Mumbai-headquartered cardiovascular device maker Sahajanand Medical Technologies opened its initial public offering (IPO) today, with the issue receiving 10 percent subscription by 12:15 pm on October 15, as per the NSE data.
The Rs 475.48-crore IPO received bids for 9,65,608 shares against 97,50,482 shares on offer. Retail investors led the demand with 17 percent subscription, followed by non-institutional investors with 6 percent subscription.
In the grey market, the Sahajanand Medical Technologies shares were commanding a premium of 14 percent on the morning of October 15, as per InvestorGain. However, grey market premiums are unofficial indicators based on speculative trading and do not guarantee listing gains.
Ahead of the issue opening, the company mobilised 140.06 crore through anchor investors. Sahajanand Medical Technologies allotted 40.71 lakh equity shares to eight institutional investors through the anchor book on Wednesday at the upper end of the price band.
Of the total allocation, 30.25 lakh shares, worth approximately Rs 104 crore, were allotted to five domestic mutual fund houses: Nippon Life India, DSP Mutual Fund, WhiteOak Capital, Invesco India, and UTI AMC. These investors participated through a total of seven schemes.