The Board of Directors approved an investment by Sahajanand Medical Technologies Ireland Limited (SMT Ireland), a wholly owned subsidiary of the company, in SNP Medical Corp, a US-based corporation registered in Delaware.
Acquisition Details
- Target Entity: SNP Medical Corp (SNP)
- Industry: Medical Device
- Transaction Type: Related party transaction (Yes)
- Related Party Interest: Ms. Priyanka Cohen (Promoter & Non-Executive Director of the Company) serves as a Director in SNP Medical Corp
- Transaction Basis: Arm's length basis
- Purpose: Diversification of product portfolio within the existing main line of business of the Company
- Government Approvals: Not applicable
- Completion Timeline: Tentatively by March 31, 2027
- Consideration Type: Cash consideration
- Acquisition Cost: Up to USD 780,000 (price per share to be determined based on valuation of SNP Medical Corporation)
- Shareholding Impact: SMT Ireland currently holds 14.15% stake in SNP Medical Corporation as of September 30, 2026. The new acquisition will increase the stake to up to 17.19%
Target Company Background
SNP Medical is a medical device startup based in the US, working on developing medical devices. The company was incorporated in Delaware on May 31, 2022.
Revenue History:
- 2025: USD 300,000
- 2024: USD 234,960
- 2023: USD 564,930
The disclosure was made pursuant to SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, and is available on the company's website at www.smtpl.com as well as on the websites of BSE Limited and National Stock Exchange of India Limited.
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