Astron Multigrain IPO: Price, GMP, Analysis, And Details

Astron Multigrain IPO- Company Analysis

Astron Multigrain IPO under the SME IPO category is a fixed price issue of Rs. 18.40 Cr by Astron Multigrain Ltd. and makes instant noodles. The company is involved in contract production of noodles for Gokul Snacks Pvt. Ltd., which has its own brand. The company also has its own brand “Astron’s Swagy Noodles” which is sold in Mast Masala (Classic Flavour).  

Business Model 

Contract Manufacturing: In this segment, all activities such as sourcing and procurement of ingredients and raw materials, production, handling, and packaging are carried out by the company, but the client sells the products under their brand.  

Own Brand Manufacturing: In this segment, the company produces and sells goods under its brand name.  

In addition to noodles, it also sells noodle bhujiya and papad.

Astron Multigrain IPO Details

The Astron Multigrain IPO date of opening is 01 December 2025, its initial public offering will end on 03 Dec, IPO allotment on Dec 04 and refund initiation on Dec 05, 2025.

The Rs. 18.40 crore new SME IPO comprises a combination of fresh issue of 0.23 crore shares (Rs. 14.74 Cr) and offer for sale of 0.06 crore shares (Rs. 3.65 Cr).

The Astron Multigrain IPO listing date (expected) might be on Monday, Dec 08, 2025, and listing at the BSE and SME. 

The Astron Multigrain IPO price band is Rs. 63.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Dec 01, 2025
IPO Closing Date	Dec 03, 2025
IPO Allotment Date	Dec 04, 2025
Refund Initiation	Dec 05, 2025
IPO Listing Date	Dec 08, 2025

 

Click to open demat account and apply for the IPO.

 

 

Company Financials

(Amount in Cr)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	21.79	17.71	14.83
Total Income	33.92	26.51	19.50
Profit After Tax (PAT)	2.31	1.98	1.24
EBITDA	4.06	3.11	2.61
Net Worth	10.51	8.20	3.82
Reserves & Surplus	4.25	1.94	1.17
Total Borrowing	4.28	5.02	6.70

 

Cash Flows

(Amount in lac)

Net Cash Flow	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	84.91	68.61	273.51
Net Cash Flow Investing Activities	(2.13)	(67.67)	(124.93)
Net Cash Flow Financing Activities	(113.97)	0.20	(118.36)

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Funding Capital Expenditure towards the purchase of machinery. ~ Rs. 4.46 Cr.

• To meet working capital requirements. ~ Rs. 5.65 Cr.

• General corporate purposes. 

 

Listed Peers of Astron Multigrain Ltd.

Company Name	Face Value (Rs. )	EPS (Rs. )	P/E Ratio (x)
Hindustan Unilever Limited	1	45.30	55.96
Patanjali Foods Limited	2	35.96	52.92
Marico Limited	1	11.91	56.18

 

Valuation

KPI	Values
ROE	24.66%
ROCE	23.73%
Debt-to-Equity	0.41
RoNW	21.95%
PAT Margin	6.80%
EBITDA Margin	11.98%
Price to Book Value	3.75

 

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 3.69 from the last year, the resulting P/E ratio is 17.07x.

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IPO's Strengths

• Increasing the presence in all end-user application sectors.

• Dedication to the ongoing creation of sustainable solutions and novel performance chemistries.

• Maintaining the emphasis on growing geographically.

• Diversify end-user industries by leveraging existing strategic alliances and collaborations.
  
  

IPO’s Weaknesses 

• Results could be impacted by shifts in supply, demand, input costs, and general macroeconomic conditions.

• Additionally, the business sells under the name "Astron's Swagy Noodles." However, it is a small-scale, new brand, playing against powerful players (Yippee, Maggi, etc.). This raises the danger of market adoption and competition.

• The company primarily produces noodles under contract for a single, sizable customer, Gokul Snacks Pvt. Ltd. Revenue will be significantly impacted if the contract expires or order volume decreases.

 

Astron Multigrain IPO GMP (Grey Market Premium)

Astron Multigrain IPO GMP today is Rs. 0 as of 29 Nov 2025 at the time of writing this information.

Astron Multigrain IPO Summary

IPO Opening & Closing Date	01 Dec, 2025 to 03 Dec, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 63 per Share.
Lot Size	2000 Shares
Issue Size	29,20,000 Shares (Rs. 18.40 Cr)
Offer for Sale	5,80,000 Shares (Rs. 3.65 Cr)
Fresh Issue	21,92,000 Shares (Rs. 13.81 Cr)
Listing at	BSE, SME
Issue Type	Fixed price issue IPO
Registrar	Bigshare Services Pvt. Ltd.

IPO Lot Details 

Retail investors can invest in a minimum of 2 Lots (4000 Shares) for Rs. 2,52,000, and in multiples thereof, while S-HNI investors can invest in a minimum of 3 Lots (6000 Shares) for Rs. 3,78,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

Astron Multigrain IPO Allotment Status

To check the Astron Multigrain IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

 

Promoters And Management of Astron Multigrain Ltd.

• Mr. Jenish Parshottambhai Khunt.

• Ms. Poonam Jenish Khoont.

Pre-Issue Promoter Shareholding	99.99%
Post-Issue Promoter Shareholding	66.05%

 

IPO Lead Managers

• Finaax Capital Advisors Private Limited.
  
  

Dividend Policy

The company has not declared a dividend during the last three financial years.

 

Conclusion

The Astron Multigrain IPO provides investors with exposure to a rapidly expanding manufacturer of instant foods that has steady margins and significant financial improvements.  Its reliance on a single contract client and fierce competition from large brands, however, continue to be major challenges. Valuations look moderate with a P/E of 17.07x, making it decently priced for an SME offering. 

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.

You must consult your financial advisor before making any financial decisions.

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.