Sahajanand Medical Technologies IPO subscription status on the final day: the issue closed on 19 October 2026 at 14.2x overall, as per our tracker at 5:11 PM. Institutional buyers (QIBs) bid hardest: QIBs 34.7x, non-institutional investors 14.64x, retail 3.03x. The grey market quote stands at ₹23 (6.69%).
How the book closed
| Category | Times subscribed |
|---|---|
| QIB (institutional buyers) | 34.7x |
| NII (non-institutional), total | 14.64x |
| bNII (bids above ₹10 lakh) | 16.37x |
| sNII (bids of ₹2–10 lakh) | 11.19x |
| Retail | 3.03x |
| Employees | 0.37x |
| Total | 14.2x |
Within the non-institutional portion, bids above ₹10 lakh (bNII) came in at 16.37x and bids of ₹2 lakh to ₹10 lakh (sNII) at 11.19x. The employee quota was 0.37x. With the retail portion booked 3.03x, roughly one retail application in 3 can expect a lot, because allotment is by lottery once a portion is oversubscribed.
What our data shows
At ₹475.48 crore, this is the 58th largest of the 105 mainboard IPOs that closed in 2026. Our tracker shows the premium at ₹41 (11.92%) on 14 October, ₹43 on 15 October, ₹35 on 16 October, ₹15 on 17 October, ₹28 on 18 October and ₹15 (4.36%) on 19 October. On the last 10 mainboard listings, the final GMP was off by 11 percentage points on average, so a small premium says little. Motilal Oswal had 14 of its 21 earlier listings open above the issue price.
What the company does
Sahajanand Medical Technologies, founded in 2001, makes heart devices, mainly coronary stents, balloons and TAVI valves. It says it sells in over 76 countries and holds 102 granted patents. The IPO is an offer for sale by existing shareholders, so the company receives no money.
The numbers behind the issue
Total income was ₹1,218.73 crore in FY2026 against ₹1,035.96 crore in FY2025, up about 18%. Profit after tax rose from ₹25.15 crore to ₹69.08 crore, after a loss of ₹7.35 crore in FY2024. Borrowings stood at ₹320.63 crore on 30 June 2026. Promoter holding goes from 40.82% to 36.2%. The post-issue market value at the upper band is ₹3,496.65 crore.
The full issue details are on the Sahajanand IPO page. We covered the issue when it opened in our opening-day post.
Key facts
| Detail | Figure |
|---|---|
| Price band | ₹327 to ₹344 |
| Issue size | ₹475.48 crore, offer for sale only |
| Lot size | 43 shares |
| Minimum at upper band | ₹14,792 |
| Post-issue market value at upper band | ₹3,496.65 crore |
How the grey market moved
| Date | GMP | GMP as % of issue price |
|---|---|---|
| 14 Oct | ₹41 | 11.92% |
| 15 Oct | ₹43 | 12.50% |
| 16 Oct | ₹35 | 10.17% |
| 17 Oct | ₹15 | 4.36% |
| 18 Oct | ₹28 | 8.14% |
| 19 Oct | ₹15 | 4.36% |
GMP is an unofficial dealer quote, not an exchange price. It can change within hours and does not guarantee a listing price.
What happens next
Basis of allotment is due on 21 October 2026. Refunds and demat credit follow on 22 October, and shares list on BSE and NSE on 23 October. The registrar is MUFG Intime India. Our subscription page keeps the category figures, and the GMP page keeps the grey market history.
