The initial public offer (IPO) of Astonea Labs bids for 5,88,000 shares as against 20,00,000 shares on offer, as per BSE data as of 17:00 hours on Tuesday (27 May 2025). The issue was subscribed 0.29 times.
The issue opened for bidding on Tuesday (27 May 2025) and it will close on Thursday (29 May 2025). The price band of the IPO is fixed between Rs 128-135 per share. The minimum order quantity is 1,000 equity shares. The equity shares will list on BSE’s SME platform.
The IPO comprises fresh issue of 20,00,000 shares. The promoter and promoter shareholding will dilute to 72.30% from 98.42% Pre-IPO.
About 1,44,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 26,46,000 equity shares. The issue and the net issue will constitute 26.54% and 25.17% respectively of the post issue paid up equity share capital of the company.
The company intends to utilize the net proceeds for expenses related to product registration in Bolivia (South America), purchase and installation of plant and machinery for export-grade ointment production at its Haryana facility, advertising, marketing and brand building, investment in hardware and software, working capital requirements, and general corporate purposes.
Ahead of the IPO, Astonea Labs on Monday, 26 May 2025, raised Rs 10.66 crore from anchor investors. The board allotted 7,90,000 shares at Rs 135 per share to 4 anchor investors.
Astonea Labs specializes in the manufacturing and marketing of a wide range of pharmaceutical and cosmetic products. These include antibiotic drugs, anticold 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. The company has total 217 employees.
The company recorded revenue from operations of Rs 69.55 crore and net profit of Rs 4.10 crore for the period ended 31 December 2024.