IPO Alert: Medistep Healthcare Opens IPO

The company plans to use the funds raised to purchase plant and machinery for its existing manufacturing facility, meet working capital requirements, cover general corporate expenses, and fund the issue-related costs.

Medistep Healthcare Limited, a rapidly growing pharmaceutical and healthcare company, has announced plans to raise Rs 16.09 crore through its Initial Public Offering (IPO), which opens for subscription on August 8 and closes on August 12.

The shares are slated to list on the NSE SME Emerge platform on August 18, 2025.

The fixed-price IPO is priced at Rs 43 per equity share, comprising 37,44,000 equity shares with a face value of Rs 10 each. The lot size has been set at 3,000 shares. Fast Track Finsec Private Limited is managing the issue, with Cameo Corporate Services Limited acting as the registrar.

Of the total shares on offer, 17,79,000 are reserved for retail individual investors, 17,76,000 for non-institutional investors, and 1,89,000 for the market maker portion. The company’s market capitalisation post-listing is expected to be Rs 61.10 crore.

“The proceeds from the IPO will strategically support our expansion efforts and reinforce our footprint in both domestic and international markets,” said Girdhari Lal Prajapati, Managing Director, Medistep Healthcare.

The company plans to use the funds raised to purchase plant and machinery for its existing manufacturing facility, meet working capital requirements, cover general corporate expenses, and fund the issue-related costs.

Founded in June 2023, Medistep Healthcare manufactures sanitary pads and energy powders and trades in pharmaceutical, nutraceutical, surgical, and intimate care products through an established distribution network. It expanded operations in 2024 by acquiring MG Pharma, a proprietorship concern.

In FY25, Medistep reported revenue from operations of Rs 49.65 crore, compared to Rs 39.07 crore in FY24. EBITDA increased to Rs 5.6 crore from Rs 4.54 crore, while profit after tax rose to Rs 4.14 crore from Rs 3.33 crore year-on-year.

The equity share capital will increase from 1,04,65,546 shares to 1,42,09,546 shares following the issue. The IPO valuation and strong financial growth reflect investor interest, further underscored by reports of a grey market premium of Rs 12 per share, suggesting potential listing gains of nearly 28%.

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