Sahajanand Medical Technologies IPO subscribed 34 pc on day 1

New Delhi, Oct 15 (PTI) The initial public offer of Sahajanand Medical Technologies Ltd, a manufacturer of cardiac stents, received 34 per cent subscription on the first day of bidding on Thursday.

The company’s IPO received bids for 33,50,388 shares against 97,50,482 shares on offer, as per data available with the NSE.

The quota for retail investors was subscribed 40 per cent, while qualified institutional buyers (QIBs) received 37 per cent subscription. The category for non-institutional investors received 20 per cent subscription.

Sahajanand Medical Technologies Ltd on Wednesday raised Rs 140 crore from anchor investors.

The Rs 475-crore initial public offering (IPO) will 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. PTI SUM SUM BAL

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