IPO Details
Bidding Dates
08 Aug '25 - 12 Aug '25
Minimum Investment
₹2,58,000/ 2 Lots (6,000 Shares)
Price Range
₹43 per share
Maximum Investment
₹2,58,000/ 2 Lots (6,000 Shares)
Retail Discount
To be announced
Issue Size
₹16.10 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) |Medistep Healthcare IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Aug 08, 25
IPO Closing Date
Aug 12, 25
Basis of Allotment
Aug 13, 25
Initiation of Refunds
Aug 14, 25
IPO Listing Date
Aug 18, 25
Medistep Healthcare IPO Subscription Details
| Date | NII | Retail | Total |
|---|---|---|---|
|
Day 1Aug 7, 2025 |
1.96 | 13.20 | 7.59 |
About Medistep Healthcare IPO
Medistep Healthcare IPO is a fixed price issue of ₹16.10 crore, comprising a fresh issue of 37.44 lakh equity shares. The IPO will open for subscription on August 8, 2025, and close on August 12, 2025. The basis of allotment is likely to be finalised on August 13, 2025.
The company is set to list its shares on the NSE SME platform, with a tentative listing date of August 18, 2025. The IPO is priced at ₹43 per share. Investors can apply in lots, with each lot consisting of 3,000 shares. For retail investors, the minimum investment required is ₹2,58,000 for 6,000 shares (2 lots).
For high net-worth individuals (HNIs), the minimum application size is 3 lots, or 9,000 shares, amounting to ₹3,87,000. Fast Track Finsec Private Limited is the book-running lead manager handling the IPO, while Cameo Corporate Services Limited serves as the registrar. Nirman Share Brokers Private Limited will act as the market maker for this issue.
For more comprehensive details, refer to the Medistep Healthcare IPO Draft Red Herring Prospectus (DRHP).
Industry Outlook
- India’s healthcare sector is experiencing robust growth, driven by rising demand, better coverage, and growing investments. The Indian hospital market, valued at US$ 98.98 billion in FY23, is expected to grow at a CAGR of 8%, reaching around US$ 193.59 billion by FY32.
- The medical devices industry, currently estimated at US$ 11 billion, is projected to reach US$ 50 billion by 2030, with a strong CAGR of 37%. Government support, increased FDI, and rising demand for diagnostics and treatment solutions are fuelling this growth.
- India’s cost advantage and skilled medical workforce also contribute to the rise in medical tourism and clinical trials, making the country a preferred healthcare destination.
Medistep Healthcare IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The company plans to use the funds to purchase new plant and machinery to expand its existing manufacturing unit.
- A portion of the proceeds will be used to meet the working capital needs for smooth daily operations.
- The issue will also support general corporate purposes, helping with business efficiency and growth.
- Part of the funds will be allocated to cover expenses related to the IPO process.
About Medistep Healthcare Limited
Medistep Healthcare Limited is a public pharmaceutical company incorporated on June 5, 2023, under the Companies Act, 2013. The company operates in the healthcare sector, focusing on both manufacturing and trading of pharmaceutical, nutraceutical, surgical, and intimate care products. It has built its business around two core areas: manufacturing sanitary pads and energy powders, and distributing a wide range of healthcare products across different categories.
In a strategic move to expand operations, Medistep Healthcare acquired the business of M/s MG Pharma, a proprietorship concern owned by one of its promoters, Ms. Prajapati Hetalben Girdharilal. This acquisition, completed through a business transfer agreement on July 2, 2023, enabled the company to integrate existing assets and operations into its own structure.
In January 2024, the company began manufacturing intimate hygiene and nutraceutical products. The company’s product range includes sanitary pads, energy supplements, over-the-counter medicines, health and nutrition products, personal hygiene items, and surgical equipment.
As of December 30, 2024, Medistep Healthcare reported annualised revenues of ₹45 crore and a profit after tax of ₹4.08 crore. It had nine employees on payroll, with operational support from daily wage labourers.
Medistep Healthcare is led by a professional management team and promoters with strong experience in the Indian pharmaceutical industry. Their guidance has helped the company establish a solid foundation in the market. With a commitment to quality and product expansion, the company aims to strengthen its presence in the growing healthcare and wellness sector.
How To Check the Allotment Status of Medistep Healthcare IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Medistep Healthcare IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Medistep Healthcare IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Medistep Healthcare IPO
Registered office: 05, S. No-245/B, Plot-19, T.P.S. 56, Free Way Trade Center, Nr.A-One Hotel, N.H.-8, Narol Gam, Narol, Ahmadabad City, Daskroi, Gujarat, India, 382405
Phone: +91 87808 46963
E-mail:Info@medistephc.com
Medistep Healthcare IPO Reservation
|
Investor Category |
Shares Offered |
|
Market Maker Shares |
1,89,000 (5.05%) |
|
NII (HNI) Shares |
17,76,000 (47.44%) |
|
Retail Shares |
17,79,000 (47.52%) |
|
Total Shares |
37,44,000 (100.00%) |
Medistep Healthcare IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
2 |
6,000 |
₹2,58,000 |
|
Individual investors (Retail) (Max) |
2 |
6,000 |
₹2,58,000 |
|
HNI (Min) |
3 |
9,000 |
₹3,87,000 |
Medistep Healthcare IPO Promoter Holding
The promoters of the company are Girdhari Lal Prajapat, Dabhi Vipul Gobarbhai, Prajapati Hetalben Girdharilal and Jagdish Prajapati.
|
Share Holding Pre-Issue |
93.62% |
|
Share Holding Post Issue |
68.96% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Medistep Healthcare IPO
|
KPI |
Value |
|
ROE (%) |
52.14 |
|
RoCE (%) |
69.15 |
|
RoNW (%) |
52.14 |
|
PAT Margin (%) |
8.52 |
|
Current Ratio |
4.64 |
|
EBITDA Margin (%) |
11.62 |
Medistep Healthcare IPO Prospectus
Medistep Healthcare IPO Registrar and Lead Managers
Medistep Healthcare IPO Lead Managers
- Fast Track Finsec Private Limited
Registrar for Medistep Healthcare IPO
Cameo Corporate Services Limited
- Contact Number: +91-44-28460390
- Email Address: ipo@cameoindia.com
Medistep Healthcare IPO Registrar
Financial Performance of Medistep Healthcare Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 3,907.19 | 2,764.68 | 762.44 |
| Profit/loss After Tax (in ₹ lakh) | 332.76 | 92.10 | 18.97 |
| Net Worth (in ₹ lakh) | 1,169.06 | 107.24 | 33.11 |
| Current ratio (x) | 4.64 | 1.10 | 1.11 |
| Return on Equity (%) | 52.14 | 131.24 | 74.47 |
| Return on capital employed (RoCE) (%) | 69.15 | 109.62 | 40.48 |
| EBITDA (in ₹ lakh) | 454.20 | 133.91 | 35.76 |
Know before investing
Strengths
8-
Led by experienced promoters with strong industry knowledge and strategic business insight.
-
Scalable business model driven by customer orders and efficient resource utilisation.
-
Offers diverse products like DRYSTEP sanitary pads and VITASTEP Z energy powder.
-
Maintains strong distribution network with direct links to retailers and distributors.
-
Ties with NGOs and health organisations boost product reach and social impact.
-
Low-cost product offerings support affordability and improve competitive market presence.
-
Rising demand for women’s hygiene products opens new market opportunities.
-
₹45 crore annualised revenue reflects strong growth and financial performance in FY24.
Risks
8-
Business depends mainly on Gujarat; regional issues may impact operations and revenue.
-
A single manufacturing facility in Bareja, Gujarat poses operational and shutdown risks.
-
Heavily relies on third-party suppliers without long-term contracts for raw materials.
-
Faces strict government regulations; failure in compliance may affect business flow.
-
No trademark registration for “MEDISTEP”; branding risks may affect market identity.
-
In FY 2024, negative cash flow from investing activities could limit growth.
-
Lack of working capital access may impact profitability and day-to-day operations.
-
Delay in placing machinery orders may raise costs and slow expansion plans.
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Medistep Healthcare Limited Peer Comparison
| Company Name | EPS (Basic) | NAV (per share) (₹) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| Medistep Healthcare Limited | 19.96 | 80.11 | - | 28.46 |
| Fabino Enterprises Limited | 0.23 | 19.80 | 135 | 1.15 |
| Achyut Healthcare Limited | 0.34 | 18.28 | 10.08 | 2.53 |
Medistep Healthcare IPO FAQs
Medistep Healthcare IPO is a fixed price issue IPO. It runs from August 8, 2025, to August 12, 2025.
The Basis of Allotment will happen on Wednesday, August 13, 2025.
The IPO subscription window will open on August 8, 2025.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 3,000 shares.
The listing date for Medistep Healthcare IPO is Monday, August 18, 2025.
The issue size of the Medistep Healthcare IPO is ₹16.10 crore.
The open and close dates for Medistep Healthcare IPO are from August 8, 2025, to August 12, 2025.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
Cameo Corporate Services Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.
The Medistep Healthcare IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Medistep Healthcare Limited’s financial statements, download the IPO’s RHP document.
Pre-apply allows investors to apply for the Medistep Healthcare IPO two days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
