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Astonea Labs, a company that makes medicines and beauty products under contract for other businesses (this is called contract manufacturing), is getting ready to offer its shares to the public for the first time. This offering, known as an Initial Public Offering (IPO), is for Small and Medium Enterprises (SMEs). The company works with clients in India and other countries.
The Astonea Labs IPO is a book-built issue planned to raise ₹37.67 Crore. This amount will come entirely from selling 27.9 lakh new shares of the company, meaning no shares are being sold by existing owners. The money raised is intended for several uses, including paying for registration steps in Bolivia, buying and setting up machinery for making ointments, funding advertising and marketing efforts, investing in necessary computer equipment, covering daily business costs (working capital needs), and other general company purposes.
Price Range: ₹128 to ₹135 per share
Minimum Application: 1,000 shares (1 lot)
For retail investors, the minimum and maximum application is 1 lot, amounting to ₹1.35 Lakh at the highest price.
High Net-Worth Individuals (HNIs) must apply for at least 2 lots (2,000 shares), requiring an investment of ₹2.7 Lakh.
Refer the following table
Event |
Date |
|---|---|
IPO Opens |
May 27 |
IPO Closes |
May 29 |
Allotment Finalisation |
May 30 (Friday) |
Refunds Begin |
June 2 |
Shares Credited to Demat Accounts |
June 2 |
Listing on BSE SME Platform |
June 3 (Tuesday) |
Astonea Labs has set aside shares for different types of investors. Up to 50% of the total shares are for big professional investors (Qualified Institutional Buyers). At least 35% are reserved for individual investors (retail investors). A minimum of 15% will be given to other large investors who are not institutions (Non-Institutional Investors).
The company plans for its shares to begin trading on the BSE SME stock platform on Tuesday, June 3. Oneview Corporate Advisors Pvt. Ltd. is managing the IPO book-building process, and Kfin Technologies Limited is the official registrar for the issue.
Financially, Astonea Labs reported revenue of ₹80.29 crore in the financial year ending March 2024 (FY24), an increase from ₹67.26 crore in the previous year (FY23). The company's profit after tax also showed significant growth, rising to ₹3.81 Crore in FY24 from ₹67 Lakh in FY23.
Astonea Labs' business includes making and selling various pharmaceutical products like antibiotics, cold remedies, and medicines for diabetes, heart issues, and infections. They also make skin, dental, and hair care products. Additionally, they supply packaging and raw materials to other manufacturers.
Note: Investing in IPOs involves risks. Investors should consult with financial advisors and carefully read the official documents before investing.
Disclaimer: This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.
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