Astron Multigrain Limited
Fixed Price IPO · BSE
- Price band
- ₹63 - ₹63
- Lot size
- 2,000 shares
- Issue amount
- ₹18.4 cr
- Total subscription
- 1.27×
- Opens
- 1 Dec 2025
- Closes
- 3 Dec 2025
- Allotment
- 4 Dec 2025
- Listing
- 8 Dec 2025
Offer at a glance
Issue overview
- Issue size
- 29,20,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,26,000
- Fresh issue
- ₹14.74 cr
- Offer for sale
- ₹3.65 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,26,000
- Issue type
- Fixed Price IPO
- Shares before issue
- 62,60,000
- Shares after issue
- 86,00,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 4,000 | ₹2,52,000 |
| sHNI | 3 | 6,000 | ₹3,78,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 3 Dec 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| NIB | 0 | 89 |
| RETAIL | 347 | 15 |
| HNIs (2-10L) | 231 | 1 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| RETAIL | 8.74 | 16.98 |
| NIB | 8.72 | 5.28 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Oct-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 5.79 | 3.69 | 3.25 |
| ROE | 18.28 | 24.66 | 33 |
| ROCE | 18.85 | 23.73 | 19.36 |
| RONW | 16.75 | 21.95 | 24.18 |
| PRE IPO(PE) | 0 | 17.09 | 0 |
| POST IPO(PE) | 14.95 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Marico | 56.18 | 735.7 | 1 | 36.92 | 32.35 | 11.91 |
| Patanjali Foods | 52.92 | 591.8 | 2 | 314.04 | 12.06 | 35.96 |
| Hindustan Unilever | 55.96 | 2,582 | 1 | 209.16 | 21.20 | 45.30 |
| Astron Multigrain | 17.09 | 0 | 10 | 16.79 | 21.95 | 3.69 |
Company information
Company profile
Astron Multigrain is engaged in manufacturing instant noodles, operating both as a contract manufacturer for Gokul Snacks Pvt. Ltd.—which sells the products under its own brand—and as a producer of its in-house brand “Astron’s Swagy Noodles,” currently available in the Mast Masala (Classic) flavor. The company also manufactures noodle bhujiya and papad. Its manufacturing facility, located in Gondal, Rajkot, Gujarat, has an installed capacity of 5,110 MTA and holds an FSSAI license under the Food Safety and Standards Act, 2006. Astron Multigrain sells primarily in the B2B segment across Gujarat, Madhya Pradesh, Maharashtra, and Bihar through super stockists, wholesalers, and retailers. In FY 2025, 79.82% of its revenue came from its own brand manufacturing, while 20.18% was generated through contract manufacturing.
Strengths
- Strong Leadership & Industry Experience: An expert promoter group with deep sector understanding drives efficient operations, supports continuous improvement, and guides smart business expansion.
- Competitive & Value-Based Pricing: A budget-friendly pricing model helps attract wider consumer groups, strengthen demand in regional markets, and stay competitive against other affordable brands.
- Recognized Brand & Reliable Market Presence: The established identity of “Astron’s Swagy Noodles” along with trusted B2B partnerships ensures recurring sales, better visibility, and a stable position in the market.
Risk factors
- Over-Reliance on Few Customers: Revenue is heavily dependent on a small client base, and losing or reducing business from any major buyer could sharply impact financial performance.
- Limited Supplier Base Dependency: Procurement relies on only a few key suppliers, making the company exposed to potential supply chain delays, pricing volatility, and raw material shortages.
- Active Legal Matters & Compliance Risk: Ongoing litigations involving the company and its key personnel could result in penalties or financial burdens that may disrupt operations and damage credibility.
Promoters
Mr. Jenish Parshottambhai Khunt
Ms. Poonam Jenish Khoont
Registrar & documents
Lead manager
Finaax Capital Advisors Private Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Plot No. 17 To 21, Near Ram Hotel, Chordi, Gondal Rajkot, Gujarat, 360311
+91 8849506534
[email protected]Company website ↗Understanding ASTRONMULT IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.