Shares of Sahajanand Medical Technologies made their debut on BSE and NSE today (Friday), following the strong investor response during the three-day subscription period. The ₹475.48 crore IPO was subscribed 14.21 times by the close of bidding on October 19, with the issue receiving bids for 13,84,72,771 shares against 97,50,482 shares on offer. According to CNBC TV18, the retail investor portion was subscribed 3.03 times, while the non-institutional investor (NII) segment saw 14.64 times subscription, and the qualified institutional buyer (QIB) portion was subscribed 34.70 times. The company's shares debuted at ₹371.15 on NSE, representing a 7.89% premium over the upper price band of ₹344. On BSE, the stock debuted at ₹368.05, marking a 6.99% gain over the issue price. The shares are scheduled to list on BSE and NSE today (Friday), with the issue opening on October 15, 2026 and closing on October 19, 2026. Following the listing, the company's market capitalisation stood at around ₹3,741.11 crore.
The IPO is commanding a ₹17 grey market premium (GMP) ahead of its debut, indicating expectations of modest listing gains in the unofficial market. As reported by CNBC TV18, the grey market premium has shown some improvement from the ₹17 GMP recorded on October 19, suggesting more measured listing expectations. However, the listing performance exceeded grey market expectations, with the shares listing at a 7.89% premium compared to the estimated 5% gain indicated by grey market premiums. The GMP is an unofficial indicator of investor sentiment and does not guarantee listing gains. The premium reflects strong institutional confidence ahead of the allotment announcement, with the grey market premium showing improvement from the ₹17 GMP recorded on October 19. Latest updates show the shares are trading in unlisted markets at a grey market premium of ₹17, suggesting a likely listing price of ₹361 based on the upper end of the price band, which would translate to gains of 4.94% per share. However, the actual listing price of ₹371.15 represents a 7.89% premium over the upper price band, demonstrating strong market demand.
Ahead of the issue opening, the company mobilised ₹140.06 crore through anchor investors by allotting 40.71 lakh equity shares at ₹344 apiece on October 14 at the upper end of the price band. Of the total anchor allocation, 30.25 lakh shares, worth approximately ₹104 crore, were allotted to five domestic mutual fund houses: Nippon Life India, DSP Mutual Fund, WhiteOak Capital, Invesco India, and UTI AMC through seven schemes. Other participants included Allianz Global Investors Fund, Tata AIA Life Insurance Company, and Natixis International Funds. The anchor book was conducted entirely at the upper price band, demonstrating strong institutional confidence in the issue. The latest data shows 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 is acting as the registrar.
The medical technology company aims to raise ₹475.48 crore through the public issue, which comprises an offer for sale (OFS) of 1.38 crore shares. According to CNBC TV18, the IPO is entirely an OFS, meaning the company will not receive any proceeds from the offering. The funds will go to the existing shareholders selling their stakes. The issue is priced at ₹327–344 per share with an IPO lot size of 43 shares, translating to a minimum investment of ₹14,792 for retail investors applying at the upper end of the price band. At the upper end of the price band, Sahajanand Medical Technologies is targeting a post-issue market capitalisation of around ₹3,497 crore. The overall IPO secured a robust response from the full set of investors during the issue, with the QIB category being oversubscribed by 34x after receiving bids for 9.4 crore shares against 27 lakh shares offered for the category.
Revenue from operations rose to ₹1,210.50 crore in FY26 from ₹1,024.88 crore in FY25 and ₹901.60 crore in FY24. As reported by CNBC TV18, 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. The company had 1,605 full-time employees, 31 consultants and 707 contract workers as of June 30, 2026. Sahajanand Medical Technologies develops Class III and Class C/D medical devices, primarily focusing on vascular intervention products including coronary stents and coronary balloons, and structural heart products including transcatheter aortic valve implantation devices and occluders. According to SBI Securities, the company reported a net loss of ₹12.8 crore in FY24 before returning to profitability in FY25, with net profit rising to ₹65.3 crore in FY26.
