Medistep Healthcare IPO Opens 8 Aug - Check GMP, Allotment Status

Medistep Healthcare Limited is permitted to go ahead with an IPO. The company is based in Ahmedabad, Gujarat (India) and is one of the emerging participants in the healthcare and pharmaceutical industry. The company has above-average growth potential and is already an established entity in India's healthcare sector. Analysts see solid potential growth and revenue upside for the healthcare firm. The price band is ₹43-61 per share for this new issue of shares of the IPO and investors should consider this an advantageous investment opportunity, especially as the company appears to be in a great position to take advantage of India's expanding healthcare industry and rising healthcare awareness.

Currently, Medistep Healthcare IPO GMP is showing ₹18 (41.86%) premium in the grey market. This means investors are willing to pay ₹18 above the IPO price, and demand looks to be strong from the investing community for this offering. The grey market premium provides additional confirmation of investor confidence in this healthcare sector player going public.

IPO Dates for Medistep Healthcare Limited

The Medistep Healthcare Limited IPO is set to open on August 8, 2025, and close on August 12, 2025. The Board of Allotment (BoA) date is expected to be August 13, 2025, with listing planned for August 18, 2025.

IPO Details Summary

The minimum bid of retail investors is ₹1,29,000, which is the cost of 3,000 shares. Investors are also watching Medistep Healthcare IPO's GMP, at a 41.86% premium. The strong demand from investors has already shown significant investor appetite. This is one of the notable IPOs currently expected in the healthcare and pharmaceutical industry.

About Medistep Healthcare Limited

Medistep Healthcare Limited is an important healthcare and pharmaceutical company located in Ahmedabad, Gujarat. Medistep Healthcare has made a case for being a growing healthcare player in the healthcare landscape in India by providing healthcare products and products, pharmaceutical solutions, and medical services to its customers operating in hospitals, clinics, other healthcare institutions and individual consumers. 

The Company operates in health care sector by manufacturing and distributing j pharmaceutical products, medical devices, healthcare solutions and providing medical services to medical professionals, healthcare institutions and patients. The Company has provided a range of healthcare and pharmaceutical solutions served servicing both institutional clients and individual consumers in variety of therapeutic areas.

As of March 2025, they resolved as a growing healthcare player across India. Medistep Healthcare is focused on quality healthcare solutions and developing medical technologies to provide solutions to evolving healthcare needs and segments changes and meeting regulatory requirements.

Cameo Corporate Services Limited acts as the registrar for the Medistep Healthcare IPO. The net fresh issue proceeds will be utilized for capacity expansion, research and development, technology upgrades, repayment and prepayment of borrowings, working capital purposes and general corporate purposes. Considering that the Indian healthcare and pharmaceutical sector is on a steady growth trajectory, Medistep Healthcare is well-placed to benefit from the rising healthcare awareness and increasing medical infrastructure within India.

Financial Performance of Medistep Healthcare Limited

The company has shown consistent growth performance in the healthcare sector, with strong profitability improvement in recent years.

Performance Analysis

Medistep Healthcare Limited has achieved great financial growth over the past year. Revenue grew from ₹27.74 Cr in FY23 to ₹49.66 Cr in FY25, resulting in total growth of 79.0% over 2 years. Revenue growth is even more impressive when you consider the growth in profitability from ₹0.92 Cr in FY23 to ₹4.14 Cr in FY25, which is an astounding 350.0% increase.  This demonstrates that the Company has the ability to scale its operations up and at the same time improve its margins in the competitive healthcare landscape.

In terms of assets, Medistep Healthcare has also demonstrated solid growth as it increased total assets from ₹14.66 Cr to ₹22.99 Cr, or approximately 56.8% growth over the period.  The company's net worth has increased substantially from ₹1.07 Cr to ₹16.83 Cr which reflects strong retained earnings driven by a rapid expansion of the business. EBITDA was also substantial in growth, from ₹1.34 Cr to ₹5.6 Cr also indicating strong improvement and operational efficiencies.  Overall, Medistep managed very low total borrowings of ₹0.64 Cr during this based on conservative debt management and good cash generation. Therefore, from our assessment of the financial analysis, Medistep clearly exhibits strong financial momentum and growth trajectory and has positioned itself well for future growth in India's broadening healthcare and pharmaceutical landscape.

IPO Share Reservation

The IPO share allocation follows standard SEBI guidelines: The retail quota is 40%, QIB is 30%, and HNI is 30%.

Strengths

1. Growing Marketplace in the Healthcare Sector:
Medistep Healthcare has the opportunity to take advantage of India's growing healthcare market, the increased awareness towards healthcare, and the growing demand for pharmaceutical products.

2. Strong Financials:
Total assets increased from ₹14.66 Cr to ₹22.99 Cr, accompanied by superior profitability growth increasing from ₹0.92 Cr to ₹4.14 Cr PAT which reflect strong fundamentals and scalability of the business.

3. Revenue Growth:
The company continued to deliver revenue growth at ₹27.74 Cr to ₹49.66 Cr which reflects substantial building of the market share and customer base in the industry.

4. Strategic Location:
The company's operations in Gujarat provide a comparative advantage in an emerging and growing regional healthcare market, expanding pharmaceutical and medical device marketplace.

5. Industry Cycle Tailwinds:
The company should benefit from the development of India's healthcare infrastructure, the aging population, and healthcare spending increase.

6. Quality:
The investment in quality assurance and compliance will effectively position the company well for sustainable growth in the future.

7. Operational Efficiency:
EBITDA growth from ₹1.34 Cr to ₹5.6 Cr shows the ability to leverage operations for improved margin improvements.

8. Strong GMP:
Strong investor confidence shown by GMP of 41.86% reflecting a positive market sentiment for Medistep Healthcare.

9. Minimal Debt:
Minimal borrowings of ₹0.64 Cr reflects conservative financial management and strong capacity to generate cash.

Risks

1. Regulatory Risk:
The healthcare and pharmaceutical industries are highly regulated and subject to numerous compliance requirements, posing risks to cost structure and operations.

2. Market Competition:
The healthcare and pharmaceutical industries experience intense competitive forces from historical and established larger competitors that could threaten profitability, market share, and pricing power.

3. Uncontrollable Raw Material and Commodity Factors:
The manufacture of healthcare products depends on raw materials and active pharmaceutical ingredients of assured quality, exposing the company to supply chain risk and cost impact.

4. Quality Control:
The healthcare industry and products have high-quality control and testing processes and requirements, which can increase operating costs and compliance.

5. Concentration Risk:
The company may be vulnerable to risk related to being dependent on specific segments of the therapeutic space or specific regions of the market.

6. Technology updates / R&D:
The healthcare industry has a continual need for technology updates, research, and development to maintain competitive advantage.

7. Seasonality:
Healthcare products may have some seasonal demands which could impact certainty of revenue.

8. Intellectual Property:
The healthcare industry is subject to risks arising from patent expiry, patent challenges, patent infringement, generic challenges to patents, and many other risks associated with intellectual property.

How to Apply for Medistep Healthcare IPO?

Step-by-step guide (when IPO opens on August 8, 2025):

1. Log in to your broker app (Zerodha, Angel One, Groww, etc.)
2. Go to the IPO section and select the Medistep Healthcare IPO
3. Click Apply
4. Enter:
   • Lot size (3,000 shares minimum)
   • Bid price (₹43-61 or select Cut-Off)
   • Your UPI ID
5. Submit the application
6. Approve the UPI request in your UPI app (PhonePe, GPay, etc.)

⏰ Important: The UPI request must be approved before 5 PM on the same day or before the IPO closes on August 12, 2025.

How to Check Medistep Healthcare IPO Allotment Status?

You can check the Medistep Healthcare IPO allotment status through NSE/BSE and the registrar portal once the IPO opens.

Check On NSE/BSE

1. Visit the NSE or BSE official website
2. Go to the IPO Allotment Section
3. Select Medistep Healthcare IPO
4. Enter PAN number or application number
5. Submit details to get the Medistep Healthcare IPO allotment status

Check On the Registrar Portal

1. Visit Cameo Corporate Services Limited website:
2. Select IPO allotment status
3. Choose Medistep Healthcare IPO
4. Enter PAN or application number
5. Submit to check status

Company Address

Name: Medistep Healthcare Limited
Address: 05, S. No-245/B, Plot-19, T.P.S. 56, Free Way Trade Center, Nr.A-One Hotel N.H.-8 Narol Gam, Narol Daskroi Ahmedabad, Gujarat, 382405
Phone: +91 87808 46963
Email: Info@medistephc.com
Website: https://www.medistephc.com/

IPO Registrar

Name: Cameo Corporate Services Limited
Phone: +91 44 28460390
Email: cameo@cameoindia.com
Website: https://ipostatus2.cameoindia.com/
Address: Cameo Corporate Services Ltd., Subramanian Building # 1, Club House Road, Chennai 600 002 - India

Conclusion

Medistep Healthcare Limited is an appealing prospect in the healthcare and pharmaceutical market in India. The business has fundamental strength with good revenue growth, profit growth, and an expanding asset base. The company has revenue growth of 79.0% over a two-year period, with profit after tax improving by 350.0% which highlights strong growth prospects for the company to take advantage of the growing healthcare industry in India.

The IPO price band has been set at ₹43-61 per share with a strong GMP of 41.86% which indicates an optimistic market sentiment and good confidence from investors. Given the strong operational performance of the company with EBITDA increasing from ₹1.34 Cr to ₹5.6 Cr and industry position in Rhode, Gujarat healthcare market, this has clear advantages as the healthcare and pharmaceutical sector continues to rapidly grow in India.

Investors should fully evaluate the potential risks relating to regulatory obligations, market competition, dependency on raw materials, and compliance to quality controls. For investors with sufficient risk appetite who believe in the growth of India's healthcare industry, Medistep Healthcare has enormous upside potential with the strong financial performance in the recent past and position in a growing market.

Disclaimer: This analysis is for educational purposes and not financial advice. Please consult a financial advisor before making investment decisions.

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