&w=3840&q=100)
Retail investors drive demand for Asston Pharmaceuticals IPO; GMP at 24%
The demand was driven by retail investors, who subscribed to their reserved portion 7.93 times. The non-institutional investors (NIIs) category was subscribed 6.06 times, while the qualified institutional buyers (QIBs) portion was subscribed 3.51 times.
Asston Pharmaceuticals IPO GMP today
The unlisted shares of Asston Pharmaceuticals were commanding a decent premium in the grey markets on Thursday. Sources tracking unofficial market activities revealed that the company's shares were quoted trading at around ₹153 per share, reflecting a grey market premium (GMP) of ₹30 or 24.4 per cent over the upper end of the issue price of ₹123.
Asston Pharmaceuticals IPO details
The SME offering, valued at around ₹2.56 crore, comprises an entirely fresh issue of 2.24 million equity shares. It does not have any offer for sale (OFS) component. Asston Pharmaceuticals IPO is available at a price band of ₹115 to ₹123 per share, and a lot size of 1,000 shares. Thus, the investors can bid for a minimum of 1,000 shares and in multiples thereof. A retail investor would require a minimum of ₹2,46,000 to bid for two lots or 2,000 shares of Asston Pharmaceuticals IPO.
Asston Pharmaceuticals IPO timeline
The public offering will remain available for subscription till Friday, July 11. Following that, the basis of allotment is expected to get finalised on Monday, July 14, with shares getting credited into demat accounts by Tuesday, July 15.
Asston Pharmaceutical shares are slated to list on the BSE SME platform tentatively on Wednesday, July 16.
Asston Pharmaceuticals IPO registrar, lead manager
Maashitla Securities serves as the registrar for the issue of Asston Pharmaceuticals, while Sobhagya Capital Options acts as the sole book-running lead manager for the offering.
About Asston Pharmaceuticals
Asston Pharmaceuticals is engaged in the manufacturing and export of both pharmaceutical formulations and nutraceutical products in domestic and various African markets. The company manufactures tablets, capsules, oral liquid, external preparations, and oral powder, etc. The company also manufactures various pharmaceutical products for different marketers on loan license or on a contract manufacturing basis.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
4 hours ago
- India.com
These 10 countries do not take any tax from their citizens, reasons vary from..., check full list here
New Delhi: The main source of income of any country is tax. If we talk only about India, here income tax is levied according to the income of the people. That is, people who earn less have to pay less tax. The highest rate of income tax in the country is 39 percent. In many countries of the world, the tax rate is less than India while in many countries it is higher. There are some countries in the world where tax is not levied. In such a situation, the question arises that how will the economy of these countries run? Why is no income tax levied? The countries where tax is not levied include most of the Gulf countries. Apart from this, European and African countries are also included in this list. The special thing is that income tax is levied in big and powerful countries like America, France, Britain, Germany and China, then why is this exemption given in these countries. Let us tell you the special reason behind this UAE If we look at the countries with direct tax-free economy in the world, then the name of United Arab Emirates (UAE) comes first in it. No tax of any kind is taken from the public in the country. Instead, the government relies on indirect taxes such as VAT (Value Added Tax) and other charges. UAE Economy is very strong due to oil and tourism. For this reason, people in UAE have been given relief from income tax. Bahrain In the Gulf country Bahrain also, citizens do not have to pay any kind of tax. Here also there is no need to pay any kind of tax on earnings. In Bahrain, tax is not taken from the public by the government. Kuwait Kuwait is also included in the list of tax-free countries. There is no personal income tax here either. The country's economy is completely dependent on oil. Most of the oil is exported from here. Due to which the government does not have to take direct tax. Saudi Arabia Saudi Arabia has also kept its people completely free from the hassle of tax. Direct tax has been abolished in the country. Meaning that people in this country do not have to spend even a single part of their earnings as tax. However, the indirect tax system is also strong in this country. The money received from this gives a boost to the economy. It is also counted among the prosperous economies. The Bahamas The Bahamas, which is called a paradise for tourists, falls in the Western Hemisphere. The special thing about this country is that the citizens living here do not have to pay income tax. Brunei Brunei, which has oil reserves, is located in Southeast Asia. Here people do not have to pay any kind of income tax. Oman People do not have to pay income tax in Oman which has large reserves of oil and gas. Qatar Like Oman, Bahrain and Kuwait, Qatar is also in a similar situation. Qatar is also very strong in its oil sector. This country is undoubtedly small but the people living here are very rich. Income tax is not collected here either. Monaco In this European country, the government does not collect income tax from the people. Nauru Income tax is not collected from the people in the world's smallest island nation, Nauru.
India Today
8 hours ago
- India Today
Mahadev betting app case: Companies owned by Vikas Garg under ED scanner
The Directorate of Enforcement (ED), investigating the Mahadev Betting app money laundering case, uncovered earlier this year how the mastermind of the betting network, Harishankar Tibrewal through Foreign Portfolio Investment (FPI) had invested in several listed Small and Medium Enterprises (SME) purpose of doing so was to manipulate stocks, artificially inflate the stock prices of SME companies in which FPI investments were made. Once the share prices rose, they were dumped and Tibrewal and his accomplices would double or sometimes triple their per sources, the acquisition of Nasdaq-listed Ebix Incorpotated, last year, by an Indian firm, Eraaya Lifespaces, which is promoted by one Vikas Garg, is now under the radar of the anti-money laundering agency. The suspicion by the agency is regarding the funds raised for the acquisition of Ebix Inc. by Eraaya Lifespaces. Ebix Inc. was acquired by Eraaya Lifespaces last year through funds raised from multiple channels and officials, as per sources, also flagged the meteoric rise in the share prices of Eraaya Lifespaces and asked Bombay Stock Exchange officials to investigate it. The suspicion is over the funds raised and later used for the are multiple such SME listed and unlisted companies, promoted and run by Vikas premises were also searched when multiple other companies and linked properties were searched on April 16 by ED of Garg's promoted companies which are under investigation are Vikas Lifecare Limited, Vikas Ecotech Limited, Advika Finvest, Advika Capital Limited and investigations revealed that Tibrewal had, through FPI, made investments in multiple firms owned by then, Garg has been issued multiple summons by ED officials to join investigations in the case. Earlier Garg's companies were under investigation by the Income Tax Investigation Wing, GST and few other other companies under investigation in the case have also been asked to join investigations, which include firms like Ease My Trip, IITL, JTL Industries, Gensol and others. The Securities and Exchange Board of India (SEBI) also has been informed by ED officials regarding manipulation of shares and artificial inflation of proximity to Tibrewal is also being probed by agency officialhttps:// Acquisition attempts for a club in the United Arab Emirates (UAE) were also under the other companies where Tibrewal had invested through FPI, the promoters of many of those companies, are known to Garg has so far carried out around 170 raids across the country and several companies, persons and entities in the Mahadev Betting app case and assets worth over rupees 3000 crores in property, cash and movable properties have been attached, including demat accounts and share holdings.- EndsTune InMust Watch
Mint
10 hours ago
- Mint
Chemkart India shares list on a flat note at ₹250 on BSE SME. Details here
Chemkart India IPO listing: Shares of Chemkart India listed on a lacklustre note on the BSE SME platform on Monday, July 14. Chemkart India share price debuted at ₹ 250 per share as against the issue price of ₹ 248, a premium of just 0.81%. However, within minutes of listing, Chemkart India share price extended gains as it rose to the day's high of ₹ 257.90, recording a 4% rise over the initial public offering (IPO) price. The listing was largely in line with the grey market premium (GMP) trends. Chemkart India IPO GMP was ₹ 3, signalling a 1% listing pop for the company shares. Chemkart India IPO had witnessed a decent demand for its IPO during the bidding process, which opened on July 7 and closed on July 9. At the end of the subscription period, Chemkart India IPO was booked 5.91 times. The individual investor portion was booked 1.63 times, and the non-institutional investor (NII) portion was subscribed 5.64 times. The qualified institutional buyer (QIB) portion was booked the most at 13.69 times. Chemkart India IPO was a book-building offer of ₹ 80.08 crore. The issue was a combination of a fresh issue of ₹ 64.48 crore and an offer for sale of ₹ 15.60 crore. The company plans to use the funds raised for financing the expenditure towards setting up a manufacturing facility through investment in a wholly-owned subsidiary, repayment of certain borrowings availed by the company and for general corporate purposes. Smart Horizon Capital Advisors Private Limited was the book-running lead manager of the Chemkart India IPO, while Bigshare Services Pvt Ltd acted as the registrar for the issue. Chemkart India is a distributor of high-quality food and health ingredients. The company targets the B2B platform, providing products for manufacturing supplements like sports, health, vitamins, and protein.
