New Delhi, July 16 (H.S.): Asston Pharmaceuticals Limited faced a lackluster IPO performance, with shares listed at ₹119, down 3.25% from the IPO price of ₹123. Following initial selling pressure, shares fell to the lower circuit at ₹113.05 but later rebounded to ₹124.95 with increased buying, resulting in a 1.59% profit for IPO investors. The IPO, amounting to ₹27.56 crore, saw massive demand, with total subscription reaching 186.55 times, including 85.76 times for QIBs, 353.14 times for NIIs, and 172.06 times for retail investors. A total of 2,241,000 new shares with a face value of ₹10 were issued, with proceeds earmarked for new machinery, debt repayment, working capital, and corporate needs.

The company's financial outlook appears positive, showing improved health according to the prospectus. In FY 2022-23, Asston reported a net profit of ₹1.06 crore, projected to rise to ₹1.36 crore in FY 2023-24, and jump to ₹4.33 crore by FY 2024-25. Revenue is also expected to grow significantly, from ₹7.19 crore in 2022-23 to ₹25.61 crore by 2024-25. For the first two months of FY 2025-26, the company achieved a net profit of ₹1.32 crore on revenue of ₹6.21 crore.

Hindusthan Samachar / Jun Sarkar