Medical-technology manufacturer Sahajanand Medical Technologies Ltd (SMTPL) will open its Rs 451.98–475.48 crore IPO for subscription on 15 October 2026, with the issue closing on 19 October and listing expected on 23 October 2026 on the BSE and NSE. Anchor bidding is scheduled for 14 October.
The issue is a pure offer for sale of 1,38,22,116 shares at a price band of Rs 327–344 per share — no fresh capital for the company, with promoters and existing shareholders selling down. Motilal Oswal Investment Advisors is the book-running lead manager. The minimum bid is 43 shares, or about Rs 14,792 at the lower band.
Founded in 2001 by Dhirajlal Kotadia, SMTPL makes vascular and structural-heart intervention devices — drug-eluting stents, TAVI devices, occluders and balloon catheters — and accounted for nearly 25% of India's drug-eluting stent sales volume in FY26. The company reported FY26 revenue of Rs 1,210.50 crore with net profit of Rs 69.08 crore, holds 119 granted patents globally, and markets its products in 77 countries from two R&D centres and three manufacturing facilities in India and Thailand.
Why it matters for founders
SMTPL is proof that deep, patent-heavy Indian medtech can go public on fundamentals — 25 years of R&D, real export scale, and a P/E band around 50–53x. For deeptech and healthtech founders, this is the template: build defensible IP, commercialise globally early, and the public markets will price the moat.