO, which will follow the book-building process, will allocate up to 50% of the offer to qualified institutional buyers (QIBs), at least 15% to non-institutional investors (NIIs), and a minimum of 35% to retail individual investors (RIIs) [3]. Major shareholders, including Ashish Kacholia, Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund, and Plutus Wealth Management LLP, are participating in the OFS [1].

Key shareholders in the company include Shree Hari Trust, which will offload up to 27 lakh shares by Dhirajkumar Savjibhai Vasoya, Samara Capital Markets Holding Limited, which will sell around 1.29 crore shares, Kotak Pre-IPO Opportunities Fund, which plans to sell up to 26.15 lakh shares, and NHPEA Sparkle Holding BV, which will offload up to 66.7 lakh shares [1, 3].

SMT'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 driven by increased device sales, particularly in Europe and the rest of the world, led by the structural heart vertical [1, 3]. The company's 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 [1].

The equity shares will be listed on the National Stock Exchange of India Limited and BSE Limited. The book-running lead managers for the public issue are Motilal Oswal Investment Advisors Limited, Avendus Capital Private Limited, HSBC Securities and Capital Markets (India) Private Limited, and Nuvama Wealth Management Limited, with MUFG Intime India Private Limited as the registrar [1, 3].

References
[1] https://m.economictimes.com/markets/ipos/fpos/ashish-kacholia-and-samara-capital-backed-sahajanand-medical-technologies-files-drhp-for-ipo/articleshow/122921208.cms
[2] https://economictimes.indiatimes.com/markets/ipos/fpos/ashish-kacholia-and-samara-capital-backed-sahajanand-medical-technologies-files-drhp-for-ipo/articleshow/122921208.cms
[3] https://www.financialexpress.com/market/upcoming-ipo-ashish-kacholia-backed-sahajanand-medical-technologies-files-draft-papers-for-raising-funds-3927677/