SME IPO: Medistep Healthcare's Rs 16-cr public issue to open on Aug 8
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Pharmaceutical firm Medistep Healthcare is set to raise a little over Rs 16 crore through its initial public offering ( IPO ), which opens for subscription on August 8.The company's maiden public issue will conclude on August 12. The shares are scheduled to be listed on the NSE SME platform on August 18, Medistep Healthcare said in a statement.The IPO comprises 37.44 lakh equity shares priced at a fixed Rs 43 per share, aggregating to a total issue size of Rs 16.09 crore. Following the listing, the company is expected to have a market capitalisation of Rs 61.10 crore.The company will utilise the proceeds of the IPO for purchase of plant and machinery for expansion of its existing manufacturing facility, working capital requirements and general corporate purposes."Proceeds from the IPO will strategically support our expansion efforts and reinforce our footprint in both domestic and international markets," Girdhari Lal Prajapati, Managing Director at Medistep Healthcare, said.The company is in the business of manufacturing sanitary pads & energy powder, and trading of a diverse range of pharmaceutical products, nutraceutical products, intimate products and surgical products through a distribution network.On the financial front, the company recorded revenue from operations of Rs 49.65 crore in FY25, an increase from Rs 39.07 crore in the preceding fiscal. Its profit after tax (PAT) also rose to Rs 4.14 crore in FY25, compared to Rs 3.33 crore in the previous financial year.Fast Track Finsec is the sole lead manager of the public issue while Cameo Corporate Services is the registrar to the issue.
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