Astonea Labs IPO opens for bidding: Here’s what you need to know before subscribing

The initial public offering (IPO) of Astonea Labs, a company engaged in manufacturing pharmaceutical and cosmetic products, opened for subscription on Tuesday. The company is aiming to raise Rs 37.67 crore through a fresh issue of 27.90 lakh shares. Investors can subscribe to the IPO until May 29. Shares of the company are slated to list on the BSE SME platform, with a tentative listing date of June 3.

Oneview Corporate Advisors is the book-running lead manager, and KFin Technologies is the registrar to the issue.

Astonea Labs IPO price band

The price band for the IPO is set at Rs 128 to Rs 135 per share. Retail investors can apply for a minimum of 1,000 shares, which requires an investment of Rs 1,35,000 at the upper price band. High-net-worth individuals (HNIs) can bid for a minimum of two lots (2,000 shares), requiring Rs 2,70,000.

About the company

Founded in 2017, Astonea Labs is involved in contract manufacturing of a wide range of pharmaceutical and cosmetic products. Its offerings include antibiotics, anti-cold drugs, diabetic care, heart and gynecological medicines, as well as personal care products like gels, serums, creams, and more.

The company also markets its own brands -- "Glow Up" (skincare) and "Regero" (pharma). It plans to launch another brand called "Avicel" and exports its products to countries like Iraq and Yemen.

Use of IPO Funds

The company will use the IPO proceeds for registration expenses in Bolivia, purchase of machines for ointment production, advertising and brand promotion, buying IT hardware and software, working capital needs and general corporate purposes

Financial snapshot

Astonea Labs posted a profit of Rs 4.10 crore in the nine months ended December 2024 on a revenue of Rs 69.69 crore. The company has shown strong growth over the years with a return on equity (ROE) of 37.86% and PAT margin of 4.75%.

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