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Medistep Healthcare IPO
Medistep Healthcare Ltd
₹1,29,000 /3000 sharesMinimum Investment
Medistep Healthcare IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹43.00 | ₹53.00 | ₹10.00 (23.26%) |
Medistep Healthcare IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 8 Aug ‘25 - 12 Aug ‘25 | ₹2,58,000 | 3,000 | ₹43 - ₹43 |
| Issue Size | IPO Doc |
|---|---|
| 16.10Cr | RHP PDF |
Subscription rate
As of 12 Aug'25, 04:01 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 199.44x |
| Retail Individual Investor | 364.97x |
| Total | 273.52x |
About Medistep Healthcare
Founded in
2023
Managing director
Mr Girdhari Lal Prajapat
Parent organisation
Medistep Healthcare Ltd
Strengths & Financials of Medistep Healthcare
Strengths
Risks
Medistep Healthcare is engaged in the trading of pharmaceutical, surgical, intimate care, hygiene, and nutraceutical products, while also manufacturing select items, such as sanitary pads under the brand name DRYSTEP and energy powders under the brand VITASTEP Z.
The company follows an order-driven business model that focuses on optimising existing resources to maintain supply efficiency and reduce operational costs.
The company has reported a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 7.62 crore in FY22 to Rs 27.65 crore in FY23 and Rs 31.61 crore in FY24. PAT increased from Rs 0.19 crore in FY22 to Rs 0.92 crore in FY23 and Rs 2.91 crore in FY24.
A significant portion of the company’s revenue is derived from Gujarat. It accounted for Rs 11.25 crore (100 percent) of the company’s revenue in the period ended June 30, 2024, Rs 39.06 crore (99.96 percent) in FY24, Rs 27.63 crore (99.94 percent) in FY23, and Rs 7.62 crore (99.99 percent) in FY22. Any adverse political, social, or economic developments in this region could harm the company’s business and financial condition.
The company is heavily dependent on third-party suppliers for the purchase of raw materials, which form the major part of its business. Any delay, interruption, or reduction in such supply could adversely affect the company’s results of operations, financial condition, and cash flows.
The top 10 customers accounted for Rs 11.10 crore (98.62 percent) of the company’s revenue in the period ended June 30, 2024, Rs 26.71 crore (68.36 percent) in FY24, Rs 26.90 crore (97.29 percent) in FY23, and Rs 6.22 crore (81.62 percent) in FY22. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients could hit the company’s business and financial standing.
The company has recorded a fluctuating inventory turnover ratio over recent periods, with ratios of 13.14 times in the period ended June 30, 2024, 29.55 times in FY24, 57.61 times in FY23, and 22.89 times in FY22. An inability to accurately match production volumes with actual demand could result in either stock shortages or unsold inventory, especially in product categories with limited shelf life. Such fluctuations may adversely impact the company’s operational efficiency, financial condition, and cash flows.
The company reported negative cash flow from operating activities amounting to Rs 1.08 crore in the period ended June 30, 2024, Rs 7.11 crore in FY24, and Rs 0.40 crore in FY22. Additionally, negative cash flow from investing activities amounted to Rs 0.15 crore in FY24 and Rs 0.44 crore in FY22. Furthermore, the company reported negative cash flow from financing activities amounting to Rs 0.35 crore in FY23. If cash outflows continue to exceed inflows in the future, the company may face liquidity challenges.
The top 10 suppliers accounted for Rs 9.17 crore (99.10 percent) of the company’s total purchases in the period ended June 30, 2024, Rs 33.87 crore (95.32 percent) in FY24, Rs 22.72 crore (86.63 percent) in FY23, and Rs 1.15 crore (15.85 percent) in FY22. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company was incorporated in June 2023 and has recently expanded its business from trading in pharmaceutical products to manufacturing sanitary pads and energy powders. With a limited operating history and no prior experience in manufacturing, it may encounter challenges in areas such as production efficiency, quality control, regulatory compliance, and supply chain management. Given its short history and evolving business model, investors should closely monitor the company’s overall performance going forward.
Medistep Healthcare Financials
*All values are in Rs. Cr
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Application Details of Medistep Healthcare IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹43 - 43 | ₹2 - 5 Lakh |
| High Networth Individual | ₹43 - 43 | ₹2 - 5 Lakh |
For Medistep Healthcare IPO, eligible investors can apply as Regular.