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Hans India
a day ago
- Business
- Hans India
Medistep Healthcare IPO Fully Subscribed
The IPO of Medistep Healthcare Ltd, which makes sanitary pads and energy powders, was fully subscribed in just one hour on August 8. The IPO will close on August 12. Investors applied for 62.64 lakh shares, but only 37.44 lakh shares were for sale. This means the IPO was 1.67 times oversubscribed by 11:03 am on day one. The company wants to raise ₹16.10 crore by selling shares at ₹43 each. Minimum buying is two lots of 6,000 shares. The shares will be listed on NSE's SME platform called Emerge. The money will be used to buy new machines to grow the factory, pay for daily expenses, and other company needs. Medistep Healthcare's Managing Director, Girdhari Lal Prajapati, said the funds will help the company grow in India and other countries. The demand for health and hygiene products is rising. Important Dates:
News18
a day ago
- Business
- News18
Medistep Healthcare IPO opens for subscription at Rs 43 per share
Agency: PTI New Delhi, Aug 8 (PTI) The Initial Public Offering (IPO) of Medistep Healthcare, a manufacturer of sanitary pads and energy powders, opened for subscription at Rs 43 apiece. Medistep Healthcare is looking to raise Rs 16.10 crore through the initial share sale, which will remain open until August 12, the company said in a statement. The shares of the company will be listed on the NSE's SME platform Emerge, and the investors can bid for a minimum of 3,000 equity shares, it added. The IPO is entirely a fresh issue of equity shares of up to 37.44 lakh shares. Proceeds from the IPO will be utilised to fund capital expenditure towards the purchase of plant and machinery for expansion at the company's existing manufacturing facility, to meet working capital requirements, and to meet general corporate purposes. 'The proceeds from the IPO will strategically support our expansion efforts and reinforce our footprint in both domestic and international markets," Medistep Healthcare's MD Girdhari Lal Prajapati said. Founded in June 2023, Medistep is engaged in the manufacturing of sanitary pads and energy powders, and in the trading of pharmaceutical, nutraceutical, surgical, and intimate care products. The company reported revenue from operations of Rs 49.7 crore and profit after tax of Rs 4.14 crore in FY25. Fast Track Finsec is the sole book-running lead manager, while Cameo Corporate Services is the registrar for the issue. PTI HG DR DR PTI) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Economic Times
4 days ago
- Business
- Economic Times
SME IPO: Medistep Healthcare's Rs 16-cr public issue to open on Aug 8
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. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 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 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 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 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, 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 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 Track Finsec is the sole lead manager of the public issue while Cameo Corporate Services is the registrar to the issue.
News18
4 days ago
- Business
- News18
SME IPO: Medistep Healthcares Rs 16-cr public issue to open on Aug 8
Agency: PTI Last Updated: New Delhi, Aug 5 (PTI) 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. PTI SP SHW (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
