Astonea Labs specializes in the manufacturing and marketing of a wide range of pharmaceutical and cosmetic products. These include antibiotic drugs, anti-cold medications, antihistamines, and drugs for diabetes, cardiovascular diseases, gynecological concerns, analgesics, fungal infections, and multivitamins. They also offer products for skin, tooth, and hair care, available in various forms such as gels, ointments, creams, lotions, oils, and serums.

Astonea Labs, an Book Built Issue Issue amounting to ₹ 37.66 Crores, consisting entirely an Fresh Issue of 27.90 Lakh Shares. The subscription period for the Astonea Labs IPO opens on May 27, 2025, and closes on May 29, 2025. The allotment is expected to be finalized on or about Friday, May 30, 2025, and the shares will be listed on the BSE SME with a tentative listing date set on or about Tuesday, June 3, 2025.

The Share Price Band of Astonea Labs IPO is set at ₹ 128 to ₹ 135 per equity share. The Market Capitalisation of the Astonea Labs Limited at IPO price of ₹ 135 per equity share will be ₹ 141.89 Crores. The lot size of the IPO is 1,000 shares. Retail investors are required to invest a minimum of ₹ 1,35,000, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (2,000 shares), amounting to ₹ 2,70,000.

ONEVIEW CORPORATE ADVISORS PRIVATE LIMITED is the book running lead manager of the Astonea Labs IPO, while KFin Technologies Limited is the registrar for the issue. Basan Equity Broking Limited is the Market Maker for Astonea Labs IPO.

Astonea Labs Limited IPO GMP Today
The Grey Market Premium of Astonea Labs Limited IPO is expected to be ₹ 0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only

Astonea Labs Limited IPO Live Subscription Status Today: Real-Time Update
As of 01:30 PM on 27 May, 2025, the Astonea Labs Limited IPO live subscription status shows that the IPO subscribed 0.11 times on its First day of subscription period. Check the Astonea Labs IPO Live Subscription Status Today at BSE.

Astonea Labs IPO Anchor Investors Report
Astonea Labs has raised ₹ 10.66 Crores from Anchor Investors at a price of ₹ 135 per shares in consultation of the Book Running Lead Managers. The company allocated 7,90,000 equity shares to the Anchor Investors. Check Full List of Astonea Labs Anchor Investor List.

Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion.

Astonea Labs Limited Day Wise IPO GMP Trend

Date	IPO Price	Expected Listing Price	GMP	Last Updated
21 May 2025	₹ 135	₹ 135	₹ 0 (0.00%)	04:00 PM; 21 May 2025

Astonea Labs Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Astonea Labs IPO allotment date is 30 May, 2025, Friday. Astonea Labs IPO Allotment will be out on 30th May, 2025 and will be live on Registrar Website from the allotment date. Check Astonea Labs IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Astonea Labs Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Astonea Labs Limited IPO
Astonea Labs proposes to utilise the Net Proceeds towards the following objects: 
1) ₹ 128.97 Lakh is required for Funding of expenses proposed to be incurred towards Product registration in Bolivia, South America;
2) ₹ 523.40 Lakh is required for Purchase and installation of plant and machineries for ointment production for the purpose of export in accordance with the international standards and protocols, on the 2nd floor of the Existing Premises (factory at Haripur, Tehsil - Raipur Rani, District Panchkula, Haryana to be referred to as the “Existing Premises”);
3) ₹ 495.15 Lakh is required for Advertising, marketing and brand building;
4) ₹ 68.38 Lakh is required for Investment in procuring hardware and software;
5) ₹ 1,975.00 Lakh is required for Funding of working capital requirements; and
6) General corporate purposes

Refer to Astonea Labs Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.

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About Astonea Labs Limited

Business Overview

Astonea Labs specializes in the manufacturing and marketing of pharmaceutical and cosmetic products, including antibiotics, anti-cold medications, antihistamines, diabetes and cardiovascular drugs, gynecological treatments, analgesics, antifungals, and multivitamins. The cosmetic segment includes skin, tooth, and hair care products in forms such as gels, creams, lotions, oils, and serums—all compliant with pharmaceutical and cosmetic industry standards.

Headquartered in Haryana, India, the company operates a 7,500 sq. meter ISO-certified manufacturing facility. It is engaged in contract manufacturing for Indian and international clients, alongside marketing its own brands—"Glow Up" and "Regero"—in the domestic market. "Glow Up" products are also sold via Amazon and Tata 1MG. A new skincare range under the brand "Avicel" is set to launch soon.

Astonea Labs also deals in the trading of packing and raw materials used in pharmaceuticals and cosmetics. On the global front, products are exported to Iraq and Yemen, and following a recent USFDA audit for OTC products, the company is strategically positioned to enter the U.S. and other international markets. As of December 31, 2024, the Company have 217 employees on payroll and they also engage contractual labour as per operational requirements resulting in fluctuation in the number of contract labour. The Banker to the Company is Small Industries Development Bank of India, HDFC Bank Ltd and IDFC First Bank.

Industry Analysis

India's Global Pharma Leadership

India has cemented its position as a global powerhouse in pharmaceuticals. Known for its affordable generic drugs and vaccines, the Indian pharmaceutical industry ranks third globally in volume and 14th in value, reflecting both scale and impact.

With a CAGR of 9.43% over the past nine years, the sector encompasses segments like generic drugs, biosimilars, contract manufacturing, biologics, and over-the-counter medicines. Over 50% of global vaccine demand, 40% of generic drugs in the U.S., and 25% of UK’s medicine are supplied by India. The country boasts 3,000 drug companies and 10,500 manufacturing units, with 500 API producers covering 8% of the global API market.

Notably, India houses the highest number of USFDA-compliant plants outside the U.S., giving it a competitive edge in regulated markets.

Export Performance and Global Reach

India exported $27.9 billion worth of drugs and pharmaceuticals in FY24, serving over 200 countries. The United States remains the largest export destination, followed by Western Europe, Japan, and Australia. About 20% of the global generic export volume originates from India.

India supplied 45 tonnes and 400 million tablets of hydroxychloroquine to 114 nations during the pandemic. It also distributed 301 million doses of COVID-19 vaccines to over 100 countries, showcasing its capability and international goodwill.

Market Size and Growth Trajectory

• Current Valuation (2023–24): ~$50 billion (with over $25 billion from exports)

• 2024 Target: $65 billion

• 2030 Target: ~$130 billion

• 2047 Projection: ~$450 billion

According to CRISIL, domestic sales are expected to grow by 8–10% in FY24, while ICRA estimates a 9–11% growth rate in the same period.

Medical Devices & Biotechnology Sectors

India’s medical devices market, valued at $10.36 billion in FY20, is expected to skyrocket to $50 billion by 2025 at a CAGR of 37%. The biotechnology industry—comprising biopharma, bio-agriculture, and bioinformatics—was valued at $137 billion in 2022, with a goal to reach $300 billion by 2030.

Government Support and Future Outlook

The Indian government is focusing on:

• National Health Protection Scheme

• Rural healthcare initiatives

• Inexpensive generic medicine outlets

• Promoting lifesaving drugs and chronic disease therapies like anti-diabetes, anti-depressants, and oncology medications

Medicine spending in India is projected to grow 9–12% over five years, placing it among the top 10 global markets.

Evolution of the Indian Cosmetic Industry

India’s cosmetic industry is undergoing phenomenal growth, driven by:

• Rising disposable income

• Youth population embracing global beauty standards

• Increased awareness due to digital media and e-commerce

From $11.6 billion in 2017, the industry is expected to reach $20 billion by 2025, with a CAGR of 15–20%. Both organized (44%) and unorganized (55%) sectors are contributing significantly.

Future of Beauty and Skincare in India

The sector now spans:

• Cosmetics and personal care

• Beauty appliances

• Wellness services

Consumers are increasingly shifting toward self-care and preventive skincare routines, reducing dependence on traditional medical treatments.

With the booming demand, numerous new entrants are bringing innovative products and ingredients, supported by digital channels and influencer marketing.

Conclusion

India’s pharmaceutical and cosmetic sectors are not only pillars of the domestic economy but also vital players in the global supply chain. With ongoing investments, government initiatives, and export strength, both industries are poised for exponential growth through 2030 and beyond

Business Strengths

1. Experienced Management & Skilled Workforce
Led by a management team with over 6 years of industry experience, Astonea Labs has established a sustainable business model through strong supplier and customer relationships. The company employs technically qualified professionals and follows strategies to recruit and retain skilled employees, emphasizing the vital role of human resources in organizational success.

2. Scalable Business Model
Astonea Labs operates a customer-centric and order-driven model, optimized for resource efficiency and quality assurance. Growth is driven by market expansion and new product development across domestic and international markets, achieving economies of scale through consistent quality and strategic marketing.

3. Diverse Product Portfolio
The company offers a broad range of pharmaceutical and cosmetic products, including antibiotics, antihistamines, anti-cold, diabetes and cardiovascular drugs, gynecological treatments, analgesics, antifungals, multivitamins, and skin and hair care solutions. Products are available in various forms like tablets, capsules, gels, creams, lotions, oils, and serums, all meeting strict industry standards.

4. Commitment to Quality Service
Astonea Labs emphasizes timely and high-quality service, backed by stringent systems to ensure on-time delivery and minimal product rejections. This focus has fostered customer loyalty, retention, and repeated orders, contributing to the continuous expansion of its customer base

Business Strategies

1. Expansion of Product Portfolio
Introducing new product ranges to optimize manufacturing capacity, manpower, and resources, supported by an established customer base, strong trade relations, and industry goodwill.

2. Strengthening Existing Offerings
Enhancing market penetration and reach within the current product portfolio by leveraging market insights, deepening customer relationships, and identifying innovation and differentiation opportunities.

3. Export Division Growth
Focusing on global market expansion through regulatory compliance, manufacturing expertise, and quality assurance. Emphasis on efficient logistics, timely delivery, and market-specific solutions to build strong international customer relationships.

4. Targeting New and Regulated Markets
Strategic entry into unexplored and regulated markets, with tailored growth strategies aligned to local regulations. Growth to be driven by commercialization of registered products, market evaluations, and potential acquisitions or strategic partnerships.

5. Leveraging Marketing Capabilities
Continuous focus on enhancing client satisfaction by utilizing strong marketing skills and industry relationships, ensuring effective customer engagement and sustained business development

Business Risk Factors and Concerns

1. Non-Compliance with FDA’s OTC Monograph User Fee Program
Failure to meet the annual obligation under the OTC Monograph User Fee Program has resulted in all OTC monograph products being classified as misbranded under Section 502(ff) of the FD&C Act. This prohibits their legal sale in interstate commerce and places the company on the FDA’s arrears list, which may harm reputation and business operations until compliance is restored.

2. High Dependency on Third-Party Suppliers
A significant proportion of raw materials, such as glycerin, menthol, niacinamide, paracetamol, azithromycin, and others, are sourced from third-party suppliers. Between 33.90% and 55.74% of total purchases in recent fiscal years were from the top 10 suppliers. Any failure on the part of these suppliers could disrupt production and adversely affect operational continuity.

3. Concentration in Pharmaceutical Segment
A major share of revenue is derived from the pharmaceutical segment. This exposes the company to risks from regulatory shifts, market volatility, healthcare policy changes, and competitive disruptions. Such factors may lead to revenue loss or increased operational challenges.

4. Reliance on Contract Manufacturing
The primary business model depends on contract manufacturing for third-party clients. Any decline in outsourcing demand, client attrition, or pricing pressures could materially affect revenue and profitability.

5. Exposure to Regulatory Risks
Operating in the pharmaceutical and cosmetic sectors involves compliance with stringent regulatory norms across multiple jurisdictions. Non-compliance may lead to litigation, financial penalties, or damage to reputation. Despite adherence to SOPs, quality standards, and internal audits, the company remains vulnerable to regulatory changes and audit findings in both regulated and semi-regulated markets.

Astonea Labs faces several operational, regulatory, and dependency-related risks that could materially impact its financial performance, including non-compliance with FDA user fee requirements, supplier dependency, industry concentration, regulatory exposure, and overreliance on contract manufacturing and the pharmaceutical segment.