Samara Capital-backed Sahajanand Medical Tech files IPO papers with Sebi

Cardiac stent maker Sahajanand Medical Technologies (SMT) Ltd has filed preliminary papers with the capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The IPO is entirely an offer-for-sale (OFS) of 2.76 crore equity shares by promoters and investors, according to the draft red herring prospectus (DRHP) filed on Friday.

Those selling shares in the public issue are Shree Hari Trust, Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund and NHPEA Sparkle Holding BV.

Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund, Plutus Wealth Management LLP, and Ashish Kacholia are major shareholders in the company.

Founded in 2001, Sahajanand Medical Technologies is engaged in the development of medical devices, with an emphasis on Vascular Intervention and Structural Heart. It has two R&D centres, one in India and another in Thailand.

Additionally, it has built an intellectual property portfolio, with 102 patents granted globally, 71 more patent applications in the pipeline, and five design registrations in India.

The company's revenue from operations increased by 13.67 per cent to Rs 1,025 crore in fiscal 2025 from Rs 902 crore in the preceding fiscal. Its profit stood at Rs 25 crore compared to a loss of Rs 7.35 crore.

Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities and Capital Markets (India) Private Limited and Nuvama Wealth Management are the book-running lead managers.

Earlier, the company had filed draft papers with Sebi in September 2021 for raising Rs 1,500 crore through its IPO. This comprised fresh issuance as well as OFS. However, Sahajanand Medical Technologies didn't go ahead with the public issue.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)