Sahajanand Medical Technologies Limited

Red Herring Prospectus dated October 9, 2026

Summary

The IPO is an offer for sale of 1,38,22,116 shares by existing shareholders; Sahajanand Medical Technologies Limited receives none of the money. The document does not yet state the price.

The review found 9 points to read closely and 9 worth checking.

Read closely

1. Criminal proceedings against the company, its directors or individual promoters
2. Tax demands
3. Finance and compliance heads are new or have turned over
4. Regulatory proceedings or actions against the company or its directors
5. Director resignations
6. Large share of the issue is an offer for sale
7. Past defaults, rescheduling or covenant breaches
8. Profit jumped in the year before the IPO
9. High inventory days

How the capital was built

• The last priced issue of shares was on 7 Feb 2023: 48,28,725 shares to non-promoter investors at ₹269 each (1 allottee), 4.8% of the pre-issue capital, at 1.1 times the price of the previous issue 13 months earlier; it came about 4 years before this prospectus.
• Later allotments to employees or an employee trust (1, the latest on 29 Sept 2026 at ₹365 a share) are not counted as priced issues, since their price is set for staff rather than agreed with investors.
• From the first priced issue (18 Oct 2001, ₹0.71 in today's shares) to the last, the price per share rose 377 times over 21 years.

Conclusion

Of the 9 points to read closely, 5 concern the promoters, management and their dealings (criminal proceedings against the company, its directors or individual promoters; tax demands; finance and compliance heads are new or have turned over; regulatory proceedings or actions against the company or its directors; director resignations), 1 concerns how the IPO money will be spent and 3 concern the financial statements. These could not be scored automatically and need reading: promoters have limited experience in this business; group companies with no revenue. These wait for the price and the final share count: shares issued shortly before the IPO at a deep discount to the issue price; low promoter holding after the issue. The pages to read are 1, 37–38, 318, 328–329, 342, 412, 450, 453 and 455.