Sahajanand Medical Technologies IPO entered its third and final day of bidding on Monday. The issue was commanding a grey market premium (GMP) of 7%, indicating expectations of potential listing gains in the unofficial market. However, the GMP is subject to fluctuations and does not guarantee the stock’s actual listing price or listing gains.

On Day 2, the IPO was subscribed 82% overall against 97.50 lakh shares on offer. The Retail Individual Investors (RIIs) category saw 83% subscription against 47.50 lakh shares reserved for retail investors.

The medical technology company aims to raise Rs 475.48 crore through the public issue, which comprises an offer for sale (OFS) of 1.38 crore shares. As the IPO is entirely an OFS, the company will not receive any proceeds from the offering. Instead, the funds will go to the existing shareholders selling their stakes.

Sahajanand Medical Technologies has fixed the IPO price band at Rs 327–344 per share. The issue will close on October 19, 2026, while the basis of allotment is expected to be finalised on October 21. The shares are tentatively scheduled to list on the BSE and NSE on October 23.

The IPO lot size is 43 shares, translating into a minimum investment of Rs 14,792 for retail investors applying at the upper end of the price band.

Ahead of the public issue, Sahajanand Medical Technologies raised Rs 140 crore from anchor investors by allotting 40,71,634 equity shares at Rs 344 apiece, the upper end of the IPO price band.

Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities & Capital Markets (India) and Nuvama Wealth Management are the book-running lead managers for the issue, while MUFG Intime India has been appointed as the registrar.

Sahajanand Medical Technologies’ IPO was subscribed 82% overall by the end of Day 2, against 97.50 lakh shares on offer. Among investor categories, Qualified Institutional Buyers (QIBs) showed relatively stronger demand, subscribing 1.12 times their reserved portion, against 27.14 lakh shares on offer.

The Retail Individual Investors (RIIs) category was subscribed 83%, compared with 47.50 lakh shares reserved for the segment. Meanwhile, the Non-Institutional Investors (NIIs) category saw 51% subscription against 20.35 lakh shares on offer.

Sahajanand Medical Technologies’ latest grey market premium (GMP) stood at Rs 25 per share, indicating a premium of around 7% over the upper end of the IPO price band of Rs 344. Based on this premium, the estimated listing price works out to Rs 369 per share. However, the GMP is an unofficial indicator and does not guarantee the actual listing price or listing returns. It may fluctuate before the shares debut on the stock exchanges.

Sahajanand Medical Technologies Ltd.’s total income increased 18% to Rs 1,219 crore in FY26 from Rs 1,036 crore in FY25. Profit after tax (PAT) surged 175% to Rs 69 crore in FY26, compared with Rs 25 crore in the previous financial year.

Incorporated in October 2001, Sahajanand Medical Technologies Ltd. is a medical technology company engaged in developing, manufacturing and marketing advanced medical devices, primarily for vascular and structural heart interventions. Its product portfolio includes coronary stents, balloons, transcatheter aortic valve implantation (TAVI) devices, occluders, renal stents and peripheral drug-coated balloons. Its flagship brands include Supraflex Cruz, Cocoon and Hydra, supported by a focus on research, precision manufacturing and product innovation.

The company operates three manufacturing facilities across India and Thailand, along with two research and development centres. As of June 30, 2026, it held 119 patents globally, with 78 patent applications in the pipeline, and marketed its products in 77 countries in FY26. Revenue from operations rose to Rs 1,210.50 crore in FY26 from Rs 1,024.88 crore in FY25 and Rs 901.60 crore in FY24. As of June 30, 2026, the company had 1,605 full-time employees, 31 consultants and 707 contract workers.

Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here