Astonea Labs Ltd plans to raise up to Rs. 37.67 crore from Public Issue; IPO opens on May 27

Highlights:-

• Fresh Public issue of Rs. 37.67 crore opens for subscription from May 27 to May 29
• Minimum lot size for application is 1000 shares; Minimum IPO application amount at the higher side of this issue is Rs. 1.35 lakh
• Funds raised through the issue will be used for Expenses, Business & Capacity Expansion, Advertising & Marketing, Investment in procuring hardware and software and Funding Capital Expenditure
• For FY23-24 company reported revenue of Rs. 80.29 crore and Net Profit of Rs. 3.81 crore
• As on 31 March 2024, ROE at 37.86%, ROCE at 22.95% and RoNW at 31.83%.
• Oneview Corporate Advisors Private Limited is the lead manager of the issue.

The initial public offering of Rs. 37.67 crore comprises of a fresh issue of 27.90 lakh equity shares of face value Rs. 10 each with a price band of Rs. 128 to Rs. 135 per share. Out of the fresh issue of Rs. 37.67 crore, company plans to utilize Rs. 1.29 crore towards funding of expenses proposed to be incurred towards registration in Bolivia, South America while Rs. 5.2 crore will be used towards purchase and installation of plant and machineries for ointment production for the purpose of export in accordance with the international standards and protocols. Company also plans to utilize Rs 4.95 crore for advertising, marketing and brand building, Rs. 68 lakh for investment in procuring hardware and software and Rs. 19.75 crore for working capital requirements. Minimum lot size for the application is 1000 shares which translates in to minimum investment of Rs. 1.35 lakh per application on higher side of issue. The retail quota is 35%, QIB is 50%, and HNI is 15%.

Incorporated in 2017, Astonea Labs Ltd. is engaged in contract manufacturing of pharmaceutical and cosmetic products for companies both within India and internationally. The company manufactures and markets a variety of pharmaceutical and cosmetic products, including antibiotics, anti-cold medicines, antihistamines, and treatments for diabetes, heart, gynecological issues, infections, and more.

The company offers skin, tooth, and hair care products in forms like gels, creams, and serums, and also trades packaging and raw materials for pharmaceutical and cosmetic industries, meeting industry standards. The company engages in contract manufacturing of pharmaceutical and cosmetic products, markets its own brands “Glow Up” and “Regero,” plans to launch “Avicel,” and exports to countries like Iraq and Yemen.

For FY23-24 ended March 2024, the company reported revenue of ₹80.29 crores in 2024 against ₹67.26 crore in 2023. The company reported profit of ₹3.81 crores in 2024 against profit of ₹0.67 crores in 2023, with a healthy EBITA margin of 14.60% and PAT margin of 4.75%. For the nine months ended December 2024, company reported total revenue of Rs. 69.55 crore and Net Profit of Rs. 4.10 crore. As on 31st March 2024, ROE of the company was at 37.86%, ROCE at 22.95% and RONW at 31.83%.

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