Mumbai-headquartered cardiovascular device maker Sahajanand Medical Technologies has raised Rs 140.06 crore through its anchor book on October 14, a day ahead of the opening of its initial public offering (IPO).
The company will open its IPO for public subscription on October 15, seeking to raise up to Rs 475.48 crore entirely through an offer for sale (OFS) of 1.38 crore equity shares.
The promoters and key investors Samara Capital Markets Holding, Kotak Pre-IPO Opportunities Fund, and Morgan Stanley-backed NHPEA Sparkle Holding B.V., are selling shareholders in the OFS. The IPO price band has been fixed at Rs 327–344 per share, and the issue will close on October 19.
Founded by Dhirajlal Kotadia in 2001, 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.