Medistep Healthcare's IPO Aims for Growth in Sanitary Pads & Energy Sector

Medistep Healthcare, a manufacturer of sanitary pads and energy powders, has launched its Initial Public Offering (IPO) priced at Rs 43 per share, aiming to raise Rs 16.10 crore. The funds will facilitate expansion, meet working capital needs, and support general corporate endeavors. The company, which also trades pharmaceutical and intimate care products, plans to list on NSE's SME platform Emerge.

Medistep Healthcare has opened its Initial Public Offering (IPO) for subscription, pricing each share at Rs 43. The company intends to raise Rs 16.10 crore through this share sale, which will remain open until August 12.

According to the company's statement, the IPO consists entirely of a fresh issue of up to 37.44 lakh equity shares. The proceeds will be channeled towards purchasing plant and machinery and meeting working capital and general corporate requirements.

Medistep, founded in June 2023, operates in the manufacturing of sanitary pads and energy powders while trading in pharmaceutical and intimate care products. Fast Track Finsec manages the book-running activities, with Cameo Corporate Services as the registrar.

(With inputs from agencies.)