The present invention discloses a multi-stage process for yielding bioabsorbable stents with enhanced shelf life. The process includes annealing a scaffold obtained from the deformed tube, coating the annealed scaffold in low humidity environment, crimping the coated scaffold, packaging the scaffold and then sterilizing the crimped scaffold. The annealing includes heating the scaffold at 100- 150o C in vacuum for 10-24 hrs, and cooling the heated scaffold in the presence of an inert gas for 3-6 hrs to ambient temperature to form an annealed scaffold. The annealed scaffold has molecular weight Mw range of 320000 g/mol to 410000, Mn between 190000- 250000 g/mol and possesses narrow molecular weight distribution of poly dispersity index between 1.5 to 1.9. Each of the steps of the multi-stage process results in enhanced shelf-life of the bioabsorbable stents. FIG. 3 [IN201621045158A]
