Sahajanand Medical Technologies Garners Rs 140 Cr From Anchor Investors Ahead of IPO

New Delhi: Sahajanand Medical Technologies Ltd, a manufacturer of cardiac stents, on Wednesday raised Rs 140 crore from anchor investors ahead of its Rs 475-crore IPO, which will open for public subscription on Thursday.

The company allotted 40.71 lakh equity shares to anchor investors at Rs 344 apiece, the upper end of the IPO price band, according to a circular uploaded on stock exchanges.

Some of the investors that participated in the anchor book included Allianz Global Investors Fund, Natixis International Funds (Lux) -I, Tata AIA Life Insurance Company, DSP Mutual Fund, Nippon India Mutual Fund and WhiteOak Capital Mutual Fund.

The initial public offering (IPO) will open for subscription on October 15 and close on October 19. The price band has been fixed at Rs 327-344 per share.

The public issue is entirely an offer for sale (OFS) of up to 1.38 crore equity shares by existing shareholders, with no fresh issue component. Consequently, the company will not receive any proceeds from the IPO.

The company’s shares are proposed to be listed on the BSE and NSE on October 23.

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