Despite its modest size, the issue has drawn notable market interest. The grey market premium (GMP) has surged to 40% over the issue price ahead of the listing, signalling strong investor appetite and potential for upside on debut. At a GMP of Rs 17, the implied listing price is around Rs 60 per share.
The IPO comprises a 100% fresh issue of 37.44 lakh equity shares, with no offer for sale component. Out of the total issue.
The issue is being led by Fast Track Finsec as the book-running lead manager, while Cameo Corporate Services is the registrar.
Medistep Healthcare is a pharmaceutical and wellness products company. It manufactures and trades a range of items including sanitary pads (DryStep brand), energy powder (VitaStep Z), nutraceuticals, pharmaceuticals, and intimate and surgical products.
The company claims to focus on affordable, quality-driven offerings tailored to essential healthcare and hygiene needs, and it plans to scale both manufacturing and trading verticals post-listing.The company posted revenues of Rs 49.66 crore in FY25, a 27% YoY increase, with PAT at Rs 4.14 crore, up 25%.The company intends to use IPO proceeds to fund plant and machinery purchases, meet working capital needs (Rs 12.34 crore), and for general corporate purposes.
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