Asston Pharmaceuticals IPO listing: Shares of AsstonPharmaceuticals made a weak debut on the bourses on Wednesday, July 16, listing at ₹119 on BSE SME, a discount of 3.25 percent over its IPO price of ₹123.
The SME initial public offering (IPO), with a total issue size of ₹27.63 crore, was open for bidding from July 9 to July 11. The offering received an overwhelming response from investors, closing with a subscription of 186.55 times.
The IPO attracted bids for 27.85 crore shares compared to the 14.93 lakh shares on offer. The retail investor category was subscribed 172.06 times while the non-institutional investor (NII) segment witnessed 353.14 times subscription. Meanwhile, the qualified institutional buyer (QIB) portion was bid the most, 85.76 times.
About the IPO
The IPO was entirely a fresh issue of 22.41 lakh shares with no offer-for-sale. The lot size for the IPO was fixed at 1,000 shares, with the minimum investment for retail investors set at ₹2.30 lakh, equivalent to applying for two lots or 2,000 shares.
The company will use the net proceeds to acquire machinery, meet working capital needs, repay or prepay certain borrowings, and for general corporate purposes.
Ahead of the public offering, the company successfully raised ₹7.80 crore from anchor investors on July 8.
Sobhagya Capital Options Ltd is the book-running lead manager of the Asston Pharmaceuticals IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for the IPO is JSK Securities and Services Private Limited.
About the Company
Incorporated in 2019, Asston Pharmaceuticals Limited is a pharmaceutical company focused on the global export of healthcare products. It offers a broad portfolio that includes tablets, capsules, sachets, and syrups across multiple therapeutic segments such as analgesics, antibiotics, antifungals, and vitamins. The company operates both through direct manufacturing and contract manufacturing or loan licensing arrangements, typically following a principle-to-principle model with various marketing partners.
Over the past three financial years, the company has shown significant improvement in its financial performance. Net profit grew from ₹1.06 crore in FY23 to ₹1.36 crore in FY24, before more than tripling to ₹4.33 crore in FY25. Similarly, total income increased steadily, rising from ₹7.19 crore in FY23 to ₹15.84 crore in FY24, and further to ₹25.61 crore in FY25, reflecting robust operational growth and expanding business scale.
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