BSE SME Asston Pharma's market entry misses the prescription for gains

The scrip was listed at Rs 119, a discount of 3.25% compared with the initial public offer (IPO) price. The stock is currently down 0.88% over its listing price.

The counter hit a high of Rs 120 and a low of Rs 113.05. About 6.18 lakh shares of the company changed hands at the counter.

Asston Pharmaceuticals' IPO was subscribed 173.53 times. The issue opened for bidding on 9 July 2025 and it closed on 11 July 2025. The price band of the IPO was set at Rs 115 to Rs 123 per share.

The IPO comprised fresh issue of 22,41,000 equity shares. The promoter and promoter group shareholding diluted to 50.66% from 68.76% pre-issue.

The company intends to utilize the net proceeds to fund capital expenditure requirements for acquiring machinery for the manufacturing unit, to finance the incremental working capital needs of the company, to repay and/or prepay, in part or in full, certain outstanding borrowings and for general corporate purposes.

Ahead of the Asston Pharmaceuticals on 8 July 2025, raised Rs 7.81 crore from anchor investors. The board has allotted 6.35 lakh shares at Rs 123 per share to 4 anchor investors.

Asston Pharmaceuticals manufactures and exports pharmaceutical formulations and nutraceutical products across India, as well as to several African and Asian markets. Its product range includes tablets, capsules, oral liquids, external preparations like ointments, creams, gels, and lotions, as well as oral powders such as sachets and dry syrups. Alongside its own branded products, the company also operates on a loan license and contract manufacturing basis for other marketers. As of now, Asston employs 46 permanent and 6 contractual staff across departments.

The company recorded revenue from operations of Rs 6.19 crore and net profit of Rs 1.32 crore for the period ended 31 May 2025.