Stories
Sahajanand Medical Technologies IPO Subscribed 14x on Final Day with 8% GMP
- •The initial public offering of Sahajanand Medical Technologies was subscribed 14.20 times by the end of the final bidding day on October 19.
- •The Rs 475.48-crore IPO received bids for 13,84,72,771 shares against 97,50,482 shares on offer, led by qualified institutional buyers.
- •Shares of the cardiovascular device maker commanded an 8 percent premium in the grey market ahead of listing.
- •The company had earlier mobilized Rs 140.06 crore through anchor investors, including major domestic mutual funds and global funds.
- •The entire IPO is an offer for sale of 1.38 crore equity shares by the Mumbai-headquartered medical device maker.
Key Questions Answered
The initial public offering of Sahajanand Medical Technologies was subscribed 14.20 times by the end of the final day of bidding on October 19, receiving bids for 13,84,72,771 shares against 97,50,482 shares on offer.
Ahead of the public issue opening, Sahajanand Medical Technologies successfully mobilised Rs 140.06 crore through anchor investors by allotting 40.71 lakh equity shares to eight institutional investors on October 14 at the upper end of the price band.
The initial public offering seeks to raise up to Rs 475.48 crore entirely through an offer for sale (OFS) of 1.38 crore equity shares. Because the issue is completely an OFS, all net proceeds go to the selling shareholders, and the company does not receive any proceeds from the offering.
