Sahajanand Medical Technologies LtdLIST AT NEARLY 8% PREMIUM

Shares of Sahajanand Medical Technologies made a strong debut on the stock exchanges on October 23, listing at a premium of nearly 8% over the initial public offering price of Rs 344 per share. The stock opened at Rs 371.15, registering a gain of 7.89% over the issue price. The stock's listing performance exceeded grey market expectations. According to Investorgain, Sahajanand Medical Technologies shares were commanding a grey market premium that indicated an estimated listing gain of around 5% on the morning of October 23. Investor demand for the IPO was led by qualified institutional buyers, whose allotted portion was subscribed 34.70 times. The non-institutional investor category received 14.64 times subscription, while the retail investor segment was subscribed 3.03 times. Headquartered in Mumbai, Sahajanand Medical Technologies develops medical devices for cardiovascular and vascular interventions. Its product portfolio includes coronary stents, coronary balloons and structural heart devices, such as transcatheter aortic valve implantation systems and occluders. The company also manufactures renal stents under its own brand and offers peripheral drug-coated balloons. Its products are designed for use in procedures to treat cardiovascular diseases and other vascular disorders.