Sahajanand Medical Sets ₹327–344 IPO Price Band, ₹475 Crore Issue Opens October 15
· Free Press Journal
Mumbai: Cardiac stent manufacturer Sahajanand Medical Technologies has set a price band of ₹327–344 per share for its ₹475 crore initial public offering. At the upper price, the company’s valuation stands at ₹3,497 crore, according to its public announcement.
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The IPO will open for subscription on October 15 and close on October 19, giving investors an opportunity to bid within the price range.
Subscription And Listing Schedule
Anchor investor bidding will take place on October 14, a day before the public issue opens.
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These dates establish the timetable for anchor participation, public subscriptions and the market debut. The listing remains scheduled rather than completed, while the offer price will fall within the band.
Entire IPO Is An Offer For Sale
The offering consists of an offer for sale of up to 1.38 crore equity shares by existing shareholders. There is no fresh issue component.
Consequently, Sahajanand Medical Technologies will not receive any proceeds from the IPO. The funds raised will go to shareholders selling their holdings.
At ₹344 per share, the upper end of the band, the issue size is ₹475 crore.
This structure differs from a fresh share issue, where capital enters the company. Here, the transaction involves the sale of existing equity.
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Qualified institutional buyers will be allocated 50 per cent of the issue. Non-institutional investors will receive 15 per cent, while retail individual investors have a 35 per cent allocation.
The category split outlines the shares earmarked for different investor groups participating in the offering.
Lead Managers And Registrar Named
Motilal Oswal Investment Advisors, Avendus Capital, HSBC Securities and Nuvama Wealth Management are the book-running lead managers.
MUFG Intime India will act as registrar to the issue.
The public announcement provides the pricing, timing and allocation details ahead of Sahajanand Medical Technologies’ debut.