The Rs 16.10 crore IPO, which was open for subscription from August 8 to August 12, saw an overwhelming response, with an overall subscription of 382.14 times. The retail portion was subscribed to an exceptional 461.11 times, while Non-Institutional Investors (NII) subscribed 289.15 times.
Priced at Rs 43 per share, the issue was entirely a fresh issue of 37.44 lakh shares. The company plans to utilise the proceeds for working capital, purchase of plant and machinery for expansion, and general corporate purposes.
Incorporated in June 2023, Medistep Healthcare manufactures and trades a diverse range of products, including sanitary pads, nutraceuticals, pharmaceutical items, surgical supplies, and intimate care products.
For FY25, the company reported revenue of Rs 49.66 crore and profit after tax of Rs 4.14 crore, reflecting growth of 27% and 25% respectively over FY24.
While analysts note the company operates in a highly competitive and fragmented segment, the robust subscription figures and positive GMP signal strong investor appetite.All eyes will now be on the listing, where the stock is expected to debut at a healthy premium over the issue price.
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