Leading brokerage gives thumbs up to EAAA India Alternatives Limited IPO*

*Leading brokerage gives thumbs up to EAAA India Alternatives Limited IPO*

_Only alternatives platform in India to have a diversified suite of Yield & Income Solutions to domestic and global investors with Asset Under Management (“AUM”) of ₹ 953.45 bn_

Leading brokerage firms Anand Rathi, Bajaj Broking, GEPL Capital and Ventura Securities have given their "Subscribe" recommendation to EAAA India Alternatives Limited, which is one of the leading alternative platforms in India, in terms of assets under management (AUM) with more than 17 years of experience (Source - CARE Report) of managing long term patient capital with an AUM of Rs 953,448.78 million or Rs 95,344.8 crore, as of June 30, 2026.

Anand Rathi highlights the company is an alternative investment management platform focussed on Indias real assets and private credit markets. On the valuation front, at the upper price band, the company is valued at a PE of 40.6 times FY26 and 33.2 times FY26 EV / EBITDA. Given its leadership position in India's alternatives market, diversified investment platform, strong growth in FPAUM, robust profitability metrics and favourable industry outlook Anand Rathi recommends subscribe for Long Term to the issue.

GEPL Capital highlights the company’s wholly owned subsidiary, Sekura India Management, supports asset operations, maintenance, monitoring, and efficiency improvement. On the valuation front, based on FY26 earnings, the issue is priced at a PE of 33. GEPL recommends subscribe to the issue.

Bajaj Broking highlights the company is an alternative investment management platform focussed on Indias real assets and private credit markets. On the valuation front, the company is valued at a PE of 40 based on FY26 earnings. Bajaj Broking recommends subscribe to the issue.

Ventura Securities Ltd giving subscribe recommendation to the IPO highlights, EAAA India Alternatives has delivered healthy growth in recent years, supported by rising alternative investment allocations and expansion in its fee-paying asset base. Revenue from operations increased from INR 492.6 crore in FY24 to INR 670.3 crore in FY25 and INR 869.5 crore in FY26, while PAT increased from INR 175.2 crore to INR 229.8 crore and INR 265.2 crore, respectively. Total AUM increased from INR 54,679 crore in FY24 to INR 59,629 crore in FY25 and INR 72,706 crore in FY26, before rising further to INR 95,345 crore as of June 2026. In FY26, EBITDA excluding other income stood at INR 323.3 crore, translating into an EBITDA margin of 37.2%, while PAT margin stood at 30.5%, reflecting the asset-light and fee-driven nature of the business.

EAAA India Alternatives IPO is open for subscription and closes on October 28, 2026. The price band is kept at Rs 1585 per equity share to Rs 1665 per equity share, and the Investors can bid for a minimum of 9 Equity Shares and in multiples of 9 Equity Shares thereafter.

*Dr. Niyati Mahesh Mhatre Achieves Milestone, Officially Earning Master of Surgery in Obstetrics & Gynaecology*

MUMBAI / PUNE — In a proud and inspiring milestone for aspiring healthcare professionals, Dr. Niyati Mhatre has officially completed her post-graduate medical specialization, earning her Master of Surgery (MS) degree in Obstetrics and Gynaecology (OBGY).

The achievement marks the culmination of years of rigorous clinical residency, academic dedication, and front-line maternal healthcare service.

Obstetrics and Gynaecology is widely recognized as one of the most demanding clinical disciplines in modern healthcare, requiring round-the-clock emergency obstetric care, surgical acumen, and compassionate patient handling. Throughout her training, Dr. Mhatre actively engaged in bedside patient management, labour room duties, and critical neonatal transitions.

Family members, colleagues, and well-wishers took to social media to celebrate her success, expressing heartfelt emotions over her journey. "Today is one of the proudest days of our lives. Seeing you becoming MS OBGY and living your dream is a blessing beyond words," read a tribute shared in her honour.

With maternal health and specialized women’s healthcare remaining top priorities in India's medical sector, the induction of dedicated young specialists like Dr. Niyati Mhatre reinforces the standard of care available to mothers and newborns alike.

RoyalSandurforaysintoMedicalDevicesandConsumables;RoyalSandur

MedTechleaseslandatAndhraPradeshMedTechZone,Visakhapatnam

The SandurManganese & IronOres Limited (‘SMIORE’ or ‘the Company’), the flagship companyof the Royal Sandur Group,has taken a decisive step towardsits forayinto the Medical Devices and Consumables business. Royal SandurMedTech Private Limited, awholly owned subsidiary of the Company,has taken land on a long-term lease at the Andhra Pradesh MedTech Zone (‘AMTZ’), Visakhapatnam,India’spremiermedicaltechnologyparkwithcommonmanufacturingfacilitiesand scientific facilities.

Theleasedeedwas executedon 19October 2026between Royal Sandur MedTechPrivateLimited and Andhra PradeshMedTech ZoneLimited, theGovernment ofAndhraPradeshundertaking that owns and operates AMTZ, for setting up a manufacturing unit atAMTZ. Royal Sandur MedTech Private Limited has also taken office space at World Trade Center AMTZ to support project development. Key terms of the land lease are as follows:

Developedlandmeasuring6.2 acres(about25,090square metres),withroad,power,water and effluent infrastructure provided by AMTZ

Leasetenure of33 yearsfrom thedateof execution, withan exclusiveright toconvertthe leaseholdrights intofreeholdownershipafter 10 yearsfromthedateofcommissioningof business

This marks a concrete move by SMIORE towards new frontiers, as partof itscomprehensive diversificationstrategy.Furtherdetailsonthe capitalexpenditureplansandprojecttimelineswill be announced in due course.

Commentingonthedevelopment,BahirjiA.Ghorpade,ManagingDirector,SMIORE,said:

“Our diversification strategy is about building new engines of growth alongside our core mining and metals businesses. Medical Devices and Consumables sector offers considerable opportunities for domestic manufacturing to grow, and the Andhra Pradesh MedTech Zone, with its common manufacturing and scientific facilities, gives a new entrant the right platformtobuildcapabilities in a focused and capital-efficient manner. Securing this land is the first concrete step in this journey, andwe intend to pursue it with the same discipline that has defined our enterprise over seven decades.”

Welcoming Royal SandurMedTechto theecosystem,Dr. JitendraSharma, ManagingDirector & Founder CEO, Andhra Pradesh MedTech Zone (AMTZ), said:

“We were pleased to welcome Royal Sandur MedTech to the AMTZ ecosystem. Their investment reflected the growing confidence of Indian industry in the nation’s medical technology manufacturing capabilities and reinforced AMTZ’s role as a catalyst for innovation, indigenous manufacturing, and globalcompetitiveness. Such collaborations continue toaccelerateIndia’s journey towards becoming a global hub for medical technology manufacturing and healthcare innovation.”

AboutTheSandurManganese &IronOresLimited

The Sandur Manganese& Iron Ores Limited(“SMIORE”) isoneofIndia’smost respected private sector merchantminers and commodity producerswithan operational track record spanning over seven decades. At present, the Company’s operations span over three business segments i.e., Mining(Manganese & Iron Ores), Ferroalloys, and Coke and Energy. Further, the Companyhas presence in specialty steel sector through its material subsidiaryRoyal Sandur Metals Private Limited, which is the leading independent SBQ players in the country. Together, these assets work in conjunction with eachother to leverage the benefits of being anintegrated Company.

AboutRoyalSandurGroup

AsSMIORE’s operationshavegrown acrossmining,ferroalloys, cokeandenergy, andsteel,the Companyhasadopted a unified Groupbrand name, ‘RoyalSandurGroup’, andits logo, to supportits long-termstrategic visionandenableit to explorediversebusinessopportunities.Thename carriesforward theCompany’s royal heritage and its enduring bond with Sandur, built over seven decades of enterprise. Under thisunified banner, each business entityretains its own focus while contributing to one corporate identity, presenting the organisation to customers, investors and communities as a single,integratedgroup.

Sahajanand Medical Technologies Limited’s IPO listed at Rs 371.15 on the exchange, reaches a high of Rs 409.95

Mumbai - October 23, 2026: Shares of Surat-based Sahajanand Medical Technologies Limited, the Company has built a strong clinical foundation for its flagship products – Supraflex Cruz, Hydra, Sironity Drug-coated PTCA Balloon, Pipit and Cocoon, supported by 75 clinical studies (comprising 66 completed studies and 09 ongoing studies), as of June 30, 2026, across diverse geographies and patient populations was listed at Rs 368.05 on the BSE with a premium of 7% to the IPO price.

The scrip reached a high of Rs 409.95 on the NSE, and Rs 409.95 on the BSE.

The scrip closed at Rs 377.65 on the NSE and Rs 375 on BSE.

As per NSE, the total quantity traded stood at 13.02 lakh shares, on BSE the total Quantity stood at 174 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 709.55 crore.

The Market Capitalisation of the Company at today’s closing price stood at Rs 3,844.28 crore as per BSE and Rs. 3,838.69 crore as per NSE.

The issue received bids of 13,84,72,771 equity shares against the offered 97,50,482 equity shares, according to data available on the stock exchanges.

Qualified Institutional Buyers (QIB) and Retail Portion were subscribed 34.70 times and 3.03 times, respectively. Non-Institutional Investors (NII) portion was subscribed 14.64 times whereas the employee reserved portion subscribed 0.37 times.

About the Company

The Company was formed as a partnership firm in 1999, and thereafter incorporated as a joint stock company in 2001. The Company is a Class III and Class C/D medical devices company with a portfolio of technologically advanced medical devices across vascular and structural heart intervention. According to the report titled “Independent Market Research on Cardiovascular Devices Market” dated September 30, 2026, prepared and released by Frost & Sullivan (the “F&S Report”), the Company was the first in the world to receive a CE certification for a DES with a biodegradable polymer- based paclitaxel-eluting stent (Infinnium). Over the years, the Company has introduced several innovative products, driven by its focus on research and development and precision manufacturing capabilities enabling it to deliver quality products backed by clinical data, with a presence across 65 countries including India in the three months ended June 30, 2026 and 77 countries including India in Fiscal 2026.

It is a R&D-driven company engaged in the development of Class III and Class C/D medical devices, with an emphasis on vascular intervention (VI) and structural heart (SH). Its portfolio of VI products includes coronary intervention products such as coronary stents and coronary balloons, SH products include TAVI and occluders, and others including its own brand of renal stents, peripheral DCBs and other trading products.

Flipkart’s Big Billion Days Brings in More Users and Orders, with Buyer Growth Across Categories

Orders, units and buyers each grew about 20%-22% over last year

About 9 in 10 of India’s online shoppers visited Flipkart during the sale

Unique visitors up nearly 10%

Beauty, Grooming and General Merchandise buyers up 40%

Bengaluru, October 21, 2026: The Big Billion Days opened on October 9 with 1 in 15 of India’s online shoppers visiting Flipkart in the first hour. Over the 11 days that followed, about 9 in 10 of them did, with unique visitors up nearly 10% on last year. Orders, units and buyers each grew by about 20%-22% over last year.

The growth cut across cities, age groups and categories. Nearly half of buyers were Gen Z, about 60% came from Tier 2-plus cities, and Beauty, Grooming and General Merchandise buyers rose 40%. 

What India bought:

Beauty, Grooming and General Merchandise buyers rose 40% and Lifestyle buyers rose 12.5%. Large Appliances grew 30% year on year in the opening hour, and demand for big-ticket items ran at nearly 9 times a normal period through the sale. The festive basket spanned everyday self-care, fashion and big upgrades.

New customers on Flipkart Minutes rose 1.7 times compared with regular days. Chhatrapati Sambhajinagar, Nagpur, Jabalpur and Meerut were among the fastest-growing Tier 2-plus markets, and customers bought well beyond daily essentials, including laptops, gaming tablets and air fryers.

Sellers and MSMEs:

31% of transacting sellers saw 2X growth over business as usual during the sale. Sellers from Tier 2-plus markets grew 2.15 times, with Bhiwadi, Panipat, Tirupur and Hisar growing 2.6 times, 2.5 times, 2.1 times and 2 times respectively.

The opening hour showed how deeply festive shopping online has taken root in India. Eleven days later, that has held across cities, categories and sellers.

About the Flipkart Group

The Flipkart Group is one of India’s leading digital commerce entities with a strong technology-first foundation and includes group companies Flipkart, Myntra, Flipkart Wholesale, Cleartrip, and super.money. Established in 2007, Flipkart has enabled millions of sellers, merchants, and small businesses to participate in India's digital commerce revolution. With a registered user base of more than 500 million, Flipkart’s marketplace offers over 150 million products across 80+ categories. Today, there are over 1.4 million sellers on the platform, including Shopsy sellers. With a focus on empowering and delighting every Indian by delivering value through technology and innovation, Flipkart has pioneered services such as Cash on Delivery, No Cost EMI, Easy Returns, and UPI payments. Beyond shopping, Flipkart continues to create jobs, empower entrepreneurs, and strengthen India’s digital economy. 

Falguni Pathak Brings the House Down at Alphonso Studios and TribeVibe Day 6 Amba Maa Celebrations at Jio World Convention Centre

The Amba Maa celebrations continued in grand style at the Jio World Convention Centre in BKC, Mumbai, as Alphonso Studios and TribeVibe brought another spectacular evening of music, devotion and high-energy Garba to the city on Day 6, featuring the iconic Garba Queen Falguni Pathak.*The Evening saw the presence of Priyanka Chaturvedi, Rupali Ganguly, Arjun Bijlani, Amyra Dastur, Jibraan Khan, Naila Grrewal, Manasi Parekh, Delnaaz Irani, Alpana Buch & Many More the evening brought together entertainment, music and tradition in a vibrant celebration of Navratri, capturing the festive fervour, cultural spirit and sense of togetherness that make the Amba Maa celebrations so special*. 

With Alphonso Studios and TribeVibe bringing the festivities to life, the evening celebrated the timeless appeal of Garba and its deep-rooted connection with the Amba Maa celebration. Falguni Pathak, synonymous with these festivities, added to the excitement with her much-loved songs, drawing enthusiastic participation from the crowd and creating an atmosphere filled with devotion, dance and festive cheer.

*Speaking about the occasion, the organisers said* , “ _Every day of the Amba Maa celebration holds a special significance, bringing people together through devotion, music and celebration. Garba is an emotion that connects us to our traditions and the blessings of Maa Amba. It was wonderful to celebrate this beautiful tradition through music and dance, surrounded by the enthusiasm and love of people. May Maa Amba bless everyone with happiness, positivity and prosperity.”_

The Day 6 Amba Maa celebration reflected the true spirit of the festivities, bringing together people from different walks of life through their shared love for Garba and devotion to Amba Maa. With Falguni Pathak’s electrifying performance adding to the festive fervour, the evening celebrated the cultural significance of the occasion and the traditions that make these nine days so special.

The celebrations at the Jio World Convention Centre continue to honour the spirit of the Amba Maa celebration through music, dance and devotion, making it a memorable gathering for Garba lovers and devotees alike.

Bajaj Broking Launches Algorithmic Trading Platform, Bringing Strategy Creation and Automated Execution Together

The web and app-based platform offers ready-made strategies, custom strategy-building tools and risk management features

Pune, October 13: Bajaj Broking, a full-service stockbroker, today announced the launch of its algorithmic trading platform, enabling users to access ready-made, exchange-registered strategies or build customised trading strategies using a range of technical indicators and predefined trading conditions.

The platform brings strategy discovery, customisation, automated execution and trade monitoring into a single interface. Users can explore available strategies, review their objectives, risk profile and margin requirements, and choose to subscribe based on their individual preferences and risk considerations.

For users looking to build their own strategies, the platform offers a strategy builder with configurable indicators, entry and exit conditions, execution parameters and position sizing. Users can define parameters such as trading direction, operating hours and trading days, and configure target, stop-loss and trailing stop-loss mechanisms in line with their strategy requirements.

Risk management is integrated into the platform through configurable controls at both strategy and account levels. Users can set maximum profit and loss thresholds, limit the number of trades for a strategy, and pause individual strategies or stop algorithmic trading through a dedicated stop control. The platform also provides a consolidated view of open positions, pending orders, trade history, execution details and strategy signals, enabling users to monitor activity and execution status.

Ready-made strategies include exchange-registered black-box strategies offered by SEBI-registered Research Analysts, while customised strategies are built using exchange-registered white-box indicators. Strategy information, applicable disclosures and consent requirements are presented as part of the subscription process.

Commenting on the launch, Anurag Misra, Chief Technology Officer, Bajaj Financial Securities Limited, said, "With this launch, we are expanding the range of tools available to users to participate in the markets with greater flexibility and control. By bringing ready-made strategies and custom strategy-building capabilities alongside risk management and trade monitoring, we aim to make rule-based trading more accessible, with clear visibility of their strategies' activity and execution. Our focus remains on building technology-led solutions with transparency and informed decision-making at the core of the experience."

The launch marks another step in Bajaj Broking's continued investment in its digital trading capabilities, supporting a more structured approach to market participation.

MEN OF PLATINUM EXPANDS ITS COLLECTION WITH NEW DESIGNS FOR EVERY EXPRESSION OF MODERN SUCCESS

 

Mumbai: Platinum Guild International (PGI) India has unveiled a new Men of Platinum collection featuring chains, pendants, bracelets and rings designed for men at different stages of their journey. Endorsed by Rohit Sharma and Anirudh Ravichander in the brand's new campaign, the collection brings to life a central belief: enduring success is forged through character—the conviction to forge your own path, the resilience to keep moving forward, and the values that give achievement lasting meaning.

 

The collection broadens the world of Men of Platinum, bringing together bold, statement platinum jewellery with lighter, contemporary designs created for more frequent wear. Sculpted forms, geometric surfaces, interlocking links and considered contrasts of colour and finish create distinct expressions of personal style—from pieces that mark achievement and stature to those that become part of a man's identity.

 

Rohit Sharma’s composure and leadership speak to character & values that sustain success. Anirudh Ravichander’s self-belief and willingness to keep evolving speak to character that builds success. Their distinct journeys offer a way to connect the jewellery to the choices and values of the men who wear it. At the heart of every piece is platinum, a precious metal known for its ability to endure. It’s strength, naturally white colour provide the foundation for designs ranging from substantial statement pieces to refined everyday jewellery—each created to reflect the character of the man who wears it.

 

Rohit Sharma said: “Platinum is known for its enduring strength, and I think that makes it a powerful symbol of the character it takes to keep moving forward, no matter what comes your way. I have always believed that while success is important, how you get there matters just as much. The decisions you make under pressure, how you respond when things don’t go your way, and how you bring people along with you - that says a lot about who you are. That idea of character is something I connect with strongly in Men of Platinum.”

 

Anirudh Ravichander said: “For me, success has always been about believing in yourself, creating your own path and continuing to evolve. There will always be opinions about what you should do or who you should be, but having the conviction to stay true to yourself is what really matters. That idea of character is something I connect with strongly in Men of Platinum. Platinum is known for its enduring strength, and to me, that makes it a powerful symbol of the inner strength it takes to keep believing, creating and moving forward.

Vaishali Banerjee - Head of Global Market Development and Managing Director - India & ME, Platinum Guild International, said: “Men are wearing jewellery in more ways and at more moments in their lives. With this collection, we are extending Men of Platinum from statement pieces for established achievers to design-forward options for younger men developing their own sense of style. It is a wider expression of platinum’s place in the men’s jewellery category. The designs bring Men of Platinum’s values to life in a tangible way. Further, Rohit Sharma and Anirudh Ravichander – who are icons for a vast cross-section of Indian men today, wear pieces that speak to their different styles and journeys, while the collection as a whole connects platinum’s ability to endure. Its lasting strength speaks to the character behind enduring success.”

Bayer’s DirectAcres program scales to over 200,000 acres, advancing resource-efficient rice cultivation in India

The initiative has grown from 3,500 hectares in 2023 to over 81,000 hectares in 2026, supporting farmers in transitioning to Direct Seeded Rice through an integrated cropping-system approach.

Mumbai, October 13, 2026: Bayer has expanded its DirectAcres initiative to over 81,000 hectares (more than 200,000 acres) in 2026, marking a significant milestone in its efforts to advance resource-efficient rice cultivation in India. The initiative reflects Bayer’s commitment to helping farmers adapt to evolving agricultural challenges through solutions that balance productivity, farm economics and the efficient use of natural resources.

Rice cultivation in India is at an inflection point. Increasing pressure on water resources, rising cultivation costs and persistent labour shortages are challenging the viability of conventional transplanting methods. Direct Seeded Rice (DSR), which involves sowing seeds directly into the field, offers an alternative with the potential to reduce water use by up to 30-40%, greenhouse gas emissions by up to 45% and reliance on manual labour by up to 50%, compared with conventional transplanted rice. Actual outcomes can vary by geography, cultivation practice and farm conditions. Alongside these resource benefits, DSR can help lower cultivation costs, reduce drudgery and improve operational efficiency, strengthening the value proposition for farmers.

DirectAcres addresses these challenges through a cropping-system approach rather than treating DSR as a standalone technology. Bayer brings together its capabilities in Seeds & Traits, Crop Protection, Digital Farming Solutions and agronomy with tailored mechanization and digital advisory to support farmers through the transition. The model connects farmers and local agri-entrepreneurs with mechanization partners, digital advisory and public- and private-sector stakeholders, helping create the enabling ecosystem needed for adoption at scale. By addressing challenges such as weed management, machinery access and crop establishment, the initiative aims to make DSR more accessible and economically viable for smallholder farmers, while encouraging more efficient and resilient farming practices across the broader cropping system.

Commenting on the milestone, Simon Wiebusch, Country Divisional Head, Crop Science Division of Bayer for India, Bangladesh & Sri Lanka said, “Reaching more than 200,000 acres is more than a growth milestone. It demonstrates that Direct Seeded Rice can be scaled across diverse geographies and farming conditions when farmers have access to the right technologies, services and support. DirectAcres brings together Bayer’s integrated capabilities across seeds, crop protection, digital solutions and agronomy to enable this transition. Our ambition is to help farmers improve profitability and operational efficiency while advancing more resource-efficient rice production in India.”

Since its pilot in 2021, DirectAcres has scaled rapidly from 3,500 hectares in 2023 to 17,000 hectares in 2024, 46,000 hectares in 2025 and more than 81,000 hectares in 2026. Its presence across Punjab, Haryana, Uttar Pradesh, Bihar, Jharkhand, Odisha, Chhattisgarh, Madhya Pradesh and Maharashtra demonstrates the adaptability of the model across different rice-growing geographies and farming conditions. Through the initiative, Bayer aims to support farmers in navigating the transition to DSR with the right combination of technologies, agronomic expertise and on-ground support.

DirectAcres is part of Bayer’s broader regenerative agriculture ambition to advance productive, resource-efficient and resilient farming systems. Bayer will continue to expand the initiative’s capabilities and partnerships to help scale resource-efficient rice systems in India and create long-term value for farmers.

Sahajanand Medical Technologies Limited’s Initial Public Offering of Equity Shares to Open on Thursday, October 15, 2026, Price Band Set at Rs 327 – Rs 344 Per Equity Share

Mumbai, October 12, 2026: Sahajanand Medical Technologies Limited (“Company”) has fixed the price band at Rs 327/- to Rs 344/- per Equity Share for its initial public offering of Equity Shares.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Thursday, October 15, 2026, for subscription and close on Monday, October 19, 2026.

Investors can bid for a minimum of 43 Equity Shares and in multiples of 43 Equity Shares thereafter.

Equity shares outstanding as on date 101,646,778 Equity Shares.

The IPO comprises an offer for sale of up to 13,822,116 Equity Shares of face value of Re 1 each by the Company’s Promoter, Shree Hari Trust; a member of the Promoter Group, Dhirajkumar Savjibhai Vasoya; and the following Investor Selling Shareholders: Samara Capital Markets Holding Limited, Kotak Pre-IPO Opportunities Fund and NHPEA Sparkle Holding B.V.

The offer includes a reservation of up to 250,000 Equity Shares for subscription by eligible employees (the “Employee Reservation Portion”). The Offer less the Employee Reservation Portion is referred to as the “Net Offer”.

The Offer is being made through the book-building process, in line with SEBI ICDR Regulations, with not more than 50% of the Net Offer reserved for Qualified Institutional Buyers (QIBs), not less than 15% of the Net Offer for Non-Institutional Bidders (NIBs), and not less than 35% of the Net Offer for Retail Individual Bidders (RIBs).

The Company was formed as a partnership firm in 1999, and thereafter incorporated as a joint stock company in 2001. The Company is a Class III and Class C/D medical devices company with a portfolio of technologically advanced medical devices across vascular and structural heart intervention. According to the report titled “Independent Market Research on Cardiovascular Devices Market” dated September 30, 2026, prepared and released by Frost & Sullivan (the “F&S Report”), the Company was the first in the world to receive a CE certification for a DES with a biodegradable polymer- based paclitaxel-eluting stent (Infinnium). Over the years, the Company has introduced several innovative products, driven by its focus on research and development and precision manufacturing capabilities enabling it to deliver quality products backed by clinical data, with a presence across 65 countries including India in the three months ended June 30, 2026 and 77 countries including India in Fiscal 2026.

It is a R&D-driven company engaged in the development of Class III and Class C/D medical devices, with an emphasis on vascular intervention (VI) and structural heart (SH). Its portfolio of (i) VI products includes coronary intervention products such as coronary stents and coronary balloons, (ii) SH products include TAVI and occluders, and (iii) Others including its own brand of renal stents, peripheral DCBs and other trading products.

According to the F&S Report, the Company has a leading market share in the drug eluting stents (DES) market in India, with a market share of nearly 25% in Fiscal 2026 of the total DES sales volume in India. Further, according to the F&S Report, it is among the top five companies in terms of market share by sales volume of DES in Germany, Spain, Poland and Brazil, as of March 31, 2026. Additionally, it is among the top five companies in terms of market share by sales volume of occluders in Thailand, South Korea and India, as of March 31, 2026.

The Company’s strategy centres on continuous innovation, expanding its product portfolio, enhancing existing products, and exploring new technologies to address evolving clinical and market needs. As of June 30, 2026, it has two R&D centers – one in India and another in Thailand, supported by a team of 156 professionals (including four consultants), each with experience in biomedical engineering, technology development, and clinical research. 

Additionally, the Company has built a robust intellectual property portfolio, with 119 patents granted globally, 78 more patent applications in the pipeline, and five design registrations in India as of the date of the Red Herring Prospectus. 

The Company’s R&D efforts have resulted in an industry first and product enhancements. Additionally, the Company has developed a patented AVDC system for its Hydra TAVI, improving deliverability, after the acquisition of Vascular Innovations. The next generation of AVDC received CE approval in Fiscal 2026. 

The Company has built a strong clinical foundation for its flagship products – Supraflex Cruz, Hydra, Sironity Drug-coated PTCA Balloon, Pipit and Cocoon, supported by 75 clinical studies (comprising 66 completed studies and 09 ongoing studies), as of June 30, 2026, across diverse geographies and patient populations. The Company’s commitment to quality is reflected in its distinction as one of the few Indian medtech companies with results of key clinical trials on products published in top-tier journals such as The Lancet (impact factor 109) and NEJM (impact factor 84.5), according to the F&S Report. Further, Supraflex Cruz has been shown to offer better deliverability and clinical outcomes than the DES of leading competitors, while Hydra and Cocoon stand out among the Company’s peers for their advanced features and safety profiles, according to the F&S Report.

The Company has marketed its products in 77 countries including India in Fiscal 2026, through a mix of direct, hybrid, and distributor-led models, adapting to local regulatory and market conditions. In India, through its hybrid model, it caters to large hospitals, including Narayana Hrudayalaya Limited. In Europe, it has direct operations in Germany, Spain, France and UK, successfully navigating complex regulatory and procurement environments. 

As on the date of the Red Herring Prospectus, the Company and its Subsidiaries have three manufacturing facilities, two located in India and one in Thailand. 

The Company’s revenue from operations was Rs 3,516.69 million during the three months’ period ended June 30, 2026, and it had a profit after tax of Rs 150.87 million during this period.

The Company’s revenue from operations was Rs 12,105.04 million during FY26 as compared to Rs 10,248.79 million during FY25. The Company’s profit after tax was Rs 690.82 million during FY26 as compared to Rs 251.52 million during FY25. 

Motilal Oswal Investment Advisors Limited, Avendus Capital Private Limited, HSBC Securities and Capital Markets (India) Private Limited and Nuvama Wealth Management Limited are the book-running lead managers to the Offer, and MUFG Intime India Private Limited is the registrar to the Offer.