IPO Details

Bidding Dates

09 Jul '25 - 11 Jul '25

Minimum Investment

₹2,46,000 / 2 Lots (2000 Shares)

Price Range

₹115 – ₹123

Maximum Investment

₹2,46,000 / 2 Lots (2000 Shares)

Retail Discount

To be announced

Issue Size

₹27.56 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-Institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |  

Asston Pharmaceuticals IPO Important Dates

Important dates with respect to IPO allotment and listing

Opening Date

Jul 09, 25

Closing Date

Jul 11, 25

Basis of Allotment

Jul 14, 25

Initiation of Refunds

Jul 15, 25

IPO Listing Date

Jul 16, 25

IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Jul 8, 2025

 0.00 0.23 0.44 0.27

About Asston Pharmaceuticals IPO

Asston Pharmaceuticals IPO is a book-built issue worth ₹27.56 crore. The IPO consists entirely of a fresh issue of 22.41 lakh equity shares. The IPO opens for subscription on July 9, 2025, and closes on July 11, 2025. The allotment is expected to be finalised on July 14, 2025, with tentative listing on BSE SME scheduled for July 16, 2025.

The IPO is priced in a band of ₹115 – ₹123 per share. Retail investors must apply for a minimum of 2 lots comprising 2,000 shares, requiring an investment of ₹2,46,000 at the upper end of the price band. HNI investors must apply for a minimum of 3 lots (3,000 shares), amounting to ₹3,69,000.

Sobhagya Capital Options Ltd is the book-running lead manager to the issue, and Maashitla Securities Private Limited is the registrar.

For detailed information on company financials, business operations, and associated risks, investors are advised to refer to the Asston Pharmaceuticals IPO RHP.

Industry Outlook

  1. India’s electricity infrastructure is undergoing a transformative shift, driven by the government’s ambitious push towards smart metering and grid modernisation. This evolution is central to enhancing energy efficiency, reducing transmission losses, and improving billing transparency across the power distribution network.
  2. The National Smart Grid Mission (NSGM) and the Revamped Distribution Sector Scheme (RDSS) are pivotal government initiatives aimed at deploying 250 million smart meters by 2027. As of January 2024, only 3.02 million smart meters had been installed, indicating substantial headroom for growth. These programmes are not only modernising the grid but also fostering a robust ecosystem involving manufacturers, system integrators, and service providers.
  3. The competitive landscape is dynamic, with global giants such as Siemens, Schneider Electric, and L&T dominating the high-value transmission and distribution segments. Simultaneously, domestic players like Genus Power and HPL Electric are gaining traction in the smart meter manufacturing space, leveraging the “Make in India” initiative to offer cost-effective solutions. This has led to a fragmented yet vibrant market where cost competitiveness, technological innovation, and strategic partnerships are key differentiators.
  4. System integrators and technology providers play a crucial role in ensuring seamless deployment and integration of smart metering infrastructure. Their ability to manage complex networks and deliver reliable data analytics is becoming increasingly vital.

Asston Pharmaceuticals IPO Objectives

The company proposes to utilise the net proceeds from the IPO for the following objectives:

  1. Expand manufacturing infrastructure by establishing new production facilities for its Nutraceutical and Veterinary Food divisions in Palghar, Maharashtra. This includes the acquisition of land, construction of factory premises, and installation of advanced machinery to enhance production capacity and support the company’s growing product portfolio.
  2. Strengthen its Homecare and Cosmetic division through the purchase of specialised equipment, enabling the company to diversify its offerings and improve operational efficiency across multiple product categories.
  3. Support general corporate purposes, including administrative overheads, brand development, and strategic initiatives aimed at reinforcing the company’s market presence and long-term sustainability.
  4. Enhance corporate visibility and governance standards through public listing on NSE Emerge, thereby fostering investor confidence, improving access to capital markets, and facilitating future growth opportunities through strategic partnerships and collaborations.

About Asston Pharmaceuticals Limited

Asston Pharmaceuticals Limited was originally incorporated as Asston Pharmaceuticals Private Limited on 18 September 2002 under the Companies Act, 1956. It was subsequently converted into a public limited company and renamed Asston Pharmaceuticals Limited on 19 June 2024.

The company is engaged in the manufacturing of electronic energy meters and power conditioning devices, including high-grade chargers and uninterruptible power supply (UPS) systems. Its products cater to a wide range of institutional, industrial, and utility customers across India.

With a strong emphasis on quality and performance, Eppeltone operates a dedicated manufacturing facility in Greater Noida, Uttar Pradesh. The company has developed a reputation for delivering high-precision, reliable metering solutions, and has secured approvals from over 30 state electricity distribution companies (DISCOMs) and several central public sector undertakings.

Eppeltone’s operations are primarily focused within India, with a significant presence in states such as Gujarat, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, and Delhi. The company’s growth strategy is underpinned by its commitment to technological advancement, operational excellence, and customer satisfaction.

By leveraging its established industry credentials and expanding production capabilities, Asston Pharmaceuticals Limited aims to strengthen its position in the smart metering and power electronics sector, capitalising on the growing demand for energy efficiency and digital infrastructure in India’s power distribution landscape.

How To Check the Allotment Status of the Asston Pharmaceuticals IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Asston Pharmaceuticals IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Asston Pharmaceuticals IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Know before investing

Strengths

8

  1. Offers a wide range of pharmaceutical and nutraceutical formulations including tablets, capsules, liquids, and topical preparations.

  2. Strong presence in African and Asian markets, with exports contributing over 85% of total revenue.

  3. Collaborates with certified manufacturers, ensuring adherence to international quality standards.

  4. Led by professionals with deep industry knowledge and strategic vision.

  5. Growing focus on expanding domestic sales, with recent increases in revenue from Indian states like Maharashtra and Gujarat.

  6. Active registration in Cambodia and plans to enter Laos, Vietnam, Zambia, and Nigeria.

  7. Planned machinery acquisition and working capital infusion to boost production and operational scale.

  8. BSE SME platform listing to improve investor confidence, governance standards, and access to future capital.

Risks

8

  1. Over 85% of revenue comes from exports, primarily to Sierra Leone, exposing the company to geopolitical and currency risks.

  2. Domestic sales remain modest, making the business vulnerable to international market fluctuations.

  3. Absence of long-term agreements with third-party manufacturers may disrupt supply continuity.

  4. Long receivable cycles and high upfront costs strain liquidity and may limit order capacity.

  5. Both office and factory are on lease; non-renewal could impact operations.

  6. Delays or lapses in statutory filings and approvals may attract penalties or operational restrictions.

  7. Any disruption at the Ambernath unit could severely affect production and revenue.

  8. Multiple changes in statutory auditors in recent years may raise governance concerns.

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Asston Pharmaceuticals IPO FAQs

What is the Asston Pharmaceuticals IPO?

Asston Pharmaceuticals IPO is a book-built issue IPO. It will be open from July 9, 2025, to July 11, 2025. 

When will the Asston Pharmaceuticals IPO be allotted?

The Basis of Allotment will happen on Monday, July 14, 2025.  

When will the Asston Pharmaceuticals IPO open for subscription?

The IPO subscription window will open on July 9, 2025. 

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 2 lot, and the lot size is 1000 shares. 

When will Asston Pharmaceuticals Limited list on exchanges?

The listing date for Asston Pharmaceuticals Limited is Wednesday, July 16, 2025. 

What is the issue size of the Asston Pharmaceuticals IPO?

The issue size of the Asston Pharmaceuticals IPO is up to ₹27.56 crores, consisting of a fresh issue of 22.41 lakh shares. 

What are the open and close dates of the Asston Pharmaceuticals IPO?

The open and close dates for Asston Pharmaceuticals IPO are from July 9, 2025, to July 11, 2025. 

What would be the listing gains on the Asston Pharmaceuticals IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.  

How to increase your chances of getting a Asston Pharmaceuticals IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for the Asston Pharmaceuticals IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate. 

Can I submit more than one application for the public issue of Asston Pharmaceuticals Limited using one PAN?

You can submit only one application using your PAN card. 

How to read Asston Pharmaceuticals Limited's financial statements?

To read Asston Pharmaceuticals ‘s financial statements, download the IPO’s RHP document. 

What is 'pre-apply' for Asston Pharmaceuticals Limited IPO?

Pre-apply allows investors to apply for the Asston Pharmaceuticals IPO two days before the subscription period opens, ensuring an early submission of your application. 

If I pre-apply for the Asston Pharmaceuticals Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours. 

When will I know if my Asston Pharmaceuticals Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.  

Who is the registrar of Asston Pharmaceuticals IPO?

Maashitla Securities Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries. 

Where is the Asston Pharmaceuticals IPO getting listed?

Asston Pharmaceuticals Limited IPO is proposed to be listed on the SME platform of the Bombay Stock Exchange (BSE).