Sahajanand Medical Technologies has filed its draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) on Friday. The company was founded by Dhirajlal Kotadia in 2001 and it specialises in advanced medical devices in vascular and structure heart intervention. Ashish Kacholia, Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund and Plutus Wealth Management LLP are the major shareholders in the company.
Sahajanand Medical Technologies IPO details
The IPO, with a face value of Re 1, is entirely an offer-for-sale (OFS) of up to 2.76 crore equity shares by promoters and existing investors. Shree Hari Trust and Dhirajkumar Savjibhai Vasoya will each offload up to 27 lakh shares, while Samara Capital will sell around 1.29 crore shares. Kotak Pre-IPO Opportunities Fund plans to sell up to 26.15 lakh shares and NHPEA Sparkle Holding BV will offload up to 66.7 lakh shares.
The offer includes a discount for eligible employees under a reserved portion. According to the draft documents, the IPO will follow the book-building process, with up to 50% reserved for qualified institutional buyers (QIBs), at least 15% for non-institutional investors (NIIs) and a minimum of 35% for retail individual investors (RIIs).
The equity shares will be listed on the NSE and BSE. Motilal Oswal Investment Advisors, Avendus Capital Private, HSBC Securities and Capital Markets (India) and Nuvama Wealth Management are the book-running lead managers for the public issue, with MUFG Intime India as the registrar.
SMT’s financial performance
SMT Limited reported a 13.67% rise in its revenue from operations, reaching Rs 1,024.88 crore in FY25, up from Rs 901.60 crore in FY24. The growth was largely driven by increased device sales, particularly in the structural heart segment, with strong demand from Europe and other global markets. The company also returned to profitability, posting a net profit of Rs 25.15 crore in FY25, compared to a net loss of Rs 7.35 crore in the previous fiscal.