SMT’s ₹2,000 Cr IPO: Can India’s Stent Giant Win Over Global Investors?

Sahajanand Medical Technologies (SMT), India’s largest cardiac stent maker, is preparing to launch a ₹2,000 crore initial public offering (IPO) as early as next month. The company has initiated talks with investment bankers and is finalizing its draft red herring prospectus, aiming to strengthen its global footprint and expand R&D capabilities.

 

Key Highlights:

SMT’s IPO will mark a significant milestone in its journey from a domestic stent innovator to a global medtech player. The company had previously filed for a ₹1,500 crore IPO in 2021 but deferred the plan to scale further before listing. With a strong balance sheet, low debt, and growing international demand, SMT is now positioning itself for a highimpact market debut.

 

Bookrunning lead managers include Axis Capital, BofA Securities India, Edelweiss Financial Services, and UBS Securities India.

 

Source: Economic Times, VCCircle, Mint, SMT Company Statements