Astonea Labs IPO: Date, Latest GMP, Price Band, Offer Size And More
Astonea Labs IPO is aimed at raising Rs 37.67 crore through a fresh issue of 27.9 lakh equity shares.
Close to five SME IPOs will hit the market in the coming week. Astonea Labs is one such Small and Medium Enterprise initial public offering (IPO) that will open for subscription on May 27. The company specialises in contract manufacturing of pharmaceutical and cosmetic products for clients in India and abroad.
The Astonea Labs IPO is a book-built issue worth Rs 37.67 crore. It consists entirely of a fresh issue of 27.9 lakh equity shares, with no offer-for-sale (OFS) component.
Here's all you need to know about the Astonea Labs IPO as investors look forward to its opening on Tuesday. Check the price band, lot size, allotment date, listing details and more.
Astonea Labs IPO Key Details
The price band for the Astonea Labs IPO has been fixed between Rs 128 and Rs 135 per share. Investors can apply for a minimum of 1,000 shares and in multiples thereof. For retail investors, both the minimum and maximum application is fixed at one lot, or 1,000 shares, amounting to Rs 1.35 lakh. High Net-Worth Individuals (HNIs) must apply for at least two lots, or 2,000 shares, requiring an investment of Rs 2.7 lakh.
Astonea Labs Ltd. has allocated its shares across various investor categories. The Qualified Institutional Buyers (QIBs) will be allocated up to 50% of the net issue. At least 35% of the net issue is reserved for retail investors. The Non-Institutional Investors (NIIs), will be allocated a minimum of 15%.
The subscription window for the issue will remain open between May 27 and May 29. The IPO allotment status is expected to be finalised on Friday, May 30. Refunds will be initiated on June 2, and the company is also expected to transfer shares to the Demat accounts on the same day.
The company has proposed to list its shares on the BSE SME platform on Tuesday, June 3.
Oneview Corporate Advisors Pvt. Ltd. is the book-running lead manager of the Astonea Labs IPO, while Kfin Technologies Limited is the registrar for the SME issue.
Astonea Labs IPO GMP
The latest grey market premium for the Astonea Labs SME IPO is Rs 0. With the upper end of the IPO’s price band fixed at Rs 135, the estimated listing price remains Rs 135, indicating a flat listing when the company lists on BSE SME on June 3.
Note: GMP is not an official source of data and is based on speculation.
Astonea Labs Ltd. Business And Financials
Astonea Labs produces and sells a wide range of pharmaceutical and cosmetic products, including antibiotics, cold remedies and antihistamines. The company also offers medications for diabetes, heart conditions, gynaecological health, infections and other ailments.
In addition, it provides skin, dental, and hair care items in various forms, including gels, creams and serums. The company also supplies packaging materials and raw ingredients to pharmaceutical and cosmetic manufacturers.
Use Of Proceeds
Astonea Labs plans to use the net proceeds from the IPO for several purposes. A portion will go towards covering registration expenses in Bolivia. The company also plans to buy and install plant and machinery for ointment production on the second floor of its existing facility. The funds will further support advertising, marketing and brand-building efforts to improve market presence. Additionally, Astonea Labs plans to invest in necessary hardware and software, while also using part of the proceeds to meet working capital needs and other general corporate requirements.
Financials
Astonea Labs Ltd. reported revenue of Rs 80.29 crore in the financial year 2023-24 (FY24), compared to Rs 67.26 crore in FY23. Astonea Labs Ltd.’s profit after tax also saw significant growth, rising to Rs 3.81 crore in FY24 from Rs 67 lakh in the preceding financial year.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
