Sahajanand Medical Technologies IPO sets price band at ₹327 to ₹344 per share; check lot size and key dates

Medical technology company Sahajanand Medical Technologies has fixed a price band of ₹327 to ₹344 per share for its ₹475.48 crore initial public offering (IPO). The issue will open for public subscription on October 15 and end on October 19.

The IPO is exclusively an offer for sale (OFS) of 1.38 crore shares by promoters and existing investors, with no fresh issue component.

Those selling their stake through the OFS route include promoters Shree Hari Trust and investors Dhirajkumar Savjibhai Vasoya and investors Samara Capital Markets Holding, Kotak Pre-IPO Opportunities and NHPEA Sparkle Holding BV.

As there is no fresh issue component, the company will not get any proceeds from the offer. The money raised will go to selling shareholders.

"Our company expects that listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders. Listing will also provide a public market for the equity shares in India," the company said in its red herring prospectus.

Sahajanand Medical Technologies IPO: Lot size

Investors can apply for at least 43 shares and in multiples thereafter. The company has set aside 50% of the net offer for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Sahajanand Medical Technologies IPO: Allotment and listing date

Sahajanand Medical Technologies is a Class III and Class C/D medical devices firm with a portfolio of technologically advanced medical devices across vascular and structural heart intervention.

Its portfolio of (a) VI products includes coronary intervention products like coronary balloons and coronary stents; (b) SH products include TAVI and occluders; and (c) others, including peripheral DCBs, renal stents and other trading products.