Sahajanand Medical Technologies ₹475.48cr IPO sees oversubscription 14.20x 5% premium
Sahajanand Medical Technologies, known for its advanced heart devices, is making its stock market debut with a ₹475.48 crore IPO.
The buzz is real: investors oversubscribed 14.20 times overall, and shares traded at a nearly 5% premium in the gray market, showing strong early interest.
QIBs subscribed 34.70x Sahajanand IPO
Big players like Qualified Institutional Buyers grabbed up shares 34.70 times over their quota, while non-institutional and retail investors weren't far behind.
The company faces raw material-related risks, technological challenges in a highly competitive medical devices market and regulatory risks, and SBI Securities gave it a "Neutral" rating citing the valuation and the need to assess the company's performance over the next few quarters after listing.
Shares are priced at ₹327-₹344 each, aiming for a market cap of about ₹3,497 crore after the issue.