Here are the comprehensive details about Asston Pharmaceuticals Limited IPO:
IPO Timeline
- Opening Date: July 9, 2025
- Closing Date: July 11, 2025
- Basis of Allotment: Expected by July 14, 2025; refunds by July 15
- Initiation of Refunds: Jul 15, 2025
- Credit of Shares to Demat: Jul 15, 2025
- Listing Date: July 16, 2025 on BSE SME
IPO Details
- Face Value: ₹10 per share
- Price Band: ₹115 (11.5× face value) to ₹123 (12.3× face value) per share
- Minimum Lot: 1,000 shares → ₹115,000 to ₹123,000 per lot
- Fresh Issue: 2,241,000 equity shares (₹27.56 crore)
- Reserved for Market Maker: 113,000 shares (~5%)
- Net Public Issue: ~2,128,000 shares – ~25% of post-issue paid-up capital
- Issue Type: Bookbuilding IPO
- Listing At: BSE SME
- Share Holding Pre Issue: 62,71,360 shares
- Share Holding Post Issue: 85,12,360 shares
GMP of Asston Pharmaceuticals Limited IPO
As of now, there aren’t any credible or reported Grey Market Premium (GMP) values for Asston Pharmaceuticals Limited IPO.
Promoters of Asston Pharmaceuticals Limited
Here are the detailed profiles of the promoters of Asston Pharmaceuticals Limited for its upcoming IPO:
1. Dr. Ashish Narayan Sakalkar
- Role: Promoter & Managing Director
- Experience: Over 25 years in pharmaceutical industry
Involvement:
- Incorporated Asston in 2019
- Pre-IPO Shareholding: ~29.54%
- Post-IPO Shareholding: ~?% (reducing from total promoter pool expected ~50.66%)
2. Mrs. Saili Jayaram More
- Role: Promoter & Chief Executive Officer (CEO)
- Background: Co-founded company in 2019; brings 25+ years of pharma experience
- Pre-IPO Shareholding: ~29.54%
- Post-IPO Shareholding: Part of combined promoter restructured stake (~50.66%)
3. Mr. Sachin Chandrakant Badakh
- Role: Promoter & Director
- Background: Joined as promoter in 2024; long-standing pharma industry professional
- Pre-IPO Shareholding: ~9.68%
- Post-IPO Shareholding: Included within full promoter pool (~50.66%)
Professional Background & Expertise
- The founding team brings more than 25 years of experience each in pharmaceutical operations, export markets, and regulatory compliance.
- They set up the export-oriented manufacturing and regulatory framework, guiding its FDA-approved and WHO-GMP-compliant expansion.
Summary
- Dr. Sakalkar and Mrs. More together hold nearly 60% of pre-IPO equity, showcasing strong founder commitment.
- Mr. Badakh, as the third promoter, enhances the management team’s breadth.
- Post-IPO, they will retain a majority stake (~50.7%), indicating sustained promoter control.
Asston Pharmaceuticals Limited IPO Lot Size
Here are the key details for the lot size of the Asston Pharmaceuticals Limited IPO, summarized in a clear table:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,23,000 |
| Retail (Max) | 2 | 2,000 | ₹2,46,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,69,000 |
| S-HNI (Max) | 8 | 8,000 | ₹9,84,000 |
| B-HNI (Min) | 9 | 9,000 | ₹11,07,000 |
Additional Notes
- Retail investors are required to apply for at least 1 lot (1,000 shares).
- High-Net-Worth Individuals (HNIs) can apply for 2 or more lots (e.g., 2,000 shares = ₹246,000 at upper band) as noted by Financesaathi.
Asston Pharmaceuticals Limited IPO Promoter Holding
Here are the promoter shareholdings for Asston Pharmaceuticals Limited IPO:
| Promoter Name | Pre-IPO Holding (%) | Post-IPO Holding (%) |
|---|---|---|
| Dr. Ashish Narayan Sakalkar | 29.54 % | — |
| Mrs. Saili Jayaram More | 29.54 % | — |
| Mr. Sachin Chandrakant Badakh | 9.68 % | — |
| Total (All Promoters) | 68.76 % | 50.66 % |
- Pre-IPO total promoter holding stands at 68.76 %.
- Post-IPO total (combined promoters) will reduce to 50.66 % after the offering.
Insights
- Strong founder commitment: Dr. Sakalkar and Mrs. More each hold a significant 29.54%, showcasing dedication and control. Adding Mr. Badakh brings total promoter stake to nearly 69%.
- Retaining majority control: Even after the IPO, promoters will hold just over 50%, maintaining majority governance and decision-making power.
About Asston Pharmaceuticals Limited
Incorporation & Location
- Founded in April 2019 in Navi Mumbai, Maharashtra.
- Headquartered at Balaji Bhavan, Sector‑11, CBD Belapur, Navi Mumbai.
Business Activities
- Manufactures and markets pharmaceutical formulations—including tablets, capsules, syrups, sachets, and injections (LVP & SVP)—and nutraceuticals.
- Operates an export‑oriented model with regulatory approvals for markets in Africa and Asia.
Certifications & Capabilities
- Manufacturing facility established in 2022 in Mumbai; approved by DSIR/NQA, FDA, and WHO‑GMP compliant (per IPO sources).
Strategic Positioning
- Positioned with regulated-manufacturing capabilities and export presence across developing markets.
- Demonstrated strong financial growth, improved margins, rising NAV, and healthy ROE.
- Promoter group retains control (post-IPO ~50%), showing continued oversight.
- Uses IPO proceeds to fund future production capacity and reduce debt, supporting organic growth.
Asston Pharmaceuticals Limited Financial Information
Here are the detailed financials of Asston Pharmaceuticals Limited, based on their DRHP and restated 2023–2025 figures:
Financial Overview
| Period | May‑2025 | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue | ₹37.08 Crores | ₹25.03 Crores | ₹15.59 Crores | ₹6.54 Crores |
| EBITDA | ₹11.64 Crores | ₹6.71 Crores | ₹2.55 Crores | ₹1.52 Crores |
| PAT | ₹7.92 Crores | ₹4.32 Crores | ₹1.36 Crores | ₹1.06 Crores |
| Assets | ₹31.83 Crores | ₹28.12 Crores | ₹20.26 Crores | ₹13.69 Crores |
| Net Worth | ₹12.04 Crores | ₹10.71 Crores | ₹6.39 Crores | ₹1.99 Crores |
| Total Debt | ₹7.98 Crores | ₹7.25 Crores | ₹6.82 Crores | ₹5.25 Crores |
Key Performance Indicator (KPI)
Here are the Key Performance Indicators (KPIs) for Asston Pharmaceuticals Limited as per the IPO documents and financial disclosures:
| KPI | Values |
|---|---|
| ROE | 50.56% |
| ROCE | 51.25% |
| Debt/Equity | 0.68 |
| RoNW | 40.36% |
| PAT Margin | 17.27% |
| EBITDA Margin | 24.60% |
| Price to Book Value | 12.07 |
Summary Highlights
- Rapid growth in topline and bottom line across 2023 to 2025.
- EBITDA and PAT margins are expanding YoY, signaling improving operational efficiency.
- ROE and ROCE values are well above SME average, reflecting strong capital use.
- Debt levels are reducing year by year, strengthening balance sheet.
- EPS growth from ₹1.89 to ₹6.90 shows consistent profitability rise.
Strengths of Asston Pharmaceuticals Limited IPO
1) Strong Revenue & Profit Growth
- Revenue grew from ₹6.54 Cr (FY23) → ₹25.03 Cr (FY25) → ~₹37 Cr (annualised May 2025).
- PAT increased ~4x from FY23 to FY25 — showing a robust and scalable model.
2) High Return Ratios
- ROE: ~40.3% (FY25) — exceptional for SME pharma.
- ROCE: ~51.3% — indicates efficient capital deployment.
3) Export-Focused Business Model
- Exports to regulated & semi-regulated markets in Africa and Asia.
- Lower competition compared to saturated domestic markets.
4) WHO-GMP Certified Facility
- Manufacturing plant set up in 2022; certified by FDA, WHO-GMP, and DSIR/NQA — building trust for global supply.
5) Reasonable Valuation
- P/E ~13.2x (based on annualised earnings and ₹123 upper price) — relatively modest for SME pharma peers.
Risks of Asston Pharmaceuticals Limited IPO
1) SME Listing
- Listed on BSE SME platform, which has lower liquidity and less institutional interest than mainboard IPOs.
2) High Client Concentration
- Majority of revenues come from a few export clients — any disruption can significantly affect revenues.
3) Short Track Record
- Incorporated in 2019; only ~3 years of active operations — limited long-term financial history.
4) Regulatory Risk
- As an exporter to regulated markets, business is vulnerable to changes in drug laws, compliance norms, or international trade restrictions.
5) Currency & Geopolitical Risk
- Exports make it vulnerable to forex fluctuations and political instability in African/Asian client countries.
6) Debt Level (though reducing)
- D/E ratio: 0.68x (FY25); although improved from 2.64x in FY23, it still shows moderate leverage.
7) Small Scale of Operations
- Total revenue is still below ₹40 Cr — limits operational buffer and negotiation power.
Summary
| Strengths | Risks |
|---|---|
| Rapid revenue & PAT growth | SME platform → limited liquidity |
| High ROE/ROCE performance | Client concentration risk |
| WHO-GMP certified export-ready facility | Regulatory & geopolitical exposure |
| Experienced promoters retain majority stake | Short operational history |
| Export model to underserved pharma markets | Forex & raw material price volatility |
Asston Pharmaceuticals Limited Contact Details
Here are the official contact details for Asston Pharmaceuticals Limited, as provided on their website and IPO filings:
Registered & Corporate Office
Address:
4th Floor, Office No. A‑431, Balaji Bhavan
Plot No. 42A, Sector‑11, CBD Belapur
Navi Mumbai, Thane, Maharashtra – 400 614
Phone:
+91 22 49731419 / +91 22 49731411
Email:
info@asstonpharmaceuticals.com
Investor Relations / Compliance
- Email for Investors: investors.grv@asstonpharmaceuticals.com
- Compliance Email: compliance@asstonpharmaceuticals.com
Registrar & Transfer Agent
Maashitla Securities Private Limited
451, Krishna Apra Business Square
Netaji Subhash Place, Pitampura
New Delhi – 110034
Phone: +91 11 45121795 / 96
Email: ipo@maashitla.com
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