IPO
Asston Pharmaceuticals' Rs.28-Cr SME IPO booked 32 times
The SME IPO of Navi Mumbai-based Asston Pharmaceuticals has been subscribed 32.13 times. The retail participants subscribed to the issue by 37.58 times, followed by the HNIs (high-net-worth individuals) at 51.40 times. The qualified institutional buyers (QIBs) subscribed to the issue 7.98 times.The IPO comprises entirely of fresh issue of equity shares worth INR 27.56 crores with the book-built issue priced in the range of INR 115-123 per share.The fresh proceeds will be used to fund capital expenditure for machinery acquisition (INR 6 cr), to meet incremental working capital requirements (INR 13 cr), and partially repay borrowings (INR 1 cr).Founded in 2019, Asston specialises in the formulation and export of a wide range of pharmaceutical products, including tablets, capsules, syrups, and sachets.
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