₹ 129000 / 3000 shares
Medistep Healthcare IPO Details
RHP/DRHPIssue Date
08 Aug - 12 Aug'25
Investment/lot
₹ 129000
Price Range
43
Lot Size
3000
IPO Size
₹ 16.10 Cr
IPO Listing Details
Listing On
18 Aug'25
Issue Price
--
Listed Price
₹ 53
Retail Gain/Listing Gain
▲23.26%
Schedule of Medistep Healthcare IPO
Start date
08/08/2025
End date
12/08/2025
Allotment of bids
13/08/2025
Refund Initiation
14/08/2025
Listing on exchange
18/08/2025
Medistep Healthcare IPO Subscription Status
(As On, August 12, 2025, 12:35 PM)
| Date | Total | NII* | Individual Investors |
|---|---|---|---|
Day 1 Aug 8, 2025 | 9.48 | 2.49 | 16.46 |
Day 2 Aug 11, 2025 | 79.52 | 31.98 | 126.96 |
Day 3 Aug 12, 2025 | 195.48 | 119.34 | 270.69 |
About Medistep Healthcare IPO
The offer consists of a fresh issue component. The fresh issue will include 37,44,000 Equity Shares of face value of ₹10/- each for cash at a price of ₹43.00/- per equity share aggregating to ₹16.099 crores. The total number of shares and aggregate amount are 37,44,000 Equity Shares of face value of Rs.10/- each for cash at a price of ₹43.00/- per equity share aggregating to ₹16.099 crores.
Medistep Healthcare Limited is a pharmaceutical company that has carved a niche in the healthcare industry through its experience in manufacturing sanitary pads, energy powder, and trading a diverse range of pharmaceutical products, nutraceutical products, intimate products, and surgical products through distribution networks.
Objective of Medistep Healthcare IPO
- To meet the capital expenditure for purchasing new plant and machinery for expansion at the existing manufacturing facility.
- To meet the working capital requirements of the company.
- To meet general corporate purposes.
- To meet the issue expenses.
Medistep Healthcare IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band (₹) | ₹43 |
Existing Shares to be Sold | NA |
Fresh Issue | 37,44,000 Equity Shares of face value of Rs.10/- each for cash at a price of Rs. 43.00/- per equity share aggregating to Rs. 16.099 crores |
EPS (₹) For the year ended March 31, 2025 | 4.01 |
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 |
Industry Outlook
The Indian pharmaceutical industry has established itself as a major player in both the domestic and international markets. This dominance has been achieved through a sustained focus on manufacturing, competitive pricing practices, and a highly skilled workforce.
The Indian pharmaceutical industry has evolved significantly over the years and is currently the third-largest in the world in terms of volume, and ranks 14th in terms of value. The pharmaceutical industry contributes approximately 1.72% to India’s GDP. The market size of the Indian pharmaceutical sector is expected to reach US$ 6,500 crores by 2024, approximately US$ 13,000 crores by 2030, and around US$ 45,000 crores by 2047.
India's nutraceutical market is poised to become a global leader, currently valued at USD 400–500 crores, and is expected to grow to approximately USD 1,800 crores by 2025.
The Indian sanitary napkin market reached a value of US$ 75.85 crores in 2023. Looking ahead, the IMARC Group expects the market to reach US$ 165.96 crores by 2032, exhibiting a compound annual growth rate (CAGR) of 8.8% during 2024–2032.
Company Information
Medistep Healthcare Limited is a pharmaceutical company that has carved a niche in the healthcare industry through the manufacturing of sanitary pads and energy powder, as well as trading a diverse range of pharmaceutical, nutraceutical, intimate, and surgical products through its distribution network. They are consistent in supplying quality products year-round. Their products comply with requisite safety standards. They are constantly striving to expand their product line and are always looking for complementary products to add to their range.
Strengths of Medistep Healthcare IPO
- Experienced promoters and management team.
- Scalable business model that is focused on customers and is driven by orders.
- Wide range of products including the trading of pharmaceutical and healthcare items, as well as the manufacturing of sanitary pads and energy powders.
Risks of Medistep Healthcare IPO
- Any adverse changes in the conditions affecting the Gujarat region where they provide their goods mainly.
- Any delay, interruption or reduction in supply of raw materials by domestic third-party suppliers.
- Any slowdown or shutdown in their manufacturing operations.
- Loss of any large customers.
- Inability to accurately forecast demand for their products and manage their inventory.
All Financial Information about Medistep Healthcare IPO
Comparison with peers
| Parameter | Medistep Healthcare Ltd | Achyut Healthcare Ltd | Fabino Enterprises Ltd |
|---|---|---|---|
Revenue from operations for the year ended March 31, 2025 (₹in crores) | 49.655 | 3.047 | 18.036 |
P/E Ratio | 10.72 | 41.27 | 209 |
EPS (Diluted) (₹) | 4.01 | 0.63 | 0.02 |
Return on Net Worth (%) | 24.62 | 3.12 | 1.77 |
NAV (Rs. Per share) | 16.28 | 20.42 | 1.33 |
*Source: https://www.bseindia.com/ The Company’s Financial Figures are based on restated standalone audited financial statements for Financial Year 2024-25. With respect to Industry peers, all the financial information mentioned above is on a standalone basis and is sourced from the audited results of the respective companies for the year ended March 31, 2025 unless provided otherwise.
Notes for peer group: a) P/E Ratio has been computed based on the closing market price of equity shares on BSE/NSE on July 30, 2025 divided by the Basic EPS as at March 31, 2025. b) Return on Net Worth (%) = net profit after tax divided by Average net worth. Net worth has been computed as the aggregate of share capital and reserves and surplus/Other Equity. c) NAV is computed as NAV is computed as the closing net worth as on March 31, 2025 divided by the outstanding number of equity shares as on March 31, 2025. d) CMP is taken as per 30 July, 2025.
Anchor Investor Bidding Date: Aug 07, 2025
Registrar: Cameo Corporate Services Limited Book Running Lead Managers: Fast Track Finsec Private Limited
Business Model
The company earns its revenue through the following: a) Manufacturing of sanitary pads and energy powder. b) Trading & distribution of pharmaceutical, nutraceutical, surgical, and intimate care products.
Company Growth Trajectory
Total income for the financial year 2024-25 stood at ₹49.66 crores whereas in financial year 2023-24 it stood at ₹39.08 crores, representing an increase of 27.06%.
Total revenue from operations for the financial year 2024-25 stood at ₹49.65 crores whereas in financial year 2023-24 it stood at ₹39.07 crores, representing an increase of 27.09%. The increase in net revenue is attributed to their entry into manufacturing of intimate care, hygiene products, and nutraceuticals.
Other income for the financial year 2024-25 stood at ₹0.0037 crores whereas in financial year 2023-24 it stood at ₹0.0101 crores, which represents a decrease of 63.37%. It comprises discount received from suppliers.
The restated profit after tax (PAT) for the financial year 2024-25 stood at ₹4.14 crores whereas in financial year 2023-24 it stood at ₹3.33 crores, representing an increase of 24.54%.
Company Market Position
The company believes that their cost-effective and integrated offerings, strong focus on customer satisfaction, reliability, and quality consciousness give them a competitive advantage in their business. They have strong networks of hospitals, medical practitioners, retail pharmacies and distributors/stockists. The company has a plan to manufacture different multivitamin tablets like iron tablets, calcium tablets, B complex tablets, B12 tablets, etc.
They intend to continue to increase their market share and consolidate their leadership position in the domestic market for their CDMO business, elevate the presence of their domestic formulations business, expand their global presence, scale their API business, and prioritize R&D for product development across therapy areas and dosage forms.
As a part of their strategy to enhance market position with focus on additional capacity for manufacturing of protein powder and multivitamin tablets along with existing manufacturing of sanitary pad and energy powder, they intend to utilize up to ₹ 0.507 crores towards purchase of machinery and construction of shed at their existing manufacturing facility located in Gujarat to widen the range of products manufactured and capture market share.
As of 31st March, 2025, the company’s Total Income, Profit After Tax, and EBITDA stood at ₹ 49.658 crores, ₹4.144 crores, and ₹5.597 crores, respectively.
Medistep Healthcare IPO Profit & Loss
| Parameter | FY25 | For the period from 3rd July, 2023 to 31st March, 2024 | For the period from 1st April, 2023 to 2nd July, 2023 | FY23 |
|---|---|---|---|---|
Total Income (₹crores) | 49.658 | 31.625 | 7.457 | 27.737 |
Profit Before Tax (₹crores) | 5.539 | 3.893 | 0.553 | 1.231 |
Net profit / (loss) (₹crores) | 4.144 | 2.913 | 0.414 | 0.921 |
EBITDA (₹crores) | 5.597 | 4.542 | - | 1.339 |
EPS (₹) | 4.01 | 19.96 | – | — |
Medistep Healthcare IPO Cash Flow
| Parameter | FY25 | For the period from 3rd July, 2023 to 31st March, 2024 | For the period from 1st April, 2023 to 2nd July, 2023 | FY23 |
|---|---|---|---|---|
Profit before tax (₹crores) | 5.539 | 3.893 | 0.553 | 1.231 |
Net Cash from Operating Activities (₹crores) | 0.022 | (7.110) | 0.147 | 0.442 |
Net Cash from Investing Activities (₹crores) | — | (0.152) | —- | —- |
Net Cash from Financing Activities (₹crores) | 1.279 | 7.237 | (0.237) | (0.348) |
Cash and Cash Equivalents (₹crores) | 1.310 | 0.010 | 0.034 | 0.124 |
How to check the allotment status of Medistep Healthcare IPO?
1. Visit the Registrar's Website To check the IPO allotment status for Medistep Healthcare Limited IPO, visit the official website of Cameo Corporate Services Limited, the registrar for this IPO. On their IPO allotment status page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then, click the ‘Submit’ button to view your allotment status. Ensure you have the necessary details ready for a quick and accurate check.
2. Check on the Bombay Stock Exchange Website The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.
On the BSE IPO page, follow these steps
- Select 'Equity' from the dropdown menu
- Choose 'Medistep Healthcare Limited' in the next dropdown
- Enter your application number
- Enter your PAN
- Click 'Search'
Your Medistep Healthcare Limited IPO allotment status will be displayed.
3. Verify on the National Stock Exchange Website The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check Medistep Healthcare Limited IPO allotment status. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Application number
- PAN
Then click 'Submit'. Your Medistep Healthcare Limited IPO bid and allotment details will be displayed.
How to apply for Medistep Healthcare IPO?
- Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Medistep Healthcare IPO FAQs
When is Medistep Healthcare IPO listing date?
Medistep Healthcare IPO will list on 2025-08-18.
What is the issue size of Medistep Healthcare IPO?
16.10 is the issue size of Medistep Healthcare IPO.
What is the minimum lot size required for Medistep Healthcare IPO?
The minimum lot size is 3000 shares and the investment required is ₹129000.
What is the price band of the Medistep Healthcare IPO?
The price band of Medistep Healthcare IPO is ₹43 to ₹0.
Where can I read more about Medistep Healthcare business?
You can read more about Medistep Healthcare and its IPO from the company’s red herring prospectus (RHP) here.
What is the Medistep Healthcare Limited IPO?
Medistep Healthcare Limited's IPO consists of a fresh issue of 37,44,000 Equity Shares of face value of ₹10/- each for cash at a price of ₹43.00/- per equity share aggregating to ₹16.099 crores. The total offer size is 37,44,000 Equity Shares of face value of ₹10/- each for cash at a price of ₹43.00/- per equity share aggregating to ₹16.099 crores as well.
Is Medistep Healthcare Limited IPO coming?
Yes, Medistep Healthcare Limited is expected to come up with its IPO on 08 August 2025.
Who is the Chairman of Medistep Healthcare Limited?
Girdhari Lal Prajapat is the Chairman of Medistep Healthcare Limited.
What is the lot size of shares of Medistep Healthcare Limited IPO?
The lot size of the company is 3000 shares
From where can I read more about the IPO of Medistep Healthcare Limited?
You may read more about Medistep Healthcare Limited and its IPO from the company’s red herring prospectus (RHP) here.
