&w=3840&q=100)
Asston Pharmaceuticals disappoints with market debut, lists at 3% discount
The Asston Pharmaceuticals IPO fell short of grey market expectations. Prior to the debut, its unlisted shares were trading at around ₹149 in the grey market, indicating a grey market premium (GMP) of ₹26 or approximately 21.14 per cent over the issue price, according to sources tracking unofficial market activity.
Asston Pharmaceuticals IPO details
The Asston Pharmaceuticals IPO comprised an entirely fresh issue of 2.24 million equity shares aggregating to ₹27.56 crore. The public offering was available for subscription from Wednesday, July 9, to Friday, July 11, at a price band of ₹115-123 per share, with a lot size of 1,000 shares.
The public issue received overwhelming demand from investors, getting oversubscribed by 173.53 times by the end of the subscription period, as per BSE data. The basis of allotment for Asston Pharmaceuticals IPO shares was finalised on Monday, July 14. The company has fixed the issue price at ₹123 per share.
Asston Pharmaceuticals will utilise the proceeds from its public issue to fund capital expenditure requirements, specifically for acquiring machinery for its manufacturing unit. A portion of the funds will also be allocated towards meeting the company's incremental working capital needs. Additionally, the proceeds will be used for the repayment and/or prepayment, either in part or in full, of certain outstanding borrowings. The remaining funds will be directed towards general corporate purposes.
About Asston Pharmaceuticals
Asston Pharmaceuticals specialises in exporting pharmaceuticals globally. The company offers a diverse range of products, including tablets, capsules, and syrups, across various therapeutic categories. Asston Pharmaceuticals is FDA-certified and complies with Quality Management System standards. The company's product portfolio includes medications for pain relief, infections, and vitamin deficiencies.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
4 hours ago
- Business Standard
Sukhmal's Revenumf.com Debuts: Basket Based Mutual Fund Investing Offers Access and Ease for Retail and NRI Investors
VMPL New Delhi [India], July 23: India's mutual fund ecosystem witnessed a promising transformation this week with the official debut of the latest fintech offering from Sukhmal Mutual Fund Distributors Pvt Ltd. This new age digital platform is set to make mutual fund investing hassle free for a wider audience, combining the trust of a seasoned industry player with the convenience today's investors demand. By introducing a basket based investment approach, eliminates the confusion typically faced by investors sifting through hundreds of schemes. Instead, users can now choose from carefully curated baskets of mutual funds focused on specific goals such as wealth creation, tax saving, emergency planning, or retirement, all crafted by expert financial minds. What really sets apart, say industry observers, is its inclusive digital onboarding. Not only does it cater to individual investors across India, but also extends its seamless experience to non individual entities like private limited companies, partnership firms, and proprietorships. The platform's NRI onboarding, in particular, is getting attention for removing traditional bottlenecks: non-resident Indians can now complete their KYC and start investing in Indian mutual funds digitally in less than 10 minutes, a rare feat in the current ecosystem. Beyond accessibility, offers expert-curated mutual fund baskets with active rebalancing, free for users, with no advisory fees or charges. Available on both Android and iOS, the platform offers both SIP and lump sum investment options, wrapped in a simple, guided interface suitable for both first-timers and seasoned investors. "We built to solve the chaos around mutual fund selection" said a company spokesperson. "Rather than picking one fund at a time, investors can now invest in expert curated baskets designed for long term growth, all with a few clicks." Market experts are calling the launch "a double win" for both investors and the company. Investors benefit from the confidence and clarity that curated baskets and a transparent process provide, while Sukhmal expands its reach to under served segments such as NRIs and business entities, opening up fresh avenues for growth. With long standing reputation for ethics and transparency, Sukhmal Mutual Fund Distributors Pvt Ltd aims to make wealth creation simpler and truly inclusive for Indians everywhere. With the company is setting a new benchmark in digital mutual fund investing, giving investors at home and abroad the right tools to grow their money with confidence. About Sukhmal Mutual Fund Distributors Pvt Ltd: Sukhmal Mutual Fund Distributors Pvt Ltd is an AMFI registered mutual fund distributor and a BSE registered mutual fund broker (BSE member code: 63691), dedicated to promoting transparent and ethical investing through technology-driven solutions. With decades of industry experience, the firm caters to a diverse investor base both in India and overseas, maintaining a strong focus on simplicity, customer trust, and sustainable long-term growth. Disclaimer: Mutual fund investments are subject to market risks. Please read all scheme-related documents carefully before investing.
Time of India
6 hours ago
- Time of India
Bajaj Housing Finance's net profit up 20.86% in Q1 FY26
NEW DELHI: Bajaj Housing Finance has reported a growth of 20.86 per cent in its net consolidated profit in the first quarter of the financial year 2025-26. The company's profit after tax stood at ₹583.30 crore in Q1 FY26 as against ₹482.61 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ₹2,618.45 crore in Q1 FY26, a growth of 18.55 per cent from ₹2,208.73 crore it recorded in the similar quarter last year. As of June 30, 2025, the company's net worth stood at ₹20,508.37 crore, debt-equity ratio was 4.31, total debts to total assets was 0.81, gross non-performing assets (NPA) was 0.30%, net NPA was 0.13%, capital to risk-weighted assets ratio was 26.94% and liquidity coverage ratio was 210.57%. The company's assets under management (AUM) grew by 24 per cent to ₹1.20,420 crore as of 30 June 2025 from ₹97,071 crore as of 30 June 2024. Loan losses and provisions for Q1 FY26 was ₹41 crore as against ₹10 crore in Q1 FY25. Provisioning coverage ratio on stage 3 assets at 56%.
&w=3840&q=100)
Business Standard
6 hours ago
- Business Standard
Discovery Global Management exits SpiceJet, sells 2.2% stake for ₹119 crore
Global macro hedge fund Discovery Capital Management on Wednesday exited SpiceJet by selling its entire 2.2 per cent stake in the domestic carrier for₹ 119 crore through an open market transaction. The US-based Discovery Capital Management through its affiliate Discovery Global Opportunity (Mauritius) Ltd offloaded 3,11,53,621 shares, representing a 2.20 per cent stake in Gurugam-based SpiceJet, as per the bulk deal data on the BSE. The transaction was executed at an average price of ₹38.14 apiece, taking the total deal value to ₹118.82 crore. Meanwhile, Plutus Wealth Management bought 2.45 crore shares or 1.73 per cent stake in SpiceJet for ₹93.39 crore. The shares were picked up at an average price of ₹38.12 apiece. Following the stake buy, Plutus Wealth Management's holding in SpiceJet rose to 4.44 per cent from 2.71 per cent. Details of other buyers of SpiceJet shares could not be ascertained on the bourse. SpiceJet rose 5.75 per cent to close at ₹40.29 apiece on the BSE. On Wednesday, the Supreme Court dismissed a plea of KAL Airways and Kalanithi Maran seeking damages of over ₹1,300 crore from SpiceJet in a long-standing share transfer dispute. A bench of Justices P S Narasimha and A S Chandurkar upheld the Delhi High Court's order of May 23 dismissing their plea on grounds of delay. KAL Airways and Kalanithi Maran had initially sought damages of over ₹1,300 crore during the arbitration proceedings. Maran and KAL Airways were former promoters of SpiceJet.
