Astonea Labs IPO

About Astonea Labs IPO

The IPO of Astonea Labs Ltd comprises a fresh issue of up to 27,90,000 equity shares of face value of ₹10 each. There’s no offer for sale in this 100% book-built issue. The price band of the IPO ranges between ₹128 and ₹135. The lot size is 1000 shares.

The credit of shares to the demat account will take place on June 2, 2025. The listing of shares on the stock exchanges will take place on June 3, 2025. The initiation of refunds will take place on June 2, 2025. The tentative allotment date is May 30, 2025.

Objectives of Astonea Labs IPO

• Funding of expenses proposed to be incurred towards product registration in Bolivia
• Purchase and installation of plant and machineries for ointment production for the purpose of export in accordance with the international standards and protocols at Haripur, Haryana
• Advertising, marketing and brand building
• Investment in procuring hardware and software
• Funding of working capital requirements
• General corporate purposes

Industry Outlook

India’s domestic pharmaceutical market stood at US$ 42 billion in 2021 and is likely to expand to reach US$ 120-130 billion by 2030. Also, the cosmetic industry in India has emerged as a luminous gem in the country's economic landscape.

On the other hand, the Indian cosmetics sector is currently going through a phase of tremendous expansion. The market for cosmetics in India was estimated to be worth US$ 11.6 billion in 2017 and is projected to expand at a CAGR of 15-20% from 2017 to 2025.

Company Information

Astonea Labs Ltd specialises in the manufacturing and marketing of a wide range of pharmaceutical and cosmetic products. These include antibiotic drugs, anti-cold medications, antihistamines, and drugs for diabetes, cardiovascular diseases, gynaecological concerns, analgesics, fungal infections, and multivitamins. It also offers products for skin, tooth, and hair care, available in various forms such as gels, ointments, creams, lotions, oils, and serums.

Risks of Astonea Labs IPO

• Dependence on Third-party for Supply of Raw Materials

The company is dependent on third parties for the supply of raw materials and such third parties could fail in meeting their obligations, which may have a material adverse effect on its business, results of operations and financial condition.

• Reliance on Pharmaceutical Sales

The company’s business is significantly dependent on the revenue generated by manufacturing and selling the pharmaceuticals, which constitutes a substantial portion of its sales and such dependence exposes it to various risks that could materially affect its business operations, financial condition, and results of operations.

• Majority Revenue from Contract Manufacturing

Major revenue of the company is generated from contract manufacturing and any adverse factors affecting the outsourcing of manufacturing by their customers could have an adverse effect on its business, results of operations and financial condition.

Anchor Investor Bidding Date TBA

IPO Registrar and Book Running Lead Manager

• IPO Registrar: KFin Technologies Ltd
• Book Running Lead Manager: Oneview Corporate Advisors Pvt Ltd

Business Model

Astonea Labs Ltd manufactures and markets its cosmetic skin and hair care products namely “Glow Up” which was launched in the year 2022. Additionally, it introduced its pharmaceutical product line, "Regero," in 2024. Its commitment with these brands is to provide high-quality, affordable products that cater to the diverse needs of its customers.

Company Growth Trajectory

The revenue from operations of Astonea Labs Ltd grew from ₹30.0569 crores in FY 22 to ₹80.1909 crores in FY 24. Its PAT margin increased from 0.83% in FY 22 to 4.75% in FY 24. Experienced management, dedicated employee base and a scalable business model have helped in the company’s growth.

Market Position

Astonea Labs Ltd is based in Haryana, India equipped with a state-of-the-art manufacturing facility having a core manufacturing area of 7,500 square meters, meticulously designed and operated in strict conformity with ISO standards.

The company also exports its products directly to countries such as Iraq and Yemen. To further advance its export business directly, it has recently undergone an audit by the USFDA for OTC products and has submitted the compliance report. The milestone of USFDA for OTC products is significant as it positions it to expand its presence in the United States market and several other countries.

How to Check Allotment Status of Astonea Labs IPO?

1. Visit the Registrar's Website

• Go to the official website of KFin Technologies Ltd
• Click on ‘IPO Allotment Status’ under ‘Investors’ under ‘Products’
• Click on the any one of the links
• Choose IPO Name, enter application number, Demat account number or PAN number
• Enter captcha and click on ‘Submit’

2. Check on Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Choose the Issue Type
• Select the Issue Name from dropdown
• Put in either your application number or PAN number
• Check the box ‘I’m not a robot’
• Click on ‘Search’ to know allotment status

How to Apply for Astonea Labs IPO?

• Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.