Sahajanand Medical Technologies Ltd. IPO

Founded in 2001 by Mr. Dhirajlal Kotadia, Sahajanand Medical Technologies Ltd. is a medical device company focused on Class III and Class C/D devices, primarily in the fields of vascular and structural heart intervention. The company was the first globally to receive CE certification for a drug-eluting stent (DES) with a biodegradable polymer—Infinnium.

The product portfolio spans three key categories:

  • Vascular Intervention (VI): Includes coronary stents and balloons for minimally invasive blood vessel treatments.
  • Structural Heart (SH): Covers advanced technologies such as Transcatheter Aortic Valve Implantation (TAVI) and Occluders.
  • Other Products: Includes renal stents, peripheral Drug-Coated Balloons (DCBs), and selected trading products.

Sahajanand operates two R&D centers—one in India and one in Thailand—supported by a team of 102 professionals, including biomedical engineers and clinical research specialists. The company has built a robust intellectual property base, with 102 patents granted globally and 71 pending patent applications, along with five design registrations in India.

Key products such as Supraflex Cruz (DES), Hydra (TAVI), and Cocoon (Occluders) are backed by 72 clinical studies, and are widely accepted in over 76 countries across Europe, Asia, and other regions. The global distribution strategy includes direct operations in key European markets (Germany, Spain, France, UK), hybrid models in India (serving hospitals like Narayana Hrudayalaya Limited), and distributor-led entry in markets such as Italy.

International market adoption is reinforced by endorsements from key opinion leaders (KOLs), successful government tenders, and partnerships with major Group Purchasing Organizations (GPOs) in Europe.

The company follows a “House of Brand” strategy, developing and commercializing clinically differentiated products under recognized brand names like Supraflex Cruz, Hydra, and Cocoon.

As of March 31, 2025, Sahajanand Medical Technologies employed 1,458 full-time staff, 24 consultants, and 818 contract-based personnel across its operations.

Company Financials (Restated Consolidated)

Sahajanand Medical Technologies Ltd.’s revenue increased by 18% and profit after tax (PAT) rose by 175% between the financial year ending with March 31, 2026 and March 31, 2025.

Period Ended30 Jun 202631 Mar 202631 Mar 202531 Mar 2024
Assets1,309.001,276.431,094.90970.58
Total Income354.331,218.731,035.96908.59
Profit After Tax15.0969.0825.15-7.35
EBITDA48.58170.66128.02110.05
NET Worth631.72616.05545.23526.30
Reserves and Surplus706.86692.48580.71556.57
Total Borrowing320.63269.53224.96175.27
Amount in ₹ Crore

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IPO Objects of the Issue

The Sahajanand Medical Technologies Ltd. IPO is a 100% Offer for Sale (OFS), so the company will not receive any funding and the entire IPO proceeds will go to the selling shareholders.

Key Performance Indicator (KPI)

KPIJun 30, 2026Mar 31, 2026
ROE2.07%10.35%
ROCE3.16%11.57%
Debt/Equity0.330.27
RoNW2.31%10.60%
PAT Margin4.29%5.71%
EBITDA Margin13.81%14.10%
NAV64.3562.76

IPO Valuation

Valuation MetricPre IPOPost IPO
EPS (₹)6.805.94

Sahajanand Medical IPO Details

IPO Date15 to 19 Oct, 2026
Listing DateFri, Oct 23, 2026T
Face Value₹1 per share
Price Band 
Sale TypeOFS only
Issue TypeBookbuilding IPO
Listing AtBSE, NSE
Total Issue Size2,76,44,231 shares
(agg. up to ₹[.] Cr)
Offer for Sale2,76,44,231 shares of ₹1
(agg. up to ₹[.] Cr)
Share Holding Pre Issue10,16,46,778 shares
Share Holding Post Issue10,16,46,778 shares

Sahajanand Medical Promoter Holding

The promoters of the company are Bhargav Dhirajlal Kotadia, Dhirajlal Vallabhbhai Kotadia, Priyanka Dhirajlal Cohen and Shree Hari Trust.

Share Holding Pre Issue35.51%
Share Holding Post Issue40.82%

SHARIAH SCREENING for - Sahajanand Medical Technologies Ltd. IPO

BUSINESS SCREEN

FINANCIAL RATIOS

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