Asston Pharmaceuticals IPO Details
Issue Date
09 Jul - 11 Jul'25
Price Range
₹115 - ₹123
Lot Size
2000
IPO Size
₹27.56 Cr
Asston Pharmaceuticals IPO Listing Details
Listing On
16 Jul'25
Issue Price
₹123
Listed Price
₹ 119
Retail Gain/Listing Gain
▼-3.25%
Schedule of Asston Pharmaceuticals IPO
Start date
09/07/2025
End date
11/07/2025
Allotment of bids
Refund Initiation
15/07/2025
Listing on exchange
16/07/2025
About Asston Pharmaceuticals IPO
Asston Pharmaceuticals Limited IPO is an IPO of up to 22,41,600 equity shares, aggregating up to ₹27.56 crores. It consists of a fresh issue of up to 22,41,600 equity shares, aggregating up to ₹27.56 crores. The shares will be allotted on June 14, 2025. The credit of shares to the demat account will take place on July 15, 2025, and the initiation of refunds will take place on July 15, 2025.
Asston Pharmaceuticals is engaged in the manufacture and export of pharmaceutical formulations and nutraceutical products in domestic and various African markets. The company is involved in the manufacturing and marketing of tablets, capsules, oral liquid, external preparations, etc.
The company has also set up their own regulatory department for formulation development and has tie-ups with 2 NABL accredited laboratories, ensuring adherence to industry standards from production to export. From manufacturing to exports and distributions, the company takes responsibility and oversees each phase of the supply chain.
The company is FDA certified by both the Central and State FDA, accredited by NQA (Nuclear Quality Assurance), and complies with the Quality Management System (QMS) standards.
Objective of Asston Pharmaceuticals IPO
- Funding capital expenditure requirements towards acquiring machinery in the manufacturing unit.
- Funding the incremental working capital requirements of the company.
- Repayment and/or prepayment, in part or full, of certain of the outstanding borrowings availed by the company.
- General corporate purposes.
Asston Pharmaceuticals IPO Valuation
Upper Price Band (₹) | ₹123 |
Existing Shares to be Sold | - |
Fresh Issue | Up to 22,41,600 Equity Shares, aggregating up to ₹27.56 crores |
EPS (₹) For the year ended March 31, 2025 | 6.90 |
Asston Pharmaceuticals IPO Lot Size
Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,46,000 |
Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,46,000 |
HNI (Min) | 3 | 3,000 | ₹3,69,000 |
Asston Pharmaceuticals IPO Share offer and Subscription Details
QIB Shares Offered | Not more than 50% of the Net Issue |
Retail Shares Offered | Not less than 35% of the Net Issue |
NIIs Shares Offered | Not less than 15% of the Net Issue |
Industry Outlook
Market size of the Indian pharmaceuticals industry is expected to reach US$ 6500 crores by 2024, US$ 13,000 crores by 2030, and US$ 45,000 crores by 2047. According to the government data, the Indian pharmaceutical industry is worth approximately US$ 5,000 crores with over US$ 2,500 crores of the value coming from exports. About 20% of the global exports in generic drugs are met by India. The current market size of the medical devices sector in India is estimated to be US$ 1,100 crores and its share in the global medical device market is estimated to be 1.5%. The government has set ambitious targets to boost the medical devices industry in India, aiming to elevate it from its current US$ 1,100 crores valuations to US$ 5,000 crores by 2030.
Company Information
Asston Pharmaceuticals Limited is engaged in the manufacturing and export of both pharmaceutical formulations and nutraceutical products in domestic and various African markets. Presently, the company is involved in the business of manufacturing and marketing of tablets, capsules, oral liquid, external preparations (ointment, cream, gel, and lotion) and oral powder (sachet, dry syrup) etc. Apart from manufacturing products for direct sales, they also manufacture various pharmaceutical products for different marketers on loan license or on a contract manufacturing basis. Their business is primarily conducted on a principal-to-principal basis with various marketers.
Asston Pharmaceuticals IPO Strengths
Formulation expertise.
Experienced Promoters.
Wide range of products.
Strategic Location.
Skilled workforce.
Risks of Asston Pharmaceuticals IPO
The company operates in the pharmaceutical sector, which is extensively regulated; any failure on their part to comply with the existing and future statutory and/or regulatory requirements in the pharmaceutical sector could adversely affect their business
They are subject to various laws and governmental regulations in India and other jurisdictions concerning their manufacturing operations, safety, health, environmental protection, and labour.
All their manufacturing facilities are situated at Ambernath, Thane, Maharashtra, resulting in concentration in a single region. Any interruption for a significant period in these facilities may in turn adversely affect their business, financial condition
Their registered office and factory, and all the existing contract manufacturers facility are based in Maharashtra. Thereby resulting in concentration in a single region, posing a concentration risk.
Their business activities are exposed to fluctuations in the prices of raw materials.
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The company is dependent on third-party suppliers for procuring the raw materials required for manufacturing of their products. They are exposed to fluctuations in the prices of these raw materials as well as its unavailability, particularly as they typically do not enter into any long-term supply agreements with their suppliers for raw materials.
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The loss of contract manufacturing tie-ups and the low entry barrier for contract manufacturing can affect production, order intake, revenue, cash flow, and profitability. The absence of exclusive agreements increases the risk of delays or disruptions in order execution, further impacting business operations.
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They have substantial working capital expenditure and may require additional financing to meet those requirements and have risk of receivables, which could have an adverse effect on their results of operations and financial condition.
All Financial Information about Asston Pharmaceuticals IPO
Comparison with peers
P/E | --- | 6.70 | 51.38 |
EPS (Basic)(₹) | 6.90 | 6.26 | 1.76 |
Return on Net Worth (%) | 40.36% | 16.94% | 4.89% |
NAV per share (₹) | 17.09 | 36.96 | 35.86 |
Anchor Investor Information
The Anchor Investor Bid/Issue Period shall be one Working Day prior to the Bid/Issue Opening Date.
IPO Registrar and Book Running Lead Managers
Book running lead managers:
Sobhagya Capital Options Private Limited
Registrar for the IPO is Maashitla Securities Private Ltd
Asston Pharmaceuticals Business Model
The company earns its revenue from the following sources:
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Export Sales: They develop and manufacture pharmaceutical products across various therapeutic areas for emerging markets through their WHO-GMP approved manufacturing facility at Ambarnath (Thane), Maharashtra.
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Sales on Contract Manufacturing/Loan License through Merchant Exporter: The company sells its products to a merchant exporter, who in turn sells them onwards.
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Domestic Sales: Sales within the domestic market are influenced by local economic conditions, consumer demand, and competitive pressures.
Asston Pharmceuticals Company Growth Trajectory
Total income for the financial year 2023-24 stood at ₹15.84 crores, whereas in the financial year 2022-23, the same stood at ₹7.19 crores, representing an increase of 120.26%. During the financial year 2023-24 the net revenue from the operation of the company increased to ₹15.59 crores as against ₹6.54 crores in the financial year 2022-23, representing an increase of 138.39%.
Asston Pharmaceuticals Company Market Position
They have established a relationship with around 10 pharmacies globally to whom they regularly export their products. They export their products to regulated markets like West Africa and South Africa. Their primary focus is on emerging markets in Africa and Asia.
Asston Pharmaceuticals IPO Company Profit & Loss
Total Income (₹crores) | 10.555 | 7.192 | 15.841 | 25.6102 |
Profit Before Tax (₹crores) | 0.159 | 1.413 | 1.817 | 5.6996 |
Net Profit (₹crores) | 0.111 | 1.057 | 1.360 | 4.3251 |
EBITDA (₹crores) | (0.355) | 1.517 | 2.546 | 6.1593 |
EPS (₹) | 11.62 | 1.89 | 2.37 | 6.90 |
Company Cash Flow
Profit before tax (₹crores) | 0.159 | 1.413 | 1.817 | 5.6996 |
Net Cash from Operating Activities (₹crores) | (1.186) | (0.316) | (3.800) | 0.1629 |
Net Cash from Investing Activities (₹crores) | (0.002) | (0.912) | (0.005) | 0.8680 |
Net Cash from Financing Activities (₹crores) | 1.293 | 1.215 | 3.688 | 0.5125 |
Cash and Cash Equivalents (₹crores) | 0.137 | 0.124 | 0.006 | 0.1927 |
How To Check Allotment Status of Asston Pharmaceuticals IPO?
You can check the allotment status of shares either on the website of the Bombay Stock Exchange (BSE) or on the website of the registrar Maashitla Securities Private Limited. To check the status on the BSE website:
- Visit the BSE website
- Click on “Investor Services” and choose “Application Status Check”
- Choose the issue type — Equity or Debt (Equity in this case)
- Select the Issue Name from the drop-down. The issue name is the company’s name, which is Asston Pharmaceuticals Limited
- Enter your application number or PAN number
- Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status
Follow these steps to know the allotment status on the registrar’s website:
- Visit the Maashitla Securities Private Limited website
- Choose “Public Issues” from the “Investor Services” drop-down
- Select Asston Pharmaceuticals Limited from the drop-down
- Enter your PAN number or Application number
- Click on “Submit” to know the allotment status
How to Apply for Asston Pharmaceuticals IPO?
To apply for this IPO:
- Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section
- Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for
- Step 3: Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange
- Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds
- Step 5: Approve Request: Your funds will be blocked once you approve the mandate request on your UPI
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