InvestorQ : What is the size of the Sahajanand IPO likely to be and when is it expected?
swati Bakhda made post

What is the size of the Sahajanand IPO likely to be and when is it expected?

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Sam Eswaran answered.
2 months ago
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As of now, Sahajanand Medical Technologies has just about filed its draft red herring prospectus or DRHP with SEBI. That is just the first step to the IPO. This manufacturer of medical devices has a distinct market leadership in Drug eluting stents (DES) with 31% share of market. The DRHP filing is for its Rs.1,500 crore initial public offer (IPO). The IPO will comprise of a fresh issue of Rs.410.33 crore and offer for sale or OFS of Rs.1,089.67 crore.

The participants in the OFS will include some of the existing promoters of Sahajanand Medical Technologies as well as some of the early investors like Samara Capital and NHPEA Sparkle BV. The fresh proceeds of Rs.410 crore will be substantially utilized to repay the outstanding debt of Rs 255 crore to deleverage the balance sheet. Once the DRHP is approved, then the IPO process will take around 1-2 months.

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