Medistep Healthcare Limited, a fast-emerging player in the Indian healthcare manufacturing space, is preparing to raise ₹16.09 crore through a fixed-price Initial Public Offering (IPO) aimed at bolstering its manufacturing infrastructure with high-performance plant and machinery.

The majority of the capital raised will be deployed to upgrade the company’s production facility in Kheda, Gujarat, with a focus on automation and capacity expansion. At the heart of this investment is a fully automated, high-speed sanitary pad production line, capable of producing up to 500 pads per minute. This integrated setup combines raw material feeding, embossing, adhesive application, and inline quality checks — all in a single, seamless operation.

In addition to feminine hygiene products, Medistep is scaling its nutraceutical manufacturing. The company will commission a twin-shaft ribbon blender with vacuum-sealed hoppers and a volumetric filler, sourced from DEF Tech Industries. The system will support hygienic blending and precise packaging of energy powder sachets at speeds of up to 200 units per minute.

Further enhancing its packaging capabilities, Medistep will also integrate three modular tri-axis flow-wrap machines, enabling fully automated bagging, sealing, date-coding, and stacking. These enhancements aim to significantly reduce manual labour and increase throughput.

The modernisation project also includes facility upgrades, utility installations, staff training, and vendor warranty support. Once implemented, expected by Q4 FY26, the new systems are projected to boost production capacity by 30%, improve product consistency, and shorten delivery cycles.

Girdhari Lal Prajapati, Managing Director at Medistep Healthcare, stated, “This IPO is a strategic step toward future-proofing our operations. Investing in automation not only increases efficiency and quality but also enables us to respond more quickly to market demands across India.”

IPO Structure and Timelines

Medistep Healthcare’s IPO will consist of 37,44,000 equity shares at a fixed price of ₹43 per share, with a minimum lot size of 3,000 shares. The issue will open on August 8, 2025, and close on August 12, 2025. Post-issue, the shares are scheduled to list on NSE Emerge on August 18, 2025.

Share allocation includes 17,79,000 shares for retail investors, 17,76,000 for non-institutional investors, and 1,89,000 shares for the market maker. Fast Track Finsec Private Limited is managing the issue, with Cameo Corporate Services Limited acting as registrar.

Growth and Financial Performance

Founded in June 2023, Medistep Healthcare has quickly scaled operations through a pan-India network covering pharmaceuticals, nutraceuticals, surgical supplies, and intimate-care products. The company expanded significantly in FY24 by acquiring the operations of M/s MG Pharma, a proprietorship founded by one of its promoters.

In FY25, Medistep recorded a revenue of ₹4,965.48 lakh, up from ₹3,907.19 lakh in FY24. EBITDA rose to ₹560 lakh from ₹454.2 lakh, while PAT increased to ₹414.42 lakh from ₹332.76 lakh YoY. The IPO will increase the company’s total equity base to 1,42,09,546 shares, with a projected market capitalisation of ₹61.10 crore.

Also read: Vasa Denticity Acquires 51% Stake in IDS Denmed, Forms India’s Largest Integrated Dental Supply Network

Established in 2023 and based in Gujarat, Medistep Healthcare focuses on manufacturing and distributing a diverse range of healthcare products, including sanitary pads, energy powders, and pharmaceuticals. Through automation-led production and a fast-growing distribution network, the company aims to make quality healthcare accessible and affordable across India.

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