Sahajanand Medical Technologies raises ₹140.06cr, seeks ₹475.48cr via IPO
Sahajanand Medical Technologies, a Mumbai-based company known for making cardiovascular devices like stents, balloons, TAVI devices, occluders, renal stents, and peripheral drug-coated balloons, just raised ₹140.06 crore from big investors before its IPO opens on October 15.
The company is looking to raise up to ₹475.48 crore by selling shares priced between ₹327 and ₹344 each, with the offer closing on October 19.
Major funds buy shares via OFS
Major mutual funds like Nippon Life India picked up a big chunk of shares, along with global players like Allianz Global Investors Fund.
Since this is an offer for sale (OFS), the net proceeds, after deducting issue-related expenses, will go to the selling shareholders; none stays with the company itself.
The IPO is managed by Motilal Oswal Investment Advisors and other advisors, while key sellers include Samara Capital Markets Holding and Morgan Stanley-backed NHPEA Sparkle Holding B.V.