IPO
Sanitary pads maker Medistep Healthcare’s Rs.16.40 Cr SME IPO subscribed 356 times
The INR 16.10 crore initial public offer of Ahmedabad-based sanitary pads and energy powders manufacturer Medistep Healthcare was subscribed 356.34 times. The IPO is entirely a fresh issue of equity shares of 37,44,000 shares at INR 43 apiece and received bids for 1,33,41,54,000 shares.The category for individual investors received 219.13 times subscription. Non-institutional investors' quota was subscribed 130.63 times and the qualified institutional buyers' part fetched a 6.59 times subscription.Proceeds from the IPO will be used for the purchase of plant and machinery for expansion at the company's existing manufacturing facility and to meet working capital requirements.Founded in June 2023, Medistep is engaged in the manufacturing of sanitary pads and energy powders and in the trading of pharmaceutical, nutraceutical, surgical, and intimate care products. The company reported revenue from operations of INR 49.7 crore and profit after tax of INR 4.14 crore in FY25.Fast Track Finsec is the sole book-running lead manager for the issue.
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