Sahajanand Medical Technologies shares debut at 8% premium on NSE — should you buy, sell or hold?

Following the listing, Sahajanand Medical Technologies' market capitalisation stood at around Rs 3,741.11 crore. The listing was stronger than grey market expectations. The shares were commanding a grey market premium (GMP), indicating an estimated listing gain of around 5 percent on the morning of October 23, according to Investorgain. Read Also: Tonbo Imaging shares list at 66% premium on BSE, NSE — should you buy, sell or hold?

The Rs 475.48-crore IPO was subscribed 14.20 times by the close of bidding on October 19, according to NSE data. The issue received bids for 13,84,72,771 shares against 97,50,482 shares on offer. Qualified institutional buyers (QIBs) led the demand, subscribing to their allotted portion 34.70 times. The non-institutional investor (NII) category was subscribed 14.64 times, while the retail investor portion was subscribed 3.03 times.

The IPO was open for subscription from October 15 to October 19. The company raised Rs 475.48 crore through an offer for sale (OFS) of approximately 1.38 crore equity shares. Since the issue was entirely an OFS, the proceeds will go to the selling shareholders, and the company will not receive any funds from the IPO. Should you buy, sell or hold? Sarvam Goel, Founder of Pocketful, said, "Investors who received allotment should hold, and those who missed the IPO can look to add post-listing."

About Sahajanand Medical Technologies Mumbai-headquartered Sahajanand Medical Technologies develops medical devices used in cardiovascular and vascular interventions. Its product portfolio includes coronary stents and coronary balloons, along with structural heart products such as transcatheter aortic valve implantation (TAVI) devices and occluders. The company also offers renal stents under its own brand and peripheral drug-coated balloons (DCBs). Its products are used in medical procedures to treat cardiovascular conditions and other vascular disorders.