Sahajanand Medical Technologies, a key player in the Indian medical devices space, has taken a major step toward its public listing. The company has filed its draft red herring prospectus with the Securities and Exchange Board of India, signaling the launch of its much-anticipated initial public offering. Founded in 2001 by Dhirajlal Kotadia, the company has built a strong reputation for manufacturing advanced medical devices focused on cardiovascular and structural heart interventions.
This IPO will be entirely an offer-for-sale comprising up to 2.76 crore equity shares. Prominent stakeholders including Shree Hari Trust, Dhirajkumar Savjibhai Vasoya, Samara Capital, Kotak Pre-IPO Opportunities Fund, and NHPEA Sparkle Holding BV are expected to divest part of their holdings through this issue. Specifically, Samara Capital plans to offload over 1.29 crore shares while NHPEA Sparkle Holding will sell approximately 66.7 lakh shares. Kotak’s pre-IPO fund is also expected to release 26.15 lakh shares into the offering. This move is primarily intended to allow early investors to unlock value rather than raise fresh capital for the company.
One of the distinctive features of this issue is the reserved quota for eligible employees. Sahajanand Medical Technologies has proposed a discount in the offer price for its workforce, reinforcing its commitment to internal stakeholders. The IPO will be conducted through a book-building process. According to the draft prospectus, fifty percent of the issue is reserved for qualified institutional buyers, at least fifteen percent for non-institutional investors, and a minimum of thirty five percent for retail investors.
The shares will be listed on both the National Stock Exchange and Bombay Stock Exchange once the IPO process concludes. The book-running lead managers for this issue include Motilal Oswal Investment Advisors, Avendus Capital Private Limited, HSBC Securities and Capital Markets India, and Nuvama Wealth Management. The registrar responsibilities will be managed by MUFG Intime India, which will handle the application and allotment process for subscribers.
The timing of this IPO comes as the company shows strong operational growth and financial recovery. In the financial year 2025, Sahajanand Medical Technologies posted revenue from operations of over ₹1,024 crore, reflecting a rise of 13.67 percent from the previous year’s ₹901 crore. This growth was largely driven by rising demand for its innovative medical devices in international markets, especially in Europe. The company also turned profitable during this period, reporting a net profit of ₹25 crore in FY25 after recording a net loss of ₹7 crore in FY24.
The strategic focus on expanding its global footprint, particularly in the structural heart segment, has helped the company improve its margins and overall performance. Its product portfolio includes stents, balloons, and other interventional devices used in procedures involving blocked arteries or heart defects. With rising awareness and demand for high-quality cardiac care both in India and abroad, Sahajanand Medical Technologies is well-positioned to benefit from this trend.
The involvement of respected investors like Ashish Kacholia, known for spotting multi-bagger opportunities, has further increased investor confidence ahead of the IPO. His stake signals a strong belief in the long-term potential of the company. Along with Samara Capital and other private equity players, this backing offers retail and institutional investors a rare opportunity to participate in a fast-growing and future-ready segment of the healthcare industry.
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