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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
The money raised through the Offer for Sale goes to existing investors, not the company.
(₹ in Crore)
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Sahajanand Medical Technologies Limited, commonly known as SMT, is a global medical technology enterprise founded in 2001 by Dhirajlal Kotadia. Headquartered in Mumbai, Maharashtra, with manufacturing facilities in Surat, Gujarat, the company specializes in designing, engineering, and manufacturing advanced Class III and Class C/D vascular intervention and structural heart devices. SMT established its mark in the cardiovascular ecosystem by becoming the first company globally to obtain CE mark certification for a drug-eluting stent featuring a biodegradable polymer matrix, offering advanced therapeutic options to interventional cardiologists worldwide. The company offers an extensive portfolio of life-saving medical devices designed for complex cardiovascular procedures. Its flagship product offerings include drug-eluting coronary stents such as Supraflex Cruz and Infinnium, bare-metal stents, PTCA balloon catheters, renal vascular stents, and structural heart therapies including transcatheter aortic valve implantation (TAVI) systems under the Hydra brand and septal occluders under the Cocoon brand. SMT invests heavily in continuous research and development, operating state-of-the-art innovation hubs in India, Ireland, and Thailand, supported by a global intellectual property portfolio of over 100 granted patents. Through a direct sales organization and a strong distribution network, SMT commercializes its cardiovascular device portfolio across more than 76 countries in Europe, Asia, Latin America, and the Middle East. The organization maintains strict adherence to global medical regulatory frameworks, holding approvals from domestic and international healthcare authorities. As an Indian medtech pioneer competing directly with multinational medical device conglomerates, SMT continues to expand its clinical trial footprint and product availability across global healthcare systems.
The company raised Rs 140.06 crore from institutional anchor investors on October 14, 2026, allotting 40,71,634 equity shares at the upper price band of Rs 344 per share. Key institutional anchor investors included Nippon India Small Cap Fund, DSP Healthcare Fund, WhiteOak Capital, Invesco India Pharma and Healthcare Fund, UTI Healthcare Fund, Allianz Global Investors Fund, Loomis Sayles Global Emerging Markets Equity Fund, and Tata AIA Life Insurance.
Source: RHP • Analysis provided for informational purposes
Last Updated: 16 October 2026, 12:03 AM
Strong Domestic Leadership in Vascular Devices
Holds a prominent market share in coronary drug-eluting stents within India, supported by an established clinical track record of product safety and efficacy.
Robust Intellectual Property and Global R&D Infrastructure
Operates dedicated research and innovation centers in India, Ireland, and Thailand with more than 100 international patents granted for cardiovascular technologies.
Expansive Global Footprint and Distribution Network
Distributes medical products across 76 countries worldwide through direct commercial teams and established international regulatory clearances.
Comprehensive Cardiovascular Product Portfolio
Provides an integrated suite of Class III and Class C/D devices spanning coronary vascular interventions and structural heart solutions.
High Product Dependency on Stents
A significant proportion of business revenue is tied to coronary drug-eluting stents, exposing operational performance to category-specific demand swings.
Stringent Quality Standards and Regulatory Oversight
Operates under rigorous medical device regulatory frameworks globally, requiring continuous compliance and periodic quality audits by health authorities.
Government Price Controls on Coronary Stents
Price ceilings imposed by India's National Pharmaceutical Pricing Authority on drug-eluting stents can restrict operating margins and pricing flexibility.
Sahajanand Medical Technologies Limited
Sahajanand Estate, Wakhariawadi, Near Dabholi Char Rasta, Nani Ved, Ved Road, Surat, Gujarat 395004, India
View on Maps →MUFG Intime India Private Limited
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Competition from Established Global MedTech Enterprises
Competes with large multinational medical technology companies possessing significantly greater financial, commercial, and research resources.
Pure Offer for Sale Structure
The public issue consists entirely of an Offer for Sale by selling shareholders, meaning no capital proceeds will flow directly to the company.