Astron Multigrain
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 08 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹63 | ₹0 |
| 07 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹63 | ₹0 |
| 06 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹63 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 01 Dec 2025 – 03 Dec 2025
- Listing date
- 08 Dec 2025
- Face value
- ₹1 per share
- Issue price
- ₹63 per share
- Lot size
- 2,000 shares
- Issue type
- Fixed Price issue
- Listing at
- BSE
- Total issue size
- ₹18.4 Cr
- Market cap at offer price
- ₹54.18 Cr
- Promoter holding
- 99.99% → 66.05% pre-issue → post-issue
- ISIN
- INE0RUY01012
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Finaax Capital Advisors Pvt.Ltd.
- Registered office
- Plot No.17 To 21, Near Ram Hotel, Chordi, Gondal, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 1,48,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹63
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,26,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,52,000 |
| S-HNI (max) | 7 | 14,000 | ₹8,82,000 |
| B-HNI (min) | 8 | 16,000 | ₹10,08,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹63 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 3.69 | 4.21 |
| P/E (×) | 17.07 | 14.96 |
| Price to book (×) | 3.75 | — |
| Market cap | — | ₹54.18 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 21.95%
- ROCE
- 23.73%
- Debt / equity
- 0.41
- PAT margin
- 6.80%
- EBITDA margin
- 11.98%
- NAV per share
- ₹16.79
- Price to book
- 3.75
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Astron Multigrain
Astron Multigrain Limited was incorporated on August 1, 2018 as "Astron Multigrain Private Limited" in Rajkot, Gujarat, and converted to a public limited company on October 31, 2023. Established in 2018, the company manufactures instant noodles at its registered-office/manufacturing unit at Plot No. 17 to 21, Chordi, Gondal, Rajkot (installed capacity 5,110 MTA), operating through two verticals: (1) contract manufacturing of noodles for clients such as Gokul Snacks Private Limited, who sell the products under their own trade names, and (2) own-brand manufacturing of "Astron's Swagy Noodles" — available in the single Mast Masala (Classic flavour) variant in 25 gm (₹5) and 50 gm (₹10) SKUs — plus non-branded papad produced on an order basis (noodle bhujiya production was discontinued from FY2024-25). The FSSAI-licensed, ISO 22000:2018-certified plant sells in the B2B channel through super stockists, who supply wholesalers and retailers, primarily in Gujarat (93.93% of revenue for the period ended October 31, 2025), Maharashtra, Madhya Pradesh and Bihar. For FY2025 the company reported revenue from operations of ₹3,390.58 lakhs and PAT of ₹230.71 lakhs; promoters Jenish Parshottambhai Khunt (Chairman & MD) and Poonam Jenish Khoont together held 99.99% of pre-issue capital. Via a fixed-price BSE SME IPO at ₹63 per share, it is raising ₹1,839.60 lakhs — a fresh issue of ₹1,474.20 lakhs for machinery capex, working capital and general corporate purposes, plus a ₹365.40 lakhs offer for sale of 5,80,000 shares by promoter Jenish Parshottambhai Khunt.
Company Analysis
from DRHPAstron Multigrain Limited is a Gujarat-based manufacturer of instant noodles — producing noodles on a contract basis for marketers such as Gokul Snacks Private Limited and selling its own brand "Astron's Swagy Noodles" (Mast Masala), alongside non-branded papad — catering to India's ready-to-eat food industry.
Astron Multigrain Limited was incorporated on August 1, 2018 as "Astron Multigrain Private Limited" in Rajkot, Gujarat, and converted to a public limited company on October 31, 2023. Established in 2018, the company manufactures instant noodles at its registered-office/manufacturing unit at Plot No. 17 to 21, Chordi, Gondal, Rajkot (installed capacity 5,110 MTA), operating through two verticals: (1) contract manufacturing of noodles for clients such as Gokul Snacks Private Limited, who sell the products under their own trade names, and (2) own-brand manufacturing of "Astron's Swagy Noodles" — available in the single Mast Masala (Classic flavour) variant in 25 gm (₹5) and 50 gm (₹10) SKUs — plus non-branded papad produced on an order basis (noodle bhujiya production was discontinued from FY2024-25). The FSSAI-licensed, ISO 22000:2018-certified plant sells in the B2B channel through super stockists, who supply wholesalers and retailers, primarily in Gujarat (93.93% of revenue for the period ended October 31, 2025), Maharashtra, Madhya Pradesh and Bihar. For FY2025 the company reported revenue from operations of ₹3,390.58 lakhs and PAT of ₹230.71 lakhs; promoters Jenish Parshottambhai Khunt (Chairman & MD) and Poonam Jenish Khoont together held 99.99% of pre-issue capital. Via a fixed-price BSE SME IPO at ₹63 per share, it is raising ₹1,839.60 lakhs — a fresh issue of ₹1,474.20 lakhs for machinery capex, working capital and general corporate purposes, plus a ₹365.40 lakhs offer for sale of 5,80,000 shares by promoter Jenish Parshottambhai Khunt.
Objects of the Issue
- Funding Capital Expenditure towards purchase of machinery ₹ 445.64 Lakhs p.89
- To Meet Working Capital Requirements ₹ 565.00 Lakhs p.91
- General Corporate Purposes ₹ 213.57 Lakhs p.95
Issue Structure
- Total Issue
- 29,20,000 Equity Shares aggregating to ₹ 1839.60 Lakhs
- Fresh Issue
- 23,40,000 Equity Shares aggregating to ₹ 1474.20 Lakhs
- Offer for Sale
- 5,80,000 Equity Shares aggregating to ₹ 365.40 Lakhs (by Promoter/Selling Shareholder Jenish Parshottambhai Khunt)
- Price Band
- Fixed Price Issue at ₹ 63/- per Equity Share
- Lot Size
- 2000 Equity Shares and in multiples of 2000 Equity Shares thereafter; subject to a minimum allotment of 4000 Equity Shares to the successful applicants
- Face Value
- ₹ 10/- each
Business Model
Revenue is earned from two disclosed verticals: (1) Own Brand Manufacturing (~71–80% of recent revenue) — Mast Masala instant noodles under the "Astron Swagy" trade name and non-branded, order-based papad, marketed and distributed by the company itself through super stockists in a B2B model; and (2) Contract Manufacturing (~18–40% of revenue) — noodles produced for clients such as Gokul Snacks Private Limited, where AML procures/handles ingredients, packaging and quality control while the client owns the brand and bears marketing and distribution.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Jenish Parshottambhai Khunt | Promoter (also Chairman & Managing Director; Selling Shareholder offering 5,80,000 shares in the OFS) | 96.00% | 63.14% |
| Poonam Jenish Khoont | Promoter (also Non-Executive Director) | 3.99% | 2.91% |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.