Mumbai, June 18 -- Sahajanand Medical Technologies (SMT), a leading domestic manufacturer of cardiac stents, is set to file its draft papers with market regulator Sebi next month for a planned Rs.1,500-2,000 crore initial public offering (IPO), two people aware of the development told Mint.

The IPO is being led by Motilal Oswal, Avendus, Nuvama and HSBC, and will see existing investors such as Samara Capital, Kotak, and Morgan Stanley offloading their stakes, one of the people cited above said.

"The issue will have only an offer-for-sale component and the draft papers are expected to be filed in July with a potential listing by the end of this year," the second person said. This means that the IPO will not raise any fresh capital for SM...