Medistep Healthcare IPO: The initial public offering (IPO) of Medistep Healthcare kicked off on Friday, August 8. The issue sailed through within a few hours on the first day of the bidding process amid a solid grey market premium (GMP).
Medistep Healthcare IPO will remain open for bidding till Tuesday, August 12.
Medistep Healthcare IPO Subscription Status
Medistep Healthcare IPO was booked 4.62 times as of 1.20 pm on the first day of the bidding process. The individual investor portion was booked 7.84 times and the non-institutional buyer portion was booked 1.40 times.
Overall, the Medistep Healthcare IPO received bids for 1.64 crore shares, as against 35.55 lakh shares on offer.
Medistep Healthcare IPO GMP
Medistep Healthcare IPO GMP today is ₹15. While it is slightly lower than ₹17, it still signals a strong listing premium. At the prevailing GMP and the issue price of ₹43 apiece, Medistep Healthcare IPO listing price could be ₹58, signalling a 34.88% gain on stock market debut.
Medistep Healthcare IPO Details
The SME IPO of Medistep Healthcare is a fixed price issue of ₹16 crore. It is entirely a fresh issue of 37.44 lakh shares priced at ₹43 apiece.
Investors can apply for the Medistep Healthcare IPO in lots of 3000 shares. Retail investors need to apply for at least 6000 shares, requiring an investment of ₹2,58,000.
The company plans to use the funds for funding of capital expenditure towards the purchase of plant and machinery for expansion at the existing manufacturing facility, meeting working capital needs and for general corporate purposes.
Following the closure of the IPO on August 12, the allotment for the Medistep Healthcare IPO will be finalised tentatively on August 13. Meanwhile, Medistep Healthcare IPO listing on NSE SME is expected to take place on August 18.
Fast Track Finsec Pvt Ltd is the book-running lead manager of the Medistep Healthcare IPO, while Cameo Corporate Services Limited is the registrar for the issue.
Medistep Healthcare operates in the pharmaceutical sector and is involved in the business of trading of pharmaceutical products, intimate care and hygiene products, surgical products & nutraceutical products and manufacturing of intimate and nutraceutical products.
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