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Astron Multigrain IPO
Price Band
₹
Issue Size
₹18.4 Cr
Lot Size
2,000 shares
Min Investment
₹252,000
2 LOTS MIN
GMP
—
Issue Price
₹63.0
Astron Multigrain IPO AI Summary
- Astron Multigrain IPO is listed on BSE SME in the Packaged Foods sector.
- Subscription window: 01 Dec–03 Dec 2025, listing on 08 Dec 2025.
Astron Multigrain is focused on the packaged foods sector, primarily manufacturing instant noodles and related products. The company has shown growth in revenue and profit over recent periods, with plans to utilize IPO proceeds for capital expenditures and working capital. Investors should consider the company's fundamentals and market conditions when evaluating the IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Astron Multigrain IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 03 Dec 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Astron Multigrain IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in , Astron Multigrain manufactures instant noodles. It produces noodles on a contract basis for Gokul Snacks Pvt. Ltd., who sells them under their own brand. The company also sell under own brand “Astron’s Swagy Noodles”, currently available in Mast Masala (Classic Flavour). Business Model Contract Manufacturing: In this vertical, everything from ingredients and raw material procurement, handling, and packaging is done by the company but the client sells products under own brand. Own Brand Manufacturing: In this vertical, it manufactures and sells products under the own brand name. Apart from noodles, it also make noodle bhujiya and papad. Manufacturing Facility: Gondal, Rajkot, Gujarat, with an installed capacity of 5110 MTA. The facility is accredited with FSSAI license under Food Safety and Standards Act, 2006. Customers and market presence: The company markets and sells products in teh B2B segment, majorly in the states of Gujarat, Madhya Pradesh, Maharashtra and Bihar. The products are sold to Super Stockiest who supplies to the wholesalers and further distributed among retailers. Segment-wise revenue: In FY 25, 79.82% of total revenue was derived from own brand manufacturing and 20.18% derived from contract manufacturing. Competitive strengths Experienced Promoters and Management Team Affordable Pricing Well-established trade name Quality Compliance Widespread Sales and Distribution Network
Company Financials (₹ Cr)
As of 2025-10-31
| Period Ended | 31 Oct 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 27.55 | 21.79 | 17.71 | 14.83 |
| Total Income | 23.58 | 33.92 | 26.51 | 19.50 |
| Profit After Tax | 2.11 | 2.31 | 1.98 | 1.24 |
| EBITDA | 3.35 | 4.06 | 3.11 | 2.61 |
| NET Worth | 12.62 | 10.51 | 8.20 | 3.82 |
| Reserves and Surplus | 6.36 | 4.25 | 1.94 | 1.17 |
| Total Borrowing | 3.42 | 4.28 | 5.02 | 6.70 |
Key Ratios
EPS
₹3.69
NAV
₹16.79
ROE
24.66%
ROCE
23.73%
RoNW
21.95%
P/B Value
3.75
P/E Ratio
17.09
Market Cap
₹54.18 Cr
PAT Margin
6.80%
Debt/Equity
0.41
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Marico | 36.92 | 32.35% | 56.18 | 11.91 | 11.88 |
| Patanjali Foods | 314.04 | 12.06% | 52.92 | 35.96 | 35.96 |
| Hindustan Unilever | 209.16 | 21.2% | 55.96 | 45.3 | 45.3 |
| Astron Multigrain This IPO | 16.79 | 21.95% | — | 3.69 | 3.69 |
Promoters
Jenish Parshottambhai Khunt and Poonam Jenish Khoont
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding Capital Expenditure towards purchase of machinery 4.46 2 To meet working capital requirements 5.65 3 General Corporate Purposes 2.14 4 Issue Expenses 2.50 Total 14.74
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
In FY 2023, total income was ₹19.50 Cr, which increased to ₹26.51 Cr in FY 2024. The income further rose to ₹33.92 Cr by FY 2025, though this is a 9-month figure, not a full year, so isn't directly comparable. As of October 2025, total income was ₹23.58 Cr.
Profit Trend
Profit After Tax was ₹1.24 Cr in FY 2023, increasing to ₹1.98 Cr in FY 2024. This figure rose to ₹2.31 Cr in FY 2025, but again, this is a 9-month figure, not a full year, so isn't directly comparable. As of October 2025, Profit After Tax was ₹2.11 Cr.
Valuation
At the issue price of ₹63.0, Astron Multigrain has an implied P/E ratio of 17.09 based on its EPS of ₹3.69. This is lower than its peers, which trade at P/E ratios ranging from 52.92 to 56.18.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of the shares based on demand and supply in the grey market. A higher GMP suggests strong demand, while a lower GMP indicates weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors like market conditions, company fundamentals, and personal risk tolerance.
Who May Want to Wait
Those who are risk-averse or prefer stable investments may want to avoid IPOs with higher volatility and uncertainty, such as this one, especially in the packaged foods sector.
IPO Timeline, Explained
The IPO process includes several key dates: it opens for subscription on December 1, 2025, and closes on December 3, 2025. Allotment of shares will be done by December 4, 2025, with the listing on the stock exchange expected on December 8, 2025.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may see a surge in price on their first day, others might not perform as well. Factors influencing listing gains include market conditions, investor sentiment, and the company's financial health.
This evaluation is generated from Astron Multigrain's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
When does Astron Multigrain IPO open and close?
Astron Multigrain IPO opens on 01 December 2025 and closes on 03 December 2025.
When does Astron Multigrain IPO list on the stock exchange?
Astron Multigrain IPO listed on 08 December 2025 at ₹63.0.
What is the lot size for Astron Multigrain IPO?
The lot size for Astron Multigrain IPO is 2000 shares, requiring a minimum investment of ₹252,000 (2 lots).
What is the lot size for the Astron Multigrain IPO?
The lot size for the Astron Multigrain IPO is 2000 shares.
What is the minimum investment required for this IPO?
The minimum investment required is ₹252,000.
What is the issue price of the Astron Multigrain shares?
The issue price of the Astron Multigrain shares is ₹63.0.
When does the Astron Multigrain IPO open and close?
The IPO opens on December 1, 2025, and closes on December 3, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the shares based on demand in the unofficial market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
01 Dec 2025
Close
03 Dec 2025
Allotment
04 Dec 2025
Listing
08 Dec 2025
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