New Delhi, Jul 26 (PTI) Sahajanand Medical Technologies (SMT) Ltd, a leading cardiac stent manufacturer, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO).
The IPO will be an entirely offer-for-sale (OFS) issue of 2.76 crore equity shares by promoters and existing investors. Key shareholders participating in the OFS include Shree Hari Trust, Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund, and NHPEA Sparkle Holding BV.
Founded in 2001, SMT focuses on medical device development, particularly in vascular intervention and structural heart segments. The company operates two R&D centres—one in India and another in Thailand—and boasts a strong intellectual property portfolio comprising 102 granted patents, 71 patent applications under review, and five design registrations in India.
SMT’s financial performance has shown marked improvement, with revenue from operations rising 13.67% to Rs 1,025 crore in FY25 compared to Rs 902 crore in the previous year. The company also turned profitable, reporting a net profit of Rs 25 crore versus a loss of Rs 7.35 crore in FY24.
Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities and Capital Markets (India) Pvt Ltd, and Nuvama Wealth Management are acting as the book-running lead managers for the IPO.
This is SMT’s second attempt at going public. The company had filed IPO papers in September 2021 for a Rs 1,500 crore issue but did not proceed with the plan at the time.