The Asston Pharmaceuticals IPO is a book built issue with a total issue size of ₹27.56 crore, consisting entirely of a fresh issue of 22.41 lakh equity shares. The proceeds will be used to upgrade machinery, meet working capital requirements, repay debt, and support the company’s expansion plans.
The Asston Pharmaceuticals IPO opens for subscription on July 9, 2025, and closes on July 11, 2025. The basis of allotment is expected to be finalized on Monday, July 14, 2025, and the shares are proposed to be listed on the BSE SME platform on Wednesday, July 16, 2025.
The price band for the Asston Pharmaceuticals IPO is set at ₹115 to ₹123 per share. The lot size is 1,000 shares per application. A retail investor must apply for a minimum of 2,000 shares, which requires an investment of ₹2,30,000. For HNI investors, the minimum investment is 3 lots (3,000 shares), amounting to ₹3,69,000.
This IPO is managed by Hem Securities Ltd, the Book Running Lead Manager (BRLM), and Bigshare Services Pvt Ltd serves as the registrar to the issue.
Investors considering the Asston Pharmaceuticals IPO should also evaluate:
- The company’s financial strength and profit margins
- Its growing export performance in African and Asian markets
- Strategic deployment of funds toward business growth and debt reduction
Refer to Asston Pharmaceuticals IPO RHP for detailed information.
Asston Pharmaceuticals IPO Details
| General | Detail |
|---|---|
| IPO Date | July 9, 2025 to July 11, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹115 to ₹123 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 22,41,000 shares (aggregating up to ₹27.56 Cr) |
| Reserved for Market Maker | 1,13,000 shares (aggregating up to ₹1.39 Cr) |
| Net Offered to Public | 21,28,000 shares (aggregating up to ₹26.17 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 62,71,360 shares |
| Share Holding Post Issue | 85,12,360 shares |
Asston Pharmaceuticals IPO Lot Size
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,46,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,46,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,69,000 |
| S-HNI (Max) | 8 | 8,000 | ₹9,84,000 |
| B-HNI (Min) | 9 | 9,000 | ₹11,07,000 |
Asston Pharmaceuticals IPO Promoter Holding
| Share Holding | Share Holding(%) |
|---|---|
| Share Holding Pre Issue | 68.76% |
| Share Holding Post Issue | 50.66% |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
Asston Pharmaceuticals IPO Timeline
| IPO Timeline | Dates |
|---|---|
| IPO Open Date | Wed, Jul 9, 2025 |
| IPO Close Date | Fri, Jul 11, 2025 |
| Tentative Allotment | Mon, Jul 14, 2025 |
| Initiation of Refunds | Tue, Jul 15, 2025 |
| Credit of Shares to Demat | Tue, Jul 15, 2025 |
| Tentative Listing Date | Wed, Jul 16, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 11, 2025 |
Asston Pharmaceuticals IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,13,000 (5.04%) |
| QIB Shares Offered | 10,60,000 (47.30%) |
| − Anchor Investor Shares Offered | 6,35,000 (28.34%) |
| − QIB (Ex. Anchor) Shares Offered | 4,25,000 (18.96%) |
| NII (HNI) Shares Offered | 3,22,000 (14.37%) |
| Retail Shares Offered | 7,46,000 (33.29%) |
| Total Shares Offered | 22,41,000 (100.00%) |
Category Reservation Detail Table
| Application Category | Bidding Limits |
|---|---|
| Only Individual investor (retail) | 2 lots |
| Only sNII | 3 lots – 8 lots |
| Only bNII | 9 lots and above |
Asston Pharmaceuticals IPO Anchor Investors Details
| Anchor Investors | Details |
|---|---|
| Bid Date | July 8, 2025 |
| Shares Offered | 6,35,000 |
| Anchor Portion Size (In Cr.) | 7.81 |
| Anchor lock-in period end date for 50% shares (30 Days) | August 13, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 12, 2025 |
About Asston Pharmaceuticals Limited
Asston Pharmaceuticals Limited, incorporated in April 2019, is a Navi Mumbai-based pharmaceutical company involved in the formulation, manufacturing, marketing, and global export of a wide range of pharmaceutical and nutraceutical products. The company operates under an asset-light model, primarily relying on WHO GMP certified third-party manufacturing units, ensuring compliance with international quality standards while maintaining operational flexibility.
Asston’s product portfolio includes tablets, capsules, syrups, injectables, sachets, ointments, gels, creams, and lotions. These products span across various therapeutic categories such as antibiotics, analgesics, antimalarials, antifungals, antidiabetics, multivitamins, and antacids. The company markets both branded generics under its own labels and contract manufactured products through loan licensing or principle-to-principle business models.
What truly sets the company apart is its export-oriented business approach. Asston Pharmaceuticals has successfully shipped over 230 consignments, valued at nearly USD 1.11 million in FY 2023 to 2024, across Africa and Asia, including key markets such as Sierra Leone, Senegal, Gambia, and Vietnam. It holds registered trademarks in multiple countries, strengthening its brand presence and legal protection internationally.
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The company is certified by both the Central and State FDA, accredited by NQA (Nuclear Quality Assurance), and follows Quality Management System (QMS) standards. Additionally, all product batches are tested at NABL accredited laboratories, ensuring that global quality benchmarks are met for every shipment.
Asston Pharmaceuticals IPO has been launched to support the company’s vision of expanding its global footprint, acquiring advanced manufacturing equipment, and enhancing working capital reserves. The proceeds will also be used to streamline operations and improve regulatory compliance infrastructure, enabling faster product registrations and new market entry.
Backed by an experienced leadership team with over 25 years in the pharmaceutical industry, Asston is committed to cost efficiency, regulatory excellence, and international market expansion. Its focused growth strategy, combined with a scalable business model and a strong export record, makes the Asston Pharmaceuticals IPO an opportunity worth analyzing for long-term investors.
Product Portfolio
- Tablets: Pain relievers, antibiotics, antidiabetics, antacids
- Capsules: Amoxicillin, vitamin blends, anti-inflammatory combos
- Syrups/Suspensions: Pediatric, antimalarial, antibiotic
- Injectables: SVP and LVP solutions for hospitals
- Topical: Ointments, gels, creams, and lotions
Competitive Strengths
- Export Focused Model with growing international sales
- WHO GMP approved contract manufacturers
- Experienced Promoters with 25 plus years in pharma
- Regulatory ready operations with in-house dossier team
- Wide Product Range across multiple dosage forms
- Trademarks in key export countries
- Cost efficient operations using asset light model
Company Financials
Asston Pharmaceuticals IPO Financial Information
| Category | Year 2025 | Year 2025 | Year 2024 | Year 2023 |
|---|---|---|---|---|
| Period Ended | 31 May 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 31.83 | 28.12 | 20.26 | 13.69 |
| Revenue | 6.21 | 25.61 | 15.84 | 7.19 |
| Profit After Tax | 1.32 | 4.33 | 1.36 | 1.06 |
| EBITDA | 1.93 | 6.16 | 2.55 | 1.52 |
| Net Worth | 12.04 | 10.72 | 6.39 | 1.99 |
| Reserves and Surplus | 5.77 | 4.45 | 5.61 | 1.29 |
| Total Borrowing | 7.83 | 7.26 | 6.82 | 5.25 |
| Amount in ₹ Crore | ||||
Asston Pharmaceuticals IPO Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROE | 50.56% |
| ROCE | 51.25% |
| Debt/Equity | 0.68 |
| RoNW | 40.36% |
| PAT Margin | 17.27% |
| EBITDA Margin | 24.60% |
| Price to Book Value | 12.07 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.90 | 9.32 |
| P/E (x) | 17.83 | 13.2 |
- Note:
- Pre-IPO EPS is based on pre-issue shareholding and FY 2025 earnings (March 31) as per the RHP.
- Post-Issue EPS is based on post-issue shareholding and annualized FY 2025 earnings (May 31), as available in the RHP.
Asston Pharmaceuticals IPO Objects of the Issue
| S.No. | Objects of the Issue | Expected Amount (in Million) |
|---|---|---|
| 1 | Funding capital expenditure requirements towards acquiring machinery in the manufacturing unit | 60 |
| 2 | Funding the incremental working capital requirements of the Company | 130 |
| 3 | Repayment and/or prepayment, in part or full, of certain of the outstanding borrowings availed by the Company | 10 |
| 4 | General Corporate Purposes |
Asston Pharmaceuticals IPO Pros & Cons
Pros
- Export-focused model with growing international presence
- WHO-GMP certified manufacturing through reliable partners
- Experienced promoters with over 25 years in pharma
- Wide product range across therapeutic segments
- In-house regulatory team for global dossier compliance
- Strong profit margins and asset-light operations
- Holds registered trademarks in multiple countries
Cons
- SME IPOs may have lower liquidity and higher price volatility
- Heavy reliance on third-party manufacturers
- Foreign currency and regulatory risks in export markets
- Requires working capital and debt repayment from IPO funds
- Limited market visibility compared to large pharma companies
Asston Pharmaceuticals Limited Contact Details
- Asston Pharmaceuticals Limited
4th Floor, Office No. A-431 Balaji Bhavan,
Plot No 42A Sector-11 CBD Belapur,
Navi Mumbai, Thane
Navi Mumbai, Maharashtra, 400614 - Phone: +91 22 49731411
- Email: info@asstonpharmaceuticals.com
- Website: http://www.asstonpharmaceuticals.com/
Asston Pharmaceuticals IPO Registrar
- Maashitla Securities Private Limited
- Phone: +91-11-45121795-96
- Email: ipo@maashitla.com
- Website: https://maashitla.com/allotment-status/public-issues
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