Astron Multigrain
December 1, 2025 – December 3, 2025
| Price | ₹63 - ₹63 |
| GMP Rumors * | ₹2 |
|---|---|
| Lot size | 2000 |
| Issue size | ₹18.40 cr |
| Allotment | Dec 4, 2025 |
| Listing | Dec 8, 2025 |
Astron Multigrain Subscription
Last updated on 01-Dec-2025 17:06:06
| Category | Offered | Applied | Times |
|---|---|---|---|
| HNIs | 1384000 | 444000 | 0.32 |
| Individual | 1388000 | 1528000 | 1.1 |
| Total | 2772000 | 1972000 | 0.71 |
Application-Wise Breakup  | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (3-10L) | 231 | 58 | 0.25 |
| Individual | 347 | 382 | 1.1 |
Astron Multigrain Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| INDIVIDUAL | 2 | 4000 | 252000 | 347 |
| HNI | 3 | 6000 | 378000 | 231 |
Astron Multigrain Reservation
| Category | Shares Offered | % |
|---|---|---|
| HNI | 1384000 | 47.4% |
| INDIVIDUAL | 1388000 | 47.53% |
| Market Maker | 148000 | 5.07% |
| Total | 2920000 | 100% |
Astron Multigrain About
IPO Details
| Total Issue Size | 29,20,000 shares (aggregating up to 18.40 Cr) |
| Fresh Issue | 23,40,000 shares (aggregating up to 14.74 Cr) |
| Offer for Sale | 5,80,000 shares of (aggregating up to 3.65 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 62,60,000 shares |
| Share Holding Post Issue | 86,00,000 shares |
| Reserved for Market Maker | 1,48,000 shares (aggregating up to 0.93 Cr) |
| Market Maker | Prabhat Financial Services |
Key Performance Indicators
| KPI | Oct-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| ROE | 18.28% | 24.66% | 33.00% |
| ROCE | 18.85% | 23.73% | 19.36% |
| RONW | 16.75% | 21.95% | 24.18% |
| EPS (basic) | 5.79 | 3.69 | 3.25 |
| P/E Pre IPO | 17.09 | ||
| P/E Post IPO | 14.95 |
Financial Details In crores
| Period Ended | Oct-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| Assets | 27.55 | 21.79 | 17.71 | 14.83 |
| Total Income | 23.58 | 33.92 | 26.51 | 19.5 |
| 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 | 8.2 | 3.82 |
| Reserves and Surplus | 6.36 | 4.25 | 1.94 | 1.17 |
| Total Borrowing | 3.42 | 4.28 | 5.02 | 6.7 |
Peer Comparision (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| Astron Multigrain | 17.09 | - | 10 |
| Hindustan Unilever | 55.96 | 2,582 | 1 |
| Patanjali Foods | 52.92 | 591.8 | 2 |
| Marico | 56.18 | 735.7 | 1 |
Peer Comparision (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|---|
| Astron Multigrain | 16.79 | 21.95 | 3.69 |
| Hindustan Unilever | 209.16 | 21.2 | 45.3 |
| Patanjali Foods | 314.04 | 12.06 | 35.96 |
| Marico | 36.92 | 32.35 | 11.91 |
Company Overview
Astron Multigrain is a food manufacturing company engaged in producing instant noodles. It manufactures noodles on a contract basis for Gokul Snacks Pvt. Ltd., which markets the products under its own brand. The company also produces and sells noodles under its in-house brand “Astron’s Swagy Noodles”, currently offered in the Mast Masala (Classic) flavour. In addition to noodles, the company manufactures noodle bhujiya and papad.
Business Model
1. Contract Manufacturing
Under this model, Astron Multigrain manages the complete production process—including ingredient sourcing, raw material handling, manufacturing, and packaging—while the client markets and sells the finished products under their own brand.
2. Own Brand Manufacturing
The company manufactures and sells products under its proprietary brand, expanding its presence in the consumer market.
Manufacturing Facility
The company operates a manufacturing unit located in Gondal, Rajkot, Gujarat, with an installed capacity of 5,110 MTA. The facility holds a valid FSSAI license under the Food Safety and Standards Act, 2006.
Customers & Market Presence
Astron Multigrain primarily serves the B2B segment, with strong market presence in Gujarat, Madhya Pradesh, Maharashtra, and Bihar. Products are supplied to Super Stockists, who further distribute them to wholesalers and retailers.
Objects of the Issue
Funding capital expenditure for purchase of machinery – ₹4.46 cr
Working capital requirements – ₹5.65 cr
General corporate purposes
Strength
Experienced Promoters & Management: A strong leadership team with industry experience helps the company manage operations efficiently and scale steadily.
Affordable Pricing Strategy: The company’s value-for-money pricing helps it penetrate mass markets and compete effectively in regional noodle segments.
Well-Established Trade Name: “Astron’s Swagy Noodles” and long-standing B2B relationships give the company stable market presence.
Weakness
High Customer Concentration: A large portion of sales comes from a limited set of customers; losing even one can significantly hit revenue.
Dependence on Limited Suppliers: Relying on a small number of suppliers increases vulnerability to supply disruptions and cost fluctuations.
Ongoing Legal Proceedings: Court cases involving the company, promoters, and directors may lead to penalties or liabilities affecting business performance.
Astron Multigrain Lead Manager(s)
Astron Multigrain Address
Plot No. 17 To 21, Near Ram Hotel,
Chordi, Gondal
Rajkot, Gujarat, 360311
Phone: +91 8849506534
Email: cs@astronmultigrain.co.in
Website: http://www.astronmultigrain.co.in/
Astron Multigrain Registrar
Astron Multigrain Reviewers
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