Medistep Healthcare IPO fully subscribed within an hour on opening day; check lot size, key dates and more

Medistep Healthcare IPO: The initial public offering of Medistep Healthcare Ltd, a manufacturer of sanitary pads and energy powders, was fully subscribed within an hour on opening day on Friday, August 8. The issue will conclude on August 12.

The initial share sale has been booked 1.67 times, with bids for 62,64,000 compared to 37,44,000 shares on offer, according to the NSE data until 11:03 am.

The company seeks to raise ₹16.10 crore via a fresh issuance of 37.44 lakh shares. It is a fixed-price issue at ₹43 per share, and the minimum investment for an individual investor is two lots of 6,000 shares.

The shares of the company will be listed on the NSE's SME platform, Emerge.

Proceeds from the fresh issue will be used to fund capital expenditure towards the purchase of plant and machinery to expand the company's existing manufacturing plant, meet working capital needs, and serve general corporate purposes.

"The proceeds from the IPO will strategically support our expansion efforts and reinforce our footprint in both domestic and international markets. Our diversified and growing product portfolio positions us well to capitalise on the rising global and domestic demand for health and hygiene solutions," Medistep Healthcare's MD Girdhari Lal Prajapati said.

Medistep Healthcare IPO timeline: Allotment and listing dates

Founded in 2023, Medistep Healthcare is engaged in the production of sanitary pads and energy powders and in the trading of pharmaceutical, surgical, nutraceutical, and intimate care products.

Fast Track Finsec Private Limited was the issue's book-running lead manager, while Cameo Corporate Services is the registrar.

Medistep Healthcare IPO GMP