Medistep Healthcare Limited is a dynamic and innovative pharmaceutical company that has established a strong presence in the healthcare industry. Known for its manufacturing of sanitary pads, energy powder, and trading of diverse pharmaceutical products, the company is dedicated to enhancing the well-being of individuals across the globe. Over time, it has built a reputation for delivering high-quality products and exceptional customer service.

The company is managed by a professional and experienced leadership team, comprising Mr. Girdhari Lal Prajapat, Mr. Dabhi Vipul Gobarbhai, and Ms. Prajapati Hetalben Girdharilal. These promoters bring extensive industry knowledge and have been instrumental in setting up the company’s core value system. Their strategic vision is driving the business forward in the competitive pharmaceutical space.

IPO Details

The Medistep Healthcare IPO is a Fixed Price Issue amounting to ₹16.09 crore, entirely comprising a fresh issue of 37.44 lakh shares. The subscription window opened on August 8, 2025, and closed on August 12, 2025. The IPO price has been fixed at ₹43 per share, giving the company a market capitalisation of ₹61.10 crore at the issue price.

The lot size is 3,000 shares, requiring a minimum investment of two lots (6,000 shares) amounting to ₹2,58,000 for retail investors. The lead manager for the issue is FAST TRACK FINSEC PRIVATE LIMITED, the registrar is CAMEO CORPORATE SERVICES LIMITED, and the market maker is Nirman Share Brokers Private Limited.

Subscription Status

On the final day of the IPO subscription period, the Medistep Healthcare IPO witnessed overwhelming demand, being subscribed 356.34 times as of 7:00 PM on August 12, 2025. This reflects strong investor interest in the offering, particularly in the SME segment.

Grey Market Premium (GMP) and Listing Outlook

The GMP for the IPO stood at ₹4, indicating a potential listing price of ₹47 and an expected gain of 9.30% over the issue price. However, experts caution that GMP movements are influenced by unorganised market activity and may not be a reliable predictor of actual listing performance.

The tentative listing date for the IPO is August 18, 2025, on the NSE SME platform.

Allotment Date and How to Check Allotment

The allotment date for the Medistep Healthcare IPO is August 13, 2025. Investors can check their allotment status on the registrar’s official website by:

1. Selecting Medistep Healthcare Limited IPO from the dropdown menu.

2. Entering their application number, PAN, or DP Client ID.

3. Submitting the details to view allotment status.

Financial Performance

Medistep Healthcare has shown consistent growth in recent years:

• Revenue from operations: ₹4,965.85 lakh (FY25), ₹3,162.52 lakh (FY24), ₹2,773.69 lakh (FY23).

• EBITDA: ₹560.11 lakh (FY25), ₹396.62 lakh (FY24), ₹142.91 lakh (FY23).

• Profit After Tax (PAT): ₹414.42 lakh (FY25), ₹291.35 lakh (FY24), ₹92.10 lakh (FY23).

Key metrics:

• 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%

These strong ratios indicate a healthy business model with efficient capital utilisation.

Use of IPO Proceeds

The net proceeds will be allocated as follows:

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

2. ₹1,234.17 lakh – Working capital requirements.

3. ₹164.01 lakh – General corporate purposes.

4. Covering issue expenses.

Expert View

Given its solid financial performance, efficient operations, and reasonable pricing compared to industry peers, Medistep Healthcare has attracted strong investor attention. However, due to the SME nature of the IPO and its smaller market cap, experts recommend participation only for risk-tolerant investors seeking short-term listing gains.

The strong subscription numbers signal market optimism, but investors should remain aware of post-listing volatility risks.

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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