Astona Labs IPO Listing: Shares of Astona Labs, a contract manufacturer of pharmaceutical and cosmetex products, got listed today on the BSE SME platform with a gain of more than 1.5%.
The IPO had received a mixed response, and the Qualified Institutional Buyers (QIB) category was not fully subscribed.
Shares were issued at ₹135 per share, and listed at ₹137.45, giving IPO investors a listing gain of 1.81%.
The stock briefly rose to ₹138.00 but settled around ₹137.50, giving investors a return of 1.85%.
How Astona Labs Plans to Use IPO Funds
Astona Labs’ ₹37.67 crore IPO was open for subscription from May 27 to May 29. Overall, the IPO was subscribed 1.79 times. Here’s how each investor category responded:
QIB (Qualified Institutional Buyers): 0.70 times
NII (Non-Institutional Investors): 5.60 times
Retail Investors: 1.69 times
Under the IPO, 27.90 lakh fresh equity shares with a face value of ₹10 each were issued. The funds raised will be used as follows:
₹1.29 crore for company registration in Bolivia, South America
₹5.23 crore for setting up plants and buying machinery at existing facilities
₹4.95 crore for marketing and brand promotion
₹68.4 lakh for investment in hardware and software
₹19.75 crore for working capital needs
Remaining funds for general corporate purposes
About Astona Labs
Astona Labs was established in 2017 and is involved in contract manufacturing of pharmaceutical and cosmetic products for domestic and international clients.
The company also offers services like packaging and raw material supply.
It has launched successful brands like Glow Up and Regero, and is planning to launch a new brand named Avicel.
Financial Performance:
FY 2022: Net profit of ₹25 lakh
FY 2023: Net profit rose to ₹67 lakh
FY 2024: Jumped to ₹3.81 crore
Revenue has also grown significantly, with a CAGR of over 63%, reaching ₹80.29 crore in FY 2024.
For the current financial year (April–December 2024), the company has reported:
Net Profit: ₹4.10 crore
Revenue: ₹69.69 crore.
