Asston Pharmaceuticals IPO Opens with ₹123 Price Cap; QIBs Lead on Day 1 with 3.51× Demand
By Shishta Dutta | Published at: Jul 9, 2025 06:26 PM IST
Mumbai, July 9, 2025 — Asston Pharmaceuticals Limited (Symbol: APL) opened its SME IPO for subscription today and saw encouraging institutional participation, with Qualified Institutional Buyers (QIBs) bidding 3.51 times their allotted quota. The IPO, priced in the band of ₹115–₹123 per share, will remain open from July 9 to July 11, 2025.
Key IPO Details
- The price band for the issue is set at ₹115 to ₹123 per share, with a face value of ₹10 per share.
- Investors are required to bid in lots of 1,000 shares, with a minimum bid quantity of 2,000 shares.
- The total issue size stands at 16,06,000 equity shares.
| Particulars | Details |
|---|---|
| Symbol | APL |
| Issue Period | July 9 to July 11, 2025 |
| Price Band | ₹115 – ₹123 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,000 shares |
| Minimum Bid Quantity | 2,000 shares |
| Maximum QIB Bid | 14,93,000 shares |
| Maximum NII Bid | 10,68,000 shares |
| Tick Size | ₹1.00 |
| Issue Size (Shares) | 16,06,000 equity shares |
| UPI Category Allowed | IND (Retail) |
| IPO Categories | FI, IC, MF, FII, OTH, CO, IND, NOH |
Subscription Status (Day 1 – 4:59 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| QIB | 4,25,000 | 14,93,000 | 3.51× |
| NII (> ₹10 lakh) | 2,15,000 | 96,000 | 0.45× |
| NII (≤ ₹10 lakh) | 1,07,000 | 1,16,000 | 1.08× |
| Retail (2 lots) | 7,46,000 | 9,10,000 | 1.22× |
| Total | 16,06,000 | 26,15,000 | 1.63× |
Institutional Strength Drives Opening
The IPO witnessed strong institutional demand with only one QIB application accounting for nearly 1.5 million shares, pushing the QIB segment to 3.51× subscription. Retail investors also responded positively, applying for 9.10 lakh shares against the 7.46 lakh shares reserved for them a 1.22× subscription rate. The Non-Institutional Investor (NII) segment showed mixed momentum. While bids up to ₹10 lakh crossed full subscription at 1.08×, larger NII bids remained muted at 0.45×.
Listing and Allotment Timeline
- Final Allotment: Expected by July 15, 2025
- Listing on BSE SME: Tentatively by July 16, 2025
- UPI Mandate Cutoff: 5:00 PM on July 11, 2025
Market Outlook
With a cap price of ₹123 and a minimum bid requirement of 2,000 shares, the retail investment threshold starts at ₹2.46 lakh, positioning the offer toward high-intent retail investors. The healthy QIB response on Day 1 is likely to influence further traction across institutional and high-net-worth segments by the final day.
About Asston Pharmaceuticals
Asston Pharmaceuticals is a formulation manufacturer with a strong presence in African and emerging Asian markets. It operates both its own unit and third-party WHO-GMP-certified facilities and exports oral solids, liquids, ointments, and nutraceuticals.
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