New Delhi, Aug 8 (PTI) The Initial Public Offering (IPO) of Medistep Healthcare, a manufacturer of sanitary pads and energy powders, opened for subscription at Rs 43 apiece. Medistep Healthcare is looking to raise Rs 16.10 crore through the initial share sale, which will remain open until August 12, the company said in a statement. The shares of the company will be listed on the NSE’s SME platform Emerge, and the investors can bid for a minimum of 3,000 equity shares, it added. The IPO is entirely a fresh issue of equity shares of up to 37.44 lakh shares. Proceeds from the IPO will be utilised to fund capital expenditure towards the purchase of plant and machinery for expansion at the company’s existing manufacturing facility, to meet working capital requirements, and to meet general corporate purposes. “The proceeds from the IPO will strategically support our expansion efforts and reinforce our footprint in both domestic and international markets,” Medistep Healthcare’s MD Girdhari Lal Prajapati said. Founded in June 2023, Medistep is engaged in the manufacturing of sanitary pads and energy powders, and in the trading of pharmaceutical, nutraceutical, surgical, and intimate care products. The company reported revenue from operations of Rs 49.7 crore and profit after tax of Rs 4.14 crore in FY25. Fast Track Finsec is the sole book-running lead manager, while Cameo Corporate Services is the registrar for the issue. PTI HG DR DR