Navi Mumbai-based pharmaceutical and nutraceutical products maker Asston Pharmaceuticals is set to launch its initial public offering next week on July 9, with price band of Rs 115-123 per share.
The public issue will close on July 11, followed by the IPO share allotment finalisation scheduled on July 14. Asston shares will be available for trading on the BSE SME effective July 16.
The Rs 27.56-crore IPO comprises of solely fresh issue of 22.41 lakh shares. This means the company will receive entire IPO proceeds.
Incorporated in 2019, Asston Pharmaceuticals plans to spend Rs 6 crore out of IPO proceeds for acquiring machinery in the manufacturing unit, and Rs 13 crore for working capital requirements. Further, it will repay debt amounted to Rs 1 crore through fresh issue money, and the remainder funds will be used for general corporate purposes.
The outstanding loan on its books was Rs 7.8 crore as of May 2025.
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Currently, the company has its production facility at Ambernath, Maharashtra, for producing generic and nutraceutical medicines. Further, it held over 150 registered trademarks for its pharmaceutical formulations.
The merchant banker handling the Asston Pharmaceuticals IPO will be Sobhagya Capital Options.
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