Medistep Healthcare Limited is a dynamic pharmaceutical company known for manufacturing sanitary pads, energy powder, and trading a wide range of pharmaceutical products. With a focus on quality, innovation, and customer service, it has built a trusted market presence in India and globally.

IPO Size and Structure

• IPO Type: Fixed Price Issue

• Issue Size: ₹16.09 Crores

• Fresh Issue: 37.44 Lakh shares (100% Fresh Issue)

• Price per Share: ₹43

• Market Capitalisation at IPO Price: ₹61.10 Crores

• Lot Size: 3,000 shares

• Minimum Investment (Retail): 2 lots (6,000 shares) = ₹2,58,000

• Subscription Period: 8 Aug 2025 – 12 Aug 2025

• Allotment Date: 13 Aug 2025

• Tentative Listing Date (NSE SME): 18 Aug 2025

Lead Managers and Registrar

• Book Running Lead Manager: Fast Track Finsec Pvt Ltd

• Registrar: Cameo Corporate Services Ltd

• Market Maker: Nirman Share Brokers Pvt Ltd

GMP & Listing Expectations

As of 5 Aug 2025, the Grey Market Premium (GMP) is ₹4 (~9.30% expected listing gain).
Expected Listing Price: ₹47
⚠️ Note: GMP reflects informal market sentiment and can change before listing.

Live Subscription Status (Day 2 - 11 Aug 2025, 11:00 AM)

• Overall Subscription: 30.39x
  (Real-time updates available on NSE’s IPO page.)

Objectives of the IPO

Proceeds from the IPO will be used for:

1. ₹50.75 Lakh – Purchase of new plant and machinery for expansion

2. ₹1,234.17 Lakh – Working capital requirements

3. ₹164.01 Lakh – General corporate purposes

4. Issue expenses

Financial Performance

Revenue from Operations:

• FY25: ₹4,965.85 Lakh

• FY24: ₹3,162.52 Lakh

• FY23: ₹2,773.69 Lakh

EBITDA:

• FY25: ₹560.11 Lakh

• FY24: ₹396.62 Lakh

• FY23: ₹142.91 Lakh

PAT:

• FY25: ₹414.42 Lakh

• FY24: ₹291.35 Lakh

• FY23: ₹92.10 Lakh

Key Ratios (FY24)

• Pre-Issue EPS: ₹4.01

• Post-Issue EPS: ₹2.92

• Pre-Issue P/E: 10.72x

• Post-Issue P/E: 14.74x

• Industry P/E: 69x

• ROCE: 38.91%

• ROE: 29.06%

• RoNW: 24.62%

Management

Promoters include Mr. Girdhari Lal Prajapat, Mr. Dabhi Vipul Gobarbhai, and Ms. Prajapati Hetalben Girdharilal, each with extensive pharmaceutical industry experience, guiding the company’s growth and expansion strategies.

Investor Recommendation

Given the strong financial growth, high subscription demand, and moderate GMP, this IPO may appeal to risk-tolerant investors seeking short-term listing gains.

Disclaimer
This article is for educational and informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and consultation with SEBI-registered advisors. Market conditions are volatile and subject to change. Neither the author nor the platform is responsible for losses arising from use of this information.

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