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

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

PNN
New Delhi [India], May 26: Haryana based pharmaceutical and cosmetic products manufacturer, Astonea Labs Ltd is planning to raise Rs. 37.67 crore from its SME public issue. The company has received approval to launch its public issue on BSE SME Platform. The public issue open for subscription on May 27 and closes on May 29. Oneview Corporate Advisors Private Limited is the lead manager of the issue.
Company plans to issue 27.90 lakh Equity shares of Rs. 10 face value at a price band of Rs. 128- Rs. 135 per share; Shares to list on BSE SME
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 Rs80.29 crores in 2024 against Rs67.26 crore in 2023. The company reported profit of Rs3.81 crores in 2024 against profit of Rs0.67 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%.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Air India releases Rs 25 lakh interim compensation to more families of crash victims
Air India releases Rs 25 lakh interim compensation to more families of crash victims

India.com

time26 minutes ago

  • India.com

Air India releases Rs 25 lakh interim compensation to more families of crash victims

New Delhi: Air India said on Saturday that so far, its has released the interim compensation of Rs 25 lakh to the families of 147 of the 229 deceased passengers, and also the 19 persons who lost their lives at the accident site of the AI 171 plane crash in Ahmedabad. In addition, the requisite documents of 52 others have been verified, to whose families the interim compensation will be released progressively, the Tata Group-owned airline said in a statement. Over a month ago, Air India started releasing interim payment of Rs 25 lakh to the affected families, to help them meet their immediate financial needs. 'Air India stands in solidarity with the families and those affected by the AI 171 accident. We continue to mourn their loss and remain fully committed to providing support during this difficult time,' said the airline. To provide further support, the Tata Group has also registered 'The AI 171 Memorial and Welfare Trust.' The Trust has promised to restore the infrastructure of the B.J. Medical College Hostel, which was damaged in the accident, and to provide an ex gratia payment of Rs 1 crore for each of the deceased. The Trust will also provide aid and assistance for alleviation of any trauma or distress suffered by the first responders, medical and disaster relief professionals, social workers, and governmental staff who provided invaluable institutional support and service in the aftermath of the accident, as per the statement. Last month, an Air-India flight from Ahmedabad to London crashed shortly after take-off, killing 241 on board and 19 on the ground. A preliminary report by the Air Accidents Investigation Bureau (AAIB) revealed that the aircraft's engines had shut down just seconds after take-off due to fuel supply being cut off. However, a full report is yet to be announced.

AI-driven UP a tech model in many spheres
AI-driven UP a tech model in many spheres

Time of India

time40 minutes ago

  • Time of India

AI-driven UP a tech model in many spheres

Lucknow: Uttar Pradesh is fast emerging as a leader in shaping the country's future through Artificial Intelligence. The state govt has integrated AI into governance, education, agriculture, security, and healthcare, creating new benchmarks in public welfare. From initiatives like 'AI Pragya' to 'UP Agris' and plans to develop Lucknow as an AI City, UP is building a robust digital economy focused on transparency, productivity, and efficiency in citizen services. Aligning with Govt of India's Vision 2047, the state's AI policy and skill development programmes highlight that UP is not just a consumer of technology but an emerging hub of innovation. AI is fast becoming the backbone of governance and development in Uttar Pradesh. By integrating AI into youth-centric policies, agriculture, education, and public services, the state is fostering a future-ready, tech-savvy population. The state government is working on a draft AI policy in line with Vision 2047. Through AI bootcamps, officials from 30 departments have been trained to use AI effectively in government processes. To make the Direct Benefit Transfer (DBT) system more accurate and transparent, AI-based fraud detection and data analytics have also been introduced in some areas. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like TV providers are furious: this gadget gives you access to all channels Techno Mag Learn More Undo Under the IndiaAI Mission, a massive AI ecosystem worth Rs 10,732 crore is being developed in Lucknow. This investment is 67% higher than any other technology infrastructure in the country. Additionally, an AI-based traffic management system is being proposed for Lucknow, while Varanasi is already in the process of implementing an AI-enabled smart traffic system. Under AI Pragya, more than 10 lakh youths, teachers, gram pradhans, government employees, and farmers are being trained in AI, machine learning, data analytics, and cybersecurity in partnership with tech giants like Microsoft, Intel, Google, and Guvi. In 17 municipal corporations and Gautam Budh Nagar, AI-powered systems such as CCTV surveillance, facial recognition, number plate tracking, and SOS alert systems have been implemented. These are directly integrated with 112 helpline and police control rooms. Under UP Agris Project, launched with World Bank support and an investment of Rs 4,000 crore, 10 lakh farmers are being connected to AI-based technologies. In Revenue Department, satellite imaging and AI algorithms are being used for land consolidation and record management. In healthcare, the country's first AI-based breast cancer screening center has been established in Fatehpur. tnn

Return filing season likely to be longer due to structural changes in capital gains tax
Return filing season likely to be longer due to structural changes in capital gains tax

Time of India

timean hour ago

  • Time of India

Return filing season likely to be longer due to structural changes in capital gains tax

Pune: Tax experts and chartered accountants are expecting a prolonged tax season for the fiscal year 2024-25 (Assessment year 2025-26) because of several structural and technical modifications to the short-term and long-term capital tax. Many income tax return forms were uploaded late and hence it is likely to extend the filing process for chartered accountants and taxpayers. The income tax department has extended the deadline for filing returns to Sept 15 from July 31 for FY 2024-25 to account for the complexity. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune "The return filing may extend till the festive season, followed by the GST filing deadline of Dec 31. This is expected to be a busy tax season," said Sukrut Deo, a chartered accountant. Tax experts said the calculation of short-term capital gains tax (STCG) and long-term capital gains (LTCG) tax is impacted after structural changes that came into effect on July 23, 2024. As per the new rules, the rate of STCG incurred before July 23, 2024, would be 15%, while investments redeemed after the date would attract a tax rate of 20%. Similarly, LTCG on mutual fund and stock investments before July 23, 2024, would be 10%, while after the date, it would be 12.5%. Long-term gains on property will now be taxed at 12.5% without indexation or at 20% with indexation benefits, depending on the option chosen by the taxpayer. The benefit of indexation, which was previously included in long-term capital gains tax computation, will no longer be available for gains arising after July 23, 2024. The forms now demand that capital gains be split into two periods, before and after July 23, 2024, with different tax calculations and reporting formats, said Saee Sumant, chartered accountant and assistant professor at MIT-WPU. Over the past three to four years, the work of tax professionals has increased significantly, as major taxpayers are investing in mutual funds and stocks. It is an extremely time-consuming process with the amount of filing involved with LTCG and STCG to be done, said Pravesh Advani, a chartered accountant. To assist taxpayers in accurately filing their taxes, the department has released revised tools and validation guidelines. In order to detect 'Category-D' faults, which could result in disallowances, and 'Category-A' defects, which prohibit return upload, these new validation rules are essential, a tax consultant said. The department uploaded the form 'ITR-2' earlier this week, significantly late than usual upload period of May. In addition, 'ITR-3' was also not uploaded properly, experts said. Form 'ITR-1' is for salaried individuals with earnings within Rs 50 lakh, 'ITR-2' for capital gains, 'ITR-3' for business income, 'ITR-4' for small business and professions, 'ITR-5' and 'ITR-6' for companies, and 'ITR-7' is for charitable trusts. For the last fiscal year, i.e. 2023-24 (AY 2024-25), 7.28 crore returns were filed. Of these, 45.77% are 'ITR-1' (3.34 crore), 14.93% are 'ITR-2' (1.09 crore), 12.50% are 'ITR-3' (91.10 lakh), 25.77% are 'ITR-4' (1.88 crore), and 1.03% are 'ITR-5' to 'ITR-7' (7.48 lakh), as per govt data released earlier.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store