Sahajanand Medical Technologies listing today; GMP at Rs 16

Sahajanand Medical Technologies is scheduled to begin trading on the BSE and NSE on Friday, October 23, 2026, following a Rs 475.48 crore initial public offering. Economic Times Markets reported a pre-debut grey market premium of Rs 16 per share, or roughly 5% over the issue’s upper price band of Rs 344.

That unofficial premium suggests an indicative price of Rs 360 per share—not an exchange-confirmed opening price. Grey market quotations can change before trading begins and do not assure investors of listing gains.

An offer for sale, not fresh funding

The IPO consisted entirely of an offer for sale of 1.38 crore shares. The proceeds go to shareholders selling their holdings, rather than to the company. The listing therefore does not itself provide fresh funds for manufacturing capacity, research or other business expenditure.

The subscription window ran from October 15 to October 19, with a price band of Rs 327–344 per share. A lot comprised 43 shares, requiring a retail application of Rs 14,792 at the upper end.

Before the public subscription window, the anchor allocation comprised 40,71,634 shares at Rs 344 each, amounting to approximately Rs 140 crore. That allocation should be read in the context of the IPO’s all-OFS structure, rather than as fresh capital raised for the business.

Institutional buyers led subscription demand

The offering attracted overall subscription of 14.21 times. Qualified institutional buyers subscribed their reserved portion 34.70 times, compared with 14.64 times for non-institutional investors and 3.04 times for retail investors.

Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities & Capital Markets (India) and Nuvama Wealth Management managed the issue. MUFG Intime India served as registrar.

FY26 income and profit increased

Reported total income reached Rs 1,219 crore in FY26, up 18% from Rs 1,036 crore in FY25. Profit after tax increased to Rs 69 crore from Rs 25 crore. These are historical financial results, not projections of post-listing performance.

Revenue from operations—a separate measure from total income—rose from Rs 901.60 crore in FY24 to Rs 1,024.88 crore in FY25 and Rs 1,210.50 crore in FY26.

Medical-device business with an international footprint

Incorporated in October 2001, Sahajanand develops, manufactures and markets devices primarily used in vascular and structural heart interventions. Its products include coronary stents, balloons, transcatheter aortic valve implantation devices, occluders, renal stents and peripheral drug-coated balloons. Its flagship brands include Supraflex Cruz, Cocoon and Hydra.

The company operates three manufacturing facilities across India and Thailand and two research and development centres. It marketed products in 77 countries during FY26. As of June 30, 2026, it held 119 patents globally and had 78 patent applications pending.

Its workforce at that date included 1,605 full-time employees, 31 consultants and 707 contract workers.