Medistep Healthcare has opened its ₹16.10 crore initial public offering on the NSE SME platform, with shares priced at ₹43 each. The subscription window will close on August 12, 2025. The IPO consists entirely of a 37.44 lakh fresh equity share issue, with no offer-for-sale component.
Investor sentiment appears upbeat, with the grey market premium (GMP) touching 40% above the issue price, suggesting a potential listing price of around ₹60 per share.
The company operates in the pharmaceutical and wellness sector, manufacturing products such as sanitary pads, energy powders, nutraceuticals, and surgical items under well-known brands like DryStep and VitaStep Z. In FY25, Medistep recorded revenues of ₹49.66 crore, marking a 27% year-on-year increase, while profit after tax rose 25% to ₹4.14 crore.
Funds from the IPO will be used for plant and machinery purchases, working capital needs amounting to ₹12.34 crore, and other general corporate purposes. Fast Track Finsec is acting as the book-running lead manager, with Cameo Corporate Services serving as registrar.
