Asston Pharmaceuticals Limited launches a book-built BSE SME IPO of ₹27.56 crore in the price band ₹115–₹123 per share. The issue runs from July 9–11, 2025.

Here’s a complete look at business profile, IPO structure, objectives, GMP, financials, and our recommendation.

Company Overview

✅ Asston Pharmaceuticals manufactures and exports pharmaceutical formulations and nutraceutical products under its own brand “Asston”.

⭐ Key offerings:

• Tablets

• Capsules

• Oral liquids

• External preparations (ointments, creams, gels, lotions)

• Oral powders (sachets, dry syrup)

✅ Market focus on India and various African regions via exports.

⚙️ Supplies to hospitals, clinics, pharmacies, and wholesalers.

Promoters & Management

Led by:
✔️ Dr. Ashish Sakalkar – Expertise in formulations
✔️ Mrs. Saili More – Market operations
✔️ Mr. Sachin Badakh – Export strategy

✅ Team size: 50+ professionals.
✅ Known for consistent growth in Indian and export markets.

IPO Structure & Details

Important IPO Dates

Grey Market Premium (GMP)

✅ As of July 9, 2025, GMP is ₹12, suggesting ~9.75% premium over IPO price.

Note: GMP is an unregulated, informal indicator – no guarantee of actual listing price.

IPO Subscription Status (Live Update)

✅ As of 11:30 AM on July 9, 2025 (First Day):

• Overall Subscription: 0.22 times

Investors can check real-time updates on BSE SME platform.

Anchor Investors

⭐ Raised ₹7.81 Crores from Anchor Investors at ₹123 per share.
⭐ Allotted 6,35,000 shares.

✅ Reflects institutional confidence in the issue.

Objectives of the IPO

Proceeds to be used for:

1️⃣ ₹630 lakh – Acquisition of machinery for manufacturing unit
2️⃣ ₹1,300 lakh – Incremental working capital requirements
3️⃣ ₹100 lakh – Repayment/prepayment of borrowings
4️⃣ General corporate purposes

✅ Supports expansion, efficiency, and financial health.

Lead Manager & Market Maker

• Book Running Lead Manager: SOBHAGYA CAPITAL OPTIONS PRIVATE LIMITED

• Registrar: MAASHITLA SECURITIES PRIVATE LIMITED

• Market Maker: JSK SECURITIES AND SERVICES PRIVATE LIMITED

Financial Performance

Strong growth across revenues, EBITDA, and PAT:

✅ Revenue nearly quadrupled in two years
✅ Consistent EBITDA and PAT growth

Valuation Metrics

✅ Fully valued, but annualised P/E remains reasonable
✅ Very strong return ratios

Strengths

⭐ In-house brand with export growth in Africa
⭐ Diverse pharma and nutraceutical range
⭐ Proven profit expansion over 3 years
⭐ High ROE, ROCE and consistent margins
⭐ Anchored by experienced promoters

Risks

⚠️ High SME IPO ticket size (₹2.46 lakh minimum)
⚠️ Regulatory risks in pharma industry
⚠️ FX exposure for African exports
⚠️ Highly competitive segment with pricing pressure

Allotment & Listing

✅ Allotment Date: July 14, 2025
✅ Listing Date: July 16, 2025 on BSE SME

How to check allotment:
1️⃣ Go to Registrar’s website (MAASHITLA)
2️⃣ Select "Asston Pharmaceuticals Limited IPO"
3️⃣ Enter Application Number, PAN, or DP Client ID
4️⃣ Submit to view status

Analyst View: Should You Subscribe?

✅ GMP indicates ~9.75% listing gain potential
✅ Strong revenue and profit growth trends
✅ High return metrics support valuation

Our recommendation:
✔️ Apply for listing gains, best suited for risk-tolerant SME investors.
✔️ Fully priced but backed by robust fundamentals.

Final Verdict

✅ Recommended for listing gains given decent GMP and financial strength.
✅ Risk-aware investors can consider subscribing for short-term pop and hold for medium-term Africa export story.

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  Disclaimer:

  This article is intended for informational and educational purposes only and does not constitute investment advice. Readers are advised to consult their financial advisor before making any investment decisions. Investments in securities are subject to market risks. Please read all related documents carefully before applying for the IPO. The data provided is based on publicly available information and may be subject to change.

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  The Upcoming IPOs in this week and coming weeks are NSDL, Anthem Biosciences, Spunweb Nonwoven, Smartworks Coworking, Asston Pharmaceuticals.

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  The Current active IPO are CFF Fluid Control, Anthem Biosciences, Glen Industries, Smarten Power Systems, Travel Food Services, Chemkart India.

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