Gujarat-based SME pharmaceutical products trader Medistep Healthcare will open its initial public offering (IPO) for subscription on 8 August, becoming the third company to launch an IPO on the same day, alongside ANB Metal Cast and Star Imaging & Path Lab. The offer will close on 12 August, with the issue price fixed at INR 43 per share.

The intimate and nutraceutical products manufacturer aims to raise INR 16.1 crore through its maiden public issue of 37.44 lakh shares. Proceeds will primarily fund the purchase of new plant and machinery for expansion at its existing manufacturing facility and meet working capital requirements, with the balance allocated to general corporate purposes.

In FY25, manufacturing of sanitary pads and energy powder contributed 26.5% to revenue, while trading and distribution of pharmaceutical, nutraceutical, surgical, and intimate care products accounted for the remaining 73.5%.