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Asston Pharmaceuticals IPO
Asston Pharmaceuticals Ltd
₹1,15,000 /1000 sharesMinimum Investment
Asston Pharmaceuticals IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹123.00 | ₹119.00 | -₹4.00 (3.25%) |
Asston Pharmaceuticals IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 9 Jul ‘25 - 11 Jul ‘25 | ₹2,30,000 | 1,000 | ₹115 - ₹123 |
| Issue Size | IPO Doc |
|---|---|
| 27.56Cr | RHP PDF |
Subscription rate
As of 11 Jul'25, 04:00 PM
| Qualified Institutional Buyers | 3.51x |
| Non-Institutional Investor | 0.65x |
| Retail Individual Investor | 1.14x |
| Total | 1.14x |
About Asston Pharmaceuticals
Founded in
2019
Managing director
Dr Ashish Narayan Sakalkar
Parent organisation
Asston Pharmaceuticals Ltd
Strengths & Financials of Asston Pharmaceuticals
Strengths
Risks
Asston Pharmaceuticals claims to have developed strong in-house capabilities in formulations development across a diverse range of therapeutic categories. The company further claims to have a dedicated QA/QC facility that enhances its formulations.
The company claims to offer a portfolio of over 100 registered trademarks, including generic drugs, pediatric formulations, anti-tuberculosis treatments, and eye drops.
The company currently works with four World Health Organisation - Good Manufacturing Practices (WHO-GMP) certified contract manufacturers and claims to have built strong working relationships with them.
Asston Pharmaceuticals claims to have established long-lasting relationships with approximately 10 pharmacies across regulated and semi-regulated markets such as West Africa and South Africa.
The company claims to maintain competitive pricing in its target markets through its formulations expertise and outsourced manufacturing model.
Asston Pharmaceuticals claims to operate on an asset-light model by entirely outsourcing its manufacturing, thereby avoiding the need for high capital expenditure, maintenance costs, and compliance-related liabilities.
The company is FDA certified by both the central and state FDA, accredited by Nuclear Quality Assurance (NQA), and complies with the quality management system (QMS) standards.
The company has experienced a consistent increase in total income and profit after tax (PAT). Income rose from 6.54 crore in FY23 to Rs 15.59 crore in FY24 to Rs 25.04 crore in FY25. PAT increased from Rs 1.06 crore in FY23 to Rs 1.36 crore in FY24 to Rs 4.32 crore in FY25.
The top five customers of Asston Pharmaceuticals contributed Rs 17.82 crore (71.18 percent) to the company’s total revenue in FY25, Rs 12.12 crore (77.57 percent) in FY24, and Rs 6.54 crore (100 percent) in FY23. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients can adversely affect the company’s business and financial standing.
Asston Pharmaceuticals’ registered office, company-owned facilities, and contract manufacturers are all located in Maharashtra. Any disruption in the business environment of this state could significantly disrupt the company’s operations.
The top 10 suppliers contributed Rs 5.44 crore (61.61 percent) to the total cost of raw materials purchased in the period ended November 30, 2024, Rs 4.37 crore (52.70 percent) in FY24, and Rs 2.75 crore (74.22 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
A substantial portion of the company’s revenue comes from export sales, especially to Sierra Leone. It contributed Rs 17.02 crore (67.96 percent) to the company’s total sales in the period ended November 30, 2024, Rs 9.85 crore (63.03 percent) in FY24, and Rs 5.24 crore (80.21 percent) in FY23. Any loss of these clients or adverse economic, regulatory, or political changes in this region could negatively impact the company’s business.
The company reported negative cash flow from operating activities, amounting to Rs 0.16 crore in FY25, Rs 3.80 crore in FY24, and Rs 0.31 crore in FY23. In investing activities, it saw a negative cash flow of Rs 0.91 crore in FY23. If cash outflows continue to exceed inflows in the future, the company may face liquidity challenges.
Asston Pharmaceuticals is dependent on third-party suppliers for raw materials and primarily procures them from the spot market without long-term supply contracts. For FY25, FY24, and FY23, the cost of materials consumed amounted to Rs 14.14 crore (56.49%), Rs 9.75 crore (62.58%), Rs 3.35 crore (51.23 percent) of revenue from operations, respectively. Any heavy fluctuations in the prices of these raw materials or their unavailability could adversely affect the company’s cash flows and business operations.
As of November 30, 2024, Asston Pharmaceuticals had outstanding financial indebtedness of Rs 7.83 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.
Asston Pharmaceuticals Financials
*All values are in Rs. Cr
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Application Details of Asston Pharmaceuticals IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹115 - 123 | ₹2 - 5 Lakh |
| High Networth Individual | ₹115 - 123 | ₹2 - 5 Lakh |
For Asston Pharmaceuticals IPO, eligible investors can apply as Regular.