Astonea Labs IPO Day 3: Check date, price band, subscription status, GMP, and other key details

SME IPO: Astonea Labs initial public offering (IPO) opened for subscription on Tuesday, May 27 and closed on Thursday, May 29. The SME IPO was booked 1.79 times at the end of the three-day bidding process.

Founded in 2017, Astonea Labs Ltd. specialises in contract manufacturing of pharmaceutical and cosmetic products for clients in both domestic and international markets. The company produces and distributes a wide range of pharmaceuticals and cosmetics, such as antibiotics, cold remedies, antihistamines, and treatments for conditions like diabetes, cardiovascular issues, gynaecological problems, and infections.

Not more than 50 per cent of the issue is reserved for QIBs, and over 35 per cent reserved for retail investors and 15 per cent reserved for NIIs.

Astonea Labs IPO subscription status

The Astonea Labs IPO has been subscribed 1.79 times by the third day of bidding. The SME IPO has received 47,27,000 share applications against the offered 20,00,000 shares.

The retail portion has received 1.69 times, meanwhile, the non-institutional investors (NIIs) quota was subscribed 5.60 times. QIBs portion was booked 70 per cent.

Astonea Labs IPO GMP, and other details

The SME IPO is currently trading at nil in the grey market, as per Investorgain. This means that the shares of Astonea Labs are trading at a premium of ₹0 in the grey market.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Astonea Labs is launching an IPO through the book-building process, aiming to raise ₹37.67 crore. The entire offering consists of a fresh issue of 27.90 lakh equity shares.

The price band for the IPO has been set between ₹128 and ₹135 per share. Retail investors must apply for a minimum lot of 1,000 shares, requiring a minimum investment of ₹1,28,000.

The allotment for the Astonea Labs IPO is expected to be finalized on Friday, May 30. The SME IPO will be list on BSE SME with a tentative listing date fixed as Tuesday, June 3.

Oneview Corporate Advisors Pvt. Ltd. is the book-running lead manager of the Astonea Labs IPO, while Kfin Technologies Limited is the registrar for the issue.

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