Sahajanand Medical Technologies IPO: DRHP Filed by Ashish Kacholia & Samara Capital Backed Firm
Sahajanand Medical Technologies: A Deep Dive into India’s Stent Market Leader
Table of Contents
Sahajanand Medical Technologies (SMT) stands as a prominent player in the medical devices sector, specializing in Class III and class C/D devices with a strong focus on vascular and structural heart interventions.Founded in 2001 by Dhirajlal Kotadia, the company has carved a niche for itself through a commitment to research and growth, precision manufacturing, and the delivery of high-quality, clinically validated products. As of march 31, 2025, SMT boasts a significant global footprint, with its innovative medical solutions reaching across 76 countries.
A Comprehensive Product Portfolio
SMT’s diverse product range caters to critical areas of cardiovascular care. The company’s Vascular Intervention (VI) products include essential coronary intervention devices such as coronary stents and coronary balloons.Complementing these are its Structural heart (SH) products, featuring trans-Catheter Aortic Valves and Occluders. Beyond these core offerings, SMT also markets its own brand of renal stents, peripheral drug-coated balloons, and othre trading products, demonstrating a broad approach to addressing unmet medical needs.
Dominance in the Indian Drug-Eluting Stent Market
A recent Frost & Sullivan (F&S) report highlights Sahajanand Medical Technologies’ commanding position within the Indian drug-eluting stent (DES) market. The company holds a substantial market share, capturing nearly 25.00% of the total DES sales volume in India for the calendar year 2025. This leadership underscores SMT’s technological prowess and its ability to compete effectively in a highly specialized and critical segment of the healthcare industry.
SMT financial Performance: A Turnaround Story
SMT Limited has demonstrated robust financial growth, with its revenue from operations surging by 13.67% to Rs 1,024.88 crore in Fiscal 2025. This increase, up from Rs 901.60 crore in Fiscal 2024, is largely attributable to a significant rise in device sales, notably driven by strong performance in Europe and other international markets, with the structural heart vertical leading the charge.
Perhaps more notably,SMT has achieved a remarkable financial turnaround. The company reported a profit of Rs 25.15 crore in Fiscal 2025, a stark contrast to the loss after tax of Rs 7.35 crore recorded in Fiscal 2024. This positive shift in profitability signals a strengthening financial position and effective operational management.
The company’s journey towards public listing is being expertly guided by a consortium of leading financial institutions. Motilal Oswal Investment Advisors Limited, Avendus Capital Private Limited, HSBC Securities and Capital Markets (India) Private Limited, and Nuvama Wealth Management Limited are serving as the book-running lead managers for the issue. MUFG Intime India Private Limited is acting as the registrar for the offering.
Sahajanand Medical Technologies’ equity shares are slated for listing on both the National Stock Exchange of India Limited (NSE) and BSE Limited, two of India’s premier stock exchanges. This dual listing is expected to provide broad market access and enhance the visibility of SMT’s shares.
Also Read: SaaS unicorn Amagi Media Labs files DRHP with Sebi,to raise Rs 1,020 crore from fresh issue
(Disclaimer: Recommendations,suggestions,views and opinions given by the experts are their own. These do not represent the views of Economic Times)