Here are the full details of the Medistep Healthcare Limited IPO:
Incorporated: June 5, 2023, having acquired the proprietorship MG Pharma in July 2023
Operations: Manufacturing sanitary pads and energy powder. Trading pharmaceutical, nutraceutical, intimate care/hygiene, and surgical products via a distribution network
IPO Timeline
- Opening Date: August 8, 2025
- Closing Date: August 12, 2025
- Allotment Finalization: August 13, 2025
- Refund / UPI Mandate Unblocking: August 14, 2025
- Shares Credited to Demat: August 14, 2025
- Listing Date on NSE SME: August 18, 2025
IPO Details
- Issue Type: Fixed‑price SME IPO
- Price Per Share: ₹ 43 (Face Value ₹ 10)
- Lot Size: 1,500 Shares
- Total Shares Offered: 37.44 lakh equity shares
- Total Issue Size: ₹ 16.10 crores (fresh issue only)
- Listing At: NSE SME
- Share Holding Pre Issue: 1,04,65,546 shares
- Share Holding Post Issue: 1,42,09,546 shares
GMP of Medistep Healthcare Limited IPO
Here’s the latest on the Grey Market Premium (GMP) for Medistep Healthcare Limited IPO:
According to ipowatch.in, the unofficial GMP is currently running at ₹12 per share, which translates to an estimated ~28% upside over the fixed issue price of ₹43
Business Today also confirms the GMP around ₹12, pointing to strong investor enthusiasm ahead of listing.
Key Takeaways
| Parameter | Detail |
|---|---|
| IPO Issue Price | ₹43 per share |
| Grey Market Premium | ₹12 per share (~28%) |
| Implied Listing Price | ~₹55 |
| Caveat | GMP is speculative and not guaranteed |
Promoters of Medistep Healthcare Limited
Here are the promoter details for Medistep Healthcare Limited, as disclosed in its SME IPO filings:
- Girdhari Lal Prajapat
- Vipul Gobarbhai Dabhi
- Hetalben Girdharilal Prajapati
1. Girdhari Lal Prajapat
- Designation: Managing Director
- Background: Central figure in business strategy and public communications during the IPO. He is responsible for overseeing expansion initiatives and operational planning.
2. Dabhi Vipul Gobarbhai
- Designation: Director & Promoter
- Background: Executive director involved in operational and strategic roles. He is a director in the company and also associated with Medistep Pharmaceuticals Private Limited.
3. Prajapati Hetalben Girdharilal
- Designation: Promoter & Director
- Background: Originally ran the sole proprietorship MG Pharma, whose business was acquired by Medistep on 2 July 2023, and folded into the company—ensuring continuity of operations under the public entity.
Background & Roles
- Girdhari Lal Prajapat serves as the Managing Director, actively leading expansion initiatives and representing the company’s strategy publicly during the IPO process.
- Hetalben Prajapati owned the proprietary concern MG Pharma, which was acquired by Medistep through a business transfer agreement dated 2 July 2023, integrating the business into Medistep’s operations.
- Vipul Gobarbhai Dabhi is listed as a current Director of the company and part of the promoter group overseeing operations and strategic decisions.
Medistep Healthcare Limited IPO Lot Size
Here’s the detailed information on the lot size and minimum investment requirements for the Medistep Healthcare Limited IPO, as per its fixed‑price SME issue:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,000 | ₹1,29,000 |
| Retail (Max) | 4 | 9,000 | ₹3,87,000 |
| HNI (Min) | 5 | 7,500 | ₹3,22,500 |
- Market Lot: 3,000 shares (per lot) is the base unit for bidding.
- Retail investors are permitted to bid for exactly 2 lots (i.e., 6,000 shares costing ₹ 2,58,000) — both the minimum and maximum limit.
- HNI/NII applicants must apply for a minimum of 3 lots (i.e., 9,000 shares) amounting to ₹ 3,87,000.
Medistep Healthcare Limited IPO Promoter Holding
Here’s the verified information on Medistep Healthcare Limited promoter shareholding in its SME IPO, based on the prospectus and reliable sources:
| Shareholding Stage | Promoter Group (%) |
|---|---|
| Pre-IPO | 93.62% |
| Post-IPO | 68.96% |
- Before the IPO, the promoter group—comprising Girdhari Lal Prajapat, Dabhi Vipul Gobarbhai, and Prajapati Hetalben Girdharilal—held 93.62% of the company’s equity.
- Following the fresh issue of 37.44 lakh shares in the IPO, their combined holding is diluted to 68.96%.
About Medistep Healthcare Limited
Medistep Healthcare Limited is a Gujarat‑based pharmaceutical enterprise incorporated in June 2023.
The company manufactures healthcare and hygiene products and also trades a broad array of related products across India.
Business Segments
- Manufacturing: In‑house production of sanitary pads (feminine hygiene) and energy powder (nutraceutical supplement).
- Trading & Distribution: A wide portfolio including pharmaceutical, nutraceutical, intimate care, and surgical products distributed through its growing network across retail and institutional segments.
Summary
- Core Focus: Healthcare & hygiene products – both self-produced and distributed.
- Financial Health: Strong growth in both revenues and profits (FY24–25), with solid ROI ratios.
- IPO Positioning: ₹16.10 crore issue at ₹43, supported by experienced promoters and strategic capital deployment plans.
- Risks: Regional concentration, supply-chain vulnerabilities, and SME-level liquidity constraints.
Medistep Healthcare Limited Financial Information
Here’s the financial overview of Medistep Healthcare Limited, based on its SME IPO prospectus and public filings:
| Period Ended | 31 Mar 2025 | Mar 31 2024 | 31 Mar 2023 |
| Assets | ₹22.99 Crore | ₹14.96 Crore | ₹14.66 Crore |
| Total Income | ₹49.66 Crore | ₹31.63 Crore | ₹27.74 Crore |
| Profit After Tax | ₹4.14 Crore | ₹2.91 Crore | ₹0.92 Crore |
| EBITDA | ₹5.60 Crore | ₹3.96 Crore | ₹1.34 Crore |
| Net Worth | ₹16.83 Crore | ₹11.69 Crore | ₹1.07 Crore |
| Reserves and Surplus | ₹6.37 Crore | ₹6.79 Crore | – |
| Total Borrowing | ₹0.64 Crore | ₹0.33 Crore | ₹0.53 Crore |
- Revenue growth: Jumped from ₹27.74 Cr in 2023 to ₹31.63 Cr in 2024 (+14%), and further to ₹49.65 Cr in 2025 (+57% annualized).
- Profit growth: PAT rose from ₹0.92 Cr → ₹2.91 Cr (2024) and further to ₹4.14 Cr in 2025 (~42% increase).
- Asset base: Grew from ₹14.96 Cr (Mar‑24) to ₹24.02 Cr (Jun‑24 annualized).
Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROE | 29.06% |
| ROCE | 38.91% |
| RoNW | 29.06% |
| PAT Margin | 8.35% |
| EBITDA Margin | 11.27% |
| Price to Book Value | 2.67 |
Strengths of Medistep Healthcare Limited IPO
1) High Growth in Profitability
- PAT surged from ₹0.92 Cr in FY2023 to ₹2.91 Cr in FY2024, boosting margins from ~3% to ~9%. That demonstrates strong operational scaling.
2) Strong Return Ratios
- RoNW: ~44%, RoCE: ~59%, with EPS of ₹19.96 in FY2024. These indicate highly efficient deployment of shareholder funds.
3) Low Leverage / Asset-Light Business Model
- Debt-to-equity ratio of just ~0.03. The business operates with minimal debt, offering financial solidity.
4) Diversified Product Portfolio
- Offers manufacturing (sanitary pads, energy powder) and trading (pharmaceuticals, nutraceuticals, intimate care, surgical products). This diversification enhances resilience across product lines.
5) Expansion-Focused Use of IPO Funds
- IPO proceeds are earmarked for capacity expansion, working capital, and corporate growth—supporting operational scale-up.
Risks of Medistep Healthcare Limited IPO
1) Limited Business Scale
- With FY2024 revenue of ₹31.6 Cr and PAT of ₹2.9 Cr, the company remains small. Upside depends heavily on consistent execution and scaling.
2) SME-Specific Risk Factors
- Limited post-listing liquidity, higher volatility, and less access to institutional investment characterize SME IPOs.
3) Competitive & Regulatory Exposure
- Operating in competitive healthcare and FMCG-adjacent segments, with tight regulatory oversight and need for strict quality control. Execution and compliance are key.
4) Promoter & Governance Risks
- The company disclosed delays in filings and potential legal contingencies. All IPO proceeds are at management’s discretion, lacking debt-like oversight or monitoring agency.
5) Execution Risks on Expansion
- Transitioning from trading pharmaceutical distribution to manufacturing organic products (sanitary pads, energy powders) requires operational effectiveness and capital discipline. Missteps could impact margins.
Medistep Healthcare Limited Contact Details
Here are the official contact details for Medistep Healthcare Limited, as disclosed in its SME IPO filings and company records:
Company Contact Information
| Detail | Information |
|---|---|
| Address | 05, S. No‑245/B, Plot‑19, T.P.S 56, Free Way Trade Center, Nr. A‑One Hotel, NH‑8, Narol Gam, Narol, Daskroi, Ahmedabad, Gujarat, 382405 |
| Phone | +91 87808 46963 |
| Official Email | info@medistephc.com ( |
| Alternative Email | medistephealthcare.ltd@gmail.com (as per MCA records) |
| Website | www.medistephc.com |
Registrar of the IPO
Cameo Corporate Services Ltd
- Phone: +91‑44‑28460390 / 28460394
- Email: priya@cameoindia.com
- Website: cameoindia.com / ipo.cameoindia.com
Connplex Cinemas Limited IPO: Date, Price, Lot Size & Details
Umiya Mobile Limited IPO Details – Dates, Price & Review
Disclaimer: The content on this website is intended for informational purposes only and should not be interpreted as financial or investment advice. Engaging in stock market activities involves inherent risks, and outcomes can be unpredictable. While we strive to provide accurate and up-to-date information, we do not make any guarantees regarding the completeness or reliability of the content. Any investment decisions you make should be based on your own research and consultation with a qualified financial professional. We are not responsible for any financial gains or losses resulting from actions taken based on the information provided here. Always invest wisely and at your own risk.
