Sahajanand Medical Technologies IPO Analysis & Review

Quick Answers

What is the Sahajanand Medical Technologies IPO GMP today? The Sahajanand Medical Technologies IPO GMP is ₹39 as of 13/10/2026, 6:23:46 pm. The IPO price band is ₹327 - ₹344. GMP represents an unofficial grey-market indication and does not guarantee the listing price.

When does Sahajanand Medical Technologies IPO open? The Sahajanand Medical Technologies IPO opens on 2026-10-15 and closes on 2026-10-19.

What is the Sahajanand Medical Technologies IPO subscription status? The overall subscription is 0x.

Key IPO Information

ViewIPO AI Analysis Score

The Sahajanand Medical Technologies IPO scored 57/100 (High Risk) in our deep analysis.

Frequently Asked Questions

What is the size of the Sahajanand Medical Technologies IPO and what is the price band?

The IPO size is ₹475 crore, with a price band of ₹327‑₹344 per share.

Is the Sahajanand Medical Technologies IPO a fresh issue or an offer for sale?

The IPO is an offer‑for‑sale (OFS); the company will not receive any proceeds, as the entire issue is being sold by promoter shareholders.

What are the company's main products and markets?

Sahajanand Medical Technologies develops, manufactures, and sells medical devices for vascular and structural heart interventions, including coronary stents, balloon catheters, TAVI devices, and occluders, serving customers in 77 countries across India, Europe, and other international markets.

How has the company's international revenue performed in recent years?

International revenue grew from ₹587.84 crore in FY24 to ₹704.23 crore in FY25 and ₹894.20 crore in FY26, representing a CAGR of 23.34% over the period.

What are the key risks highlighted in the Sahajanand Medical Technologies IPO prospectus?

Key risks include high supplier concentration, dependence on imported raw materials (>70% of purchases), significant foreign‑exchange exposure from overseas sales, a history of losses, and regulatory challenges such as cancelled product registrations in Brazil and pending notices from Indian authorities.

What is the company's R&D expenditure as a percentage of revenue?

R&D expenditure amounted to 9.04% of revenue in FY24, 9.07% in FY25, and 8.61% in FY26.

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Sahajanand Medical TechnologiesNSE / BSE:

Analyzed by ViewIPO Financial Research Team
Medical DevicesIndiaFiled 2026-10-15Listing 2026-10-23Size ₹475.59Cr
Lot Size 43
Live GMP
₹39 (+11.34%)
Check Allotment
Status Link

Is Sahajanand Medical Technologies IPO Good? Quick Verdict

Sahajanand Medical Technologies IPO scored 57/100 (High Risk) in our deep analysis. The strongest pillar is Financial at 60/100, while Dilution is the primary concern at 35/100. While Sahajanand Medical Technologies demonstrates strong international growth, a robust R&D pipeline, and a diversified product portfolio, its high supplier and import dependence, foreign exchange exposure, and history of losses present notable risks that investors should weigh carefully.

IPO Score
57/100
High Risk

Quick Verdict

Strong international presence with revenue from 77 countries and international revenue CAGR of 23.34%.
Robust R&D pipeline with 119 granted patents and 78 pending patent applications.
Diversified product portfolio across vascular and structural heart interventions.
High dependence on imported raw materials, with imports constituting over 70% of total purchases.
Concentrated supplier base, top 10 suppliers accounting for ~60% of purchases.
History of losses, with consolidated loss of ₹7.35 crore in FY24 and standalone losses in FY24‑FY25.

Company Snapshot

Revenue (TTM)
₹1211Cr↑ 18.15% YoY
Profitability
—Pending Data
Gross Margin
— 
Market Cap (Post-IPO)
₹487.4CrAt upper band ₹344
IPO Size
₹475.59Cr 
Industry
Medical Devices 
P/E Ratio
—Pending Data

Risk Breakdown

Governance
60
Moderate
Financial
60
Moderate
Valuation
60
Moderate
Competition
55
Expensive
Dilution
35
High Risk
Promoter / Mgmt
60
Moderate

AI Summary

Sahajanand Medical Technologies Limited is a medical device manufacturer specializing in vascular and structural heart interventions, with a presence in 77 countries and a leading share in India's drug-eluting stents market. The company reported revenue growth from ₹902 crore in FY24 to ₹1,211 crore in FY26, driven by a 23.34% CAGR in international sales. It maintains a robust innovation pipeline, evidenced by 119 granted patents and R&D spending of approximately 8.6‑9.1% of revenue. However, the firm faces challenges including high supplier concentration, reliance on imported inputs, foreign exchange volatility, and a history of losses, which may affect its profitability prospects.

Overall Verdict: While Sahajanand Medical Technologies demonstrates strong international growth, a robust R&D pipeline, and a diversified product portfolio, its high supplier and import dependence, foreign exchange exposure, and history of losses present notable risks that investors should weigh carefully.

Key Highlights

  • •Revenue grew from ₹902 crore in FY24 to ₹1,211 crore in FY26.
  • •International revenue increased from ₹587.84 crore to ₹894.20 crore, representing a CAGR of 23.34%.
  • •Holds ~25% share of India's drug-eluting stents market and ranks among top five in Germany, Spain, Poland, Brazil.
  • •Possesses 119 granted patents globally and 78 pending applications, with R&D expenditure ~8.6‑9.1% of revenue.
  • •Operates three ISO 13485‑certified manufacturing facilities in India and Thailand with multiple regulatory approvals.
  • •Completed acquisitions enabling entry into structural heart devices and strengthening distribution in Spain and Brazil.
  • •Faces risks including supplier concentration, import dependence, foreign exchange exposure, and regulatory challenges.

Financial Performance

Revenue (Annual)

↑ +18.1% YoY

INR in Crores

Net Income (Annual)

↑ +100.0% YoY

INR in Crores

EBITDA vs PAT

EBITDA YoY

INR in Crores

EBITDA
PAT

IPO Timeline

IPO Opens2026-10-15
IPO Closes2026-10-19
Basis of Allotment2026-10-21
Refunds & Demat2026-10-21
Listing Date2026-10-23

Valuation Analysis

IPO Price₹327 - ₹344
Estimated Fair Value
Pending Data
Valuation Premium
Pending
vs Fair Value

IPO DNA

Growth
58
Governance
60
Profitability
60
Valuation
60
Competition
55
Execution
60

Pros vs Cons

Pros

  • Strong international footprint with presence in 77 countries and international revenue CAGR of 23.34%.
  • Leading market position: ~25% share of India's drug-eluting stents market and top-five rankings in key European and Latin American markets.
  • Robust innovation pipeline: 119 granted patents, 78 pending applications, and R&D expenditure ~8.6‑9.1% of revenue.
  • Diversified product portfolio across vascular and structural heart interventions, supported by extensive clinical evidence.
  • Integrated manufacturing capabilities with ISO 13485‑certified facilities and space for future expansion.

Cons

  • High supplier concentration: top 10 suppliers account for ~60% of purchases, with reliance on single sources for critical materials.
  • Significant dependence on imported raw materials, exceeding 70% of total purchases, exposing the company to forex and supply chain risks.
  • Revenue heavily weighted toward overseas markets (~74% in FY26), making earnings vulnerable to foreign exchange fluctuations.
  • History of losses, including a consolidated loss of ₹7.35 crore in FY24 and standalone losses in FY24‑FY25, raising profitability concerns.
  • Regulatory challenges, including cancelled product registrations in Brazil and pending notices from Indian authorities, which could restrict market access.

Financial Health

Revenue Growth
15.8% CAGR (FY24-FY26) (Good)

Institutional Signals

Anchor Investors
Undisclosed
VC Backing Tier
Undisclosed
Strategic Partners
Undisclosed

Sahajanand Medical Technologies IPO Reddit Pulse & Sentiment

Real-time Reddit discussions & retail sentiment

No Public Data Available

We couldn't find any significant public discussions or retail sentiment threads for this IPO at the moment.

Disclaimer: These are raw community discussions aggregated from public forums. The AI summary and Reddit comments do not constitute financial advice. Always conduct your own independent research.

Sahajanand Medical Technologies IPO — Frequently Asked Questions

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IPO Terminology Explained

Confused by terms like GMP, Kostak, or Subject to Sauda? Read our detailed guides in the IPO Glossary to understand the terminology before you invest.

Grey Market Premium (GMP)Subject to SaudaASBAOffer for Sale (OFS)
View Full Glossary

Source Citation: All financial data and risk metrics are derived from the official prospectus filed with the regulator (SEBI DRHP/RHP). ViewIPO algorithms process this public data for informational purposes. Not financial advice.

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Frequently Asked Questions about Sahajanand Medical Technologies

What is the expected listing price of Sahajanand Medical Technologies?

The expected listing price depends on the live Grey Market Premium. Check the live GMP and expected listing price for Sahajanand Medical Technologies on our Live GMP Tracker.