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Astonea Labs IPO
Astonea Labs Ltd
₹1,28,000 /1000 sharesMinimum Investment
Astonea Labs IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹135.00 | ₹137.45 | ₹2.45 (1.81%) |
Astonea Labs IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 27 May ‘25 - 29 May ‘25 | ₹1,28,000 | 1,000 | ₹128 - ₹135 |
| Issue Size | IPO Doc |
|---|---|
| 37.67Cr | RHP PDF |
Subscription rate
As of 29 May'25, 04:00 PM
| Qualified Institutional Buyers | 1.75x |
| Non-Institutional Investor | 4.52x |
| Retail Individual Investor | 1.36x |
| Total | 1.43x |
About Astonea Labs
Founded in
2017
Managing director
Mr. Ashish Gulati
Parent organisation
Astonea Labs Ltd
Strengths & Financials of Astonea Labs
Strengths
Risks
Astonea Labs claims to follow a scalable, customer-centric and order-driven business model that focuses on optimising existing resources.
The company claims to offer a broad range of pharmaceutical and cosmetic products, including treatments for diabetes, cardiovascular issues, gynaecological concerns, fungal infections, and more. This portfolio spans multiple dosage forms, such as tablets, capsules, creams, gels, and serums.
The company claims to have stringent systems in place to ensure timely delivery with minimal product rejection.
The company is ISO 9001:2015 certified for quality management systems, ISO 22000:2018 certified for food safety management systems, ISO 22716:2007 certified for good manufacturing practices and holds a halal certificate.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 30.06 crore in FY22 to Rs 67.05 crore in FY23 to Rs 80.19 crore in FY24, while PAT increased from Rs 0.25 crore in FY22 to Rs 0.66 crore in FY23 to Rs 3.81 crore in FY24.
Astonea Labs has not fulfiled its annual obligation under the US Food and Drug Administration (FDA) over-the-counter (OTC) monograph user fee programme. Due to this, all OTC monograph drugs manufactured by the company are currently classified as misbranded under Section 502(ff) of the FD&C Act, preventing legal distribution in the US market. Until compliance is restored, the company remains listed in the FDA’s arrears list, which could negatively impact its reputation and delay international sales.
A significant portion of the company’s purchases of raw materials comes from its top 10 suppliers. They accounted for Rs 16.33 crore (33.90 percent) of the company’s total purchases in the period ended December 31, 2024, Rs 22.88 crore (35.48 percent) in FY24, Rs 25.00 crore (41.96 percent) in FY23, and Rs 13.21 crore (55.73 percent) in FY22. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company, promoters, and directors are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
A significant portion of the company’s revenue is derived from pharmaceutical sales. It accounted for Rs 53.23 crore (76.53 percent) of the company’s total revenue during the period ended December 31, 2024, Rs 63.94 crore (79.74 percent) in FY24, Rs 49.76 crore (74.21 percent) in FY23, and Rs 23.93 crore (79.63 percent) in FY22. A slowdown in pharmaceutical demand or regulatory changes may impact the company’s performance.
The company recorded negative cash flows from operating activities amounting to Rs 1.05 crore and Rs 4.93 crore in FY23 and FY22, respectively. It also recorded negative cash flows from investing activities amounting to Rs 8.46 crore, Rs 7.18 crore, Rs 3.08 crore and Rs 3.31 crore as of the period ended December 31, 2024, FY24, FY23, and FY22, respectively. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
A significant portion of the company’s revenue comes from contract manufacturing, where they provide manufacturing services to third-party clients. It accounted for Rs 62.82 crore (90.31 percent) of the company’s total revenue during the period ended December 31, 2024, Rs 76.78 crore (95.75 percent) in FY24, Rs 67.05 crore (100 percent) in FY23, and Rs 30.06 crore (100 percent) in FY22. Any adverse factors affecting the outsourcing of manufacturing by the company’s customers could harm its business operations.
A significant portion of the company’s revenue comes from its top 10 customers. As of December 31, 2024, they contributed Rs 28.50 crore (40.98 percent) to the company’s total revenue, Rs 41.59 crore (51.86 percent) in FY24, Rs 49.98 crore (74.55 percent) in FY23, and Rs 18.04 crore (60.02 percent) in FY22. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients could adversely affect the company’s business and financial standing.
As of December 31, 2024, Astonea Labs had an outstanding financial indebtedness of Rs 43.86 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.
Astonea Labs Financials
*All values are in Rs. Cr
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Application Details of Astonea Labs IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹128 - 135 | ₹2 - 5 Lakh |
| High Networth Individual | ₹128 - 135 | ₹2 - 5 Lakh |
For Astonea Labs IPO, eligible investors can apply as Regular.