Gujarat-based SME pharmaceuticals products trader Medistep Healthcare is set to open its initial public offering for subscription on August 8, making it the third company launching IPO on the same day, along with ANB Metal Cast and Star Imaging & Path Lab.
The issue price for the offer, which will close on August 12, has been fixed at Rs 43 per share.
The intimate and nutraceutical products manufacturer plans to raise Rs 16.1 crore through its maiden public issue of 37.44 lakh shares. The IPO proceeds will be utilised mainly for purchasing new plant and machineries for expansion at existing manufacturing facility and working capital requirements and the rest will be used for general corporate purposes.
The manufacturing of sanitary pad and energy powder business contributed 26.5 percent to its revenue in FY25, while trading & distribution of pharmaceutical, nutraceutical, surgical and intimate care products accounted for 73.5 percent of business.
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The company will finalise IPO share allotment by August 13, followed by the listing of equity shares on the NSE Emerge effective August 18.
The merchant banker handling the Medistep Healthcare IPO is Fast Track Finsec.
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