The initial public offering (IPO) of Astron Multigrain, which opened for subscription on Monday, continued to witness a
tepid response as it was subscribed 0.91 times at the end of Day 02, with 25.10 lakh shares bid for against the 27.72
The retail portion was subscribed 1.53 times, while the non-institutional investor segment was booked at 0.28 times.
Astron Multigrain Issue Details
The ₹18.40 crore issue comprises a combination of a fresh issue of 0.23 crore shares aggregating to ₹14.74 crores and an
offer for sale of 0.06 crore shares aggregating to ₹3.65 crores.
The price band has been fixed at ₹63 per share, while the lot size is set at 4,000 shares, requiring a minimum
investment of ₹252,000 for retail investors. The SME IPO is proposed to list on the BSE SME platform, tentatively on
The company plans to utilize the proceeds from the issue for purchasing new machinery, meeting working capital
requirements, and for general corporate purposes.
In other issue details, the Astron Multigrain IPO allotment of shares is expected to be finalized on Thursday, December
04. The company will initiate refunds on Friday, December 05, and the shares will be credited to the demat accounts of
allottees on the same day following refunds.
Finaax Capital Advisors Private Limited is the book-running lead manager, and Bigshare Services Pvt. Ltd. is the
registrar of the issue. The market maker of the company is Prabhat Financial Services Ltd.
Meanwhile, as per market sources, the grey market premium (GMP) for Astron Multigrain is nil, indicating that the stock
might debut on the exchanges similar to its IPO or at a discount price.
Established in 2018, the company is into the manufacturing of instant noodles. It manufactures noodles on a contract
manufacturing basis for Gokul Snacks Private Limited, which sells the products manufactured by the company under its
trade name. It also manufactures noodles for its own brand sales, which are sold under the trade name ‘Astron’s Swagy
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Disclaimer: We advise investors to check with certified experts before making any investment decisions.