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Medistep's IPO: Sanitary pad maker sees strong demand
Medistep Healthcare's IPO opened this week, looking to raise ₹16.10 crore by offering shares at ₹43 each.
By early afternoon, demand had already soared—investors bid for nearly five times the available shares, with retail investors especially enthusiastic, oversubscribing their portion by more than seven times.
Company background and financials
Based in Ahmedabad, Medistep makes sanitary pads (DryStep) and energy powder (VitaStep Z), plus trades a mix of pharma, nutraceuticals, intimate care products, and surgical items.
What Medistep will do with the funds raised
Funds raised will help Medistep buy new machinery, boost working capital, and cover general expenses.
The IPO closes August 12; allotment is set for August 13 and shares are expected to list on NSE SME by August 18.