Shares of Sahajanand Medical Technologies were priced at ₹371.15 on the NSE and ₹368.05 on the BSE, a 7.89% and 6.99% premium respectively to the ₹344 IPO price—grey‑market trading showed a 5% premium on the day of listing.
The ₹475.48‑crore issue, comprised of 97.5 lakh shares, attracted 13,84,72,771 bids, translating into a 14.20‑fold subscription; QIBs led the demand with 34.70×, followed by non‑institutional investors at 14.64× and retail at 3.03×.
Sahajanand specialises in Class III and Class C/D medical devices, focusing on vascular intervention and structural heart treatments. Its product line includes coronary intervention devices, transcatheter aortic valve implantation tools, occluders, renal stents, peripheral drug‑coated balloons, and trading products, while the company warns of raw‑material, technology, and regulatory risks.
Financially, the company posted a FY24 net loss of ₹12.8 crore, turned profitable in FY25, and is projected to earn a FY26 net profit of ₹65.3 crore. At the upper end of the IPO price band, the issue is valued at 53.6× its FY26 price‑to‑earnings multiple.
SBI Securities gave the IPO a 'Neutral' rating, citing the high valuation and the need to prove performance in forthcoming quarters. The firm plans a post‑issue market cap of ₹3,497 crore and aims to sustain FY26 profitability.