Upcoming IPO: Ashish Kacholia-Backed Sahajanand Medical Tech Files DRHP With SEBI To Raise Funds Via OFS

Upcoming IPO: Sahajanand Medical Technologies Ltd. filed its preliminary draft papers with the capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering (IPO). The medical devices company's public offer will include only offer for sale of up to 2.76 crore shares, according to the draft red herring prospectus (DRHP).

The equity shares of the company are proposed to be listed on the National Stock Exchange (NSE) of India Ltd. and BSE Ltd after the IPO concludes. Shree Hari Trust and Dhirajkumar Savjibhai Vasoya are the promoters of the company offloading shares through an offer for sale (OFS).

Ashish Kacholia, Samara Capital Markets Holding Limited, Kotak Pre-IPO Opportunities Fund and Plutus Wealth Management LLP are the major shareholders in the company. Motilal Oswal Investment Advisors Ltd., Avendus Capital Pvt., HSBC Securities and Capital Markets (India) Pvt. and Nuvama Wealth Management Ltd. are the book-running lead managers for the issue and MUFG Intime India Pvt. will be the registrar of the issue.

The offer is conducted through a book-building process, with up to 50% allocated to qualified institutional buyers and at least 15% and 35% assigned to non-institutional and retail individual bidders. Samara Capital Markets Holding Ltd., Kotak Pre-IPO Opportunities Fund and NHPEA Sparkle Holding B.V. are investors who would be offloading stake in the IPO.

Founded by Dhirajlal Kotadia in 2001, Sahajanand Medical Technologies has built a global presence across 76 countries. The company is driven by strong research and development and precision manufacturing, enabling the delivery of high-quality, clinically-backed medical devices.

The Surat based company focuses on the development of Class III and Class C/D medical devices, particularly in the areas of Vascular Intervention and Structural Heart. Its VI portfolio includes coronary stents and balloons, while the SH portfolio covers transcatheter aortic valves and occluders. It also offers renal stents, peripheral drug-coated balloons, and other traded products.

The company’s innovation includes the proprietary LDZ link, which enhances the deliverability of Supraflex Cruz—its flagship biodegradable polymer DES. It also developed a patented Aortic Valve Delivery Catheter (AVDC) system for its Hydra TAVI following the acquisition of Vascular Innovations.

Revenue from operations rose 13.67% to Rs 1,024.88 crore in fiscla 2025, up from Rs 901.60 crore in financial year 2024, driven by strong sales in Europe and other international markets, particularly in the structural heart segment. The company reported a profit of Rs 25.15 crore in fiscal 2025, compared to a loss of Rs 7.35 crore in financial year 2024.