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Sahajanand Medical Technologies files for Rs.1,500-Cr IPO

Economic Times  

Sahajanand Medical Technologies, a medical devices company, filed its draft red herring prospectus (DRHP) with market regulator Sebi. The company plans to raise Rs 1,500 crore through an initial public offering (IPO) through a fresh issue of shares, aggregating up to Rs 410.33 crore and an offer for sale (OFS) aggregating up to Rs 1,089.67 crore. The OFS comprises share sale worth Rs 100 crore by Dhirajkumar S Vasoya, Rs 33.75 crore by Shree Hari Trust (Acting Through its Trustee), Rs 635.56 crore by Samara Capital Markets Holding and Rs 320.36 crore by NHPEA Sparkle Holding BV. The company proposes to utilise the net proceeds from the issue towards paying off debt of Rs 255 crore and funding working capital requirement of its indirect foreign subsidiaries. The book running lead managers to the offer are Axis Capital, BofA Securities India, Edelweiss Financial Services and UBS Securities India.

From the Venture Intelligence PE-VC Deal Database: Between Dec-16 and Jan-18 Sahajanand Medical Technologies had raised close to INR 380 crores from Samara Capital and Morgan Stanley. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)