Astron Multigrain Limited is a Gujarat-based FMCG food manufacturer primarily engaged in producing instant noodles and related ready-to-eat/ready-to-cook products. The company operates through a mix of contract manufacturing and own-brand manufacturing, catering to diverse B2B clients across multiple states.
Astron manufactures and sells:
- Fried and instant noodles
- Cup/bowl noodles
- Pasta & macaroni
- Vermicelli variants
- Ready-to-cook mixes
- Seasonings & condiments
The company operates a fully integrated manufacturing facility at Chordi, Gondal, Rajkot, Gujarat, with an installed capacity of 5,110 MTA. The plant is equipped with end-to-end processes including mixing, steaming, frying, drying, packaging, warehousing, and quality control. It holds all major regulatory approvals, including FSSAI, HACCP, ISO 22000:2018, as well as Legal Metrology and Pollution Control clearances.
The company operates in the B2B segment, primarily catering to markets in Gujarat, Madhya Pradesh, Maharashtra, and Bihar. Its products are distributed through a structured network of Super Stockists → Wholesalers → Retailers. The company also holds an Import Export Code, providing scope for future export opportunities.
In FY 2024–25, 79.82% of the company’s revenue came from own-brand manufacturing, while 20.18% was derived from contract manufacturing, indicating a strong focus on scaling its own Astron brand alongside a stable contract-based business.
Astron Multigrain IPO – Details
| IPO Opening Date | 01 December 2025 |
| IPO Closing Date | 03 December 2025 |
| Issue Type | Fixed Price IPO |
| Issue Size | Total Issue: 29,20,000 Shares Worth ₹18.40 Crore Fresh Issue: 23,40,000 Shares Worth ₹14.75 Crore Offer For Sale: 5,80,000 Shares Worth ₹3.65 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹63 per share |
| Market Lot | 2000 Shares |
| Min Order | 2000 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Bigshare Services Pvt.Ltd. |
| NII Shares Offered | 50% |
| Retail Shares Offered | 50% |
Astron Multigrain IPO – Date Schedule
| IPO Open Date | 01 December 2025 |
| IPO Close Date | 03 December 2025 |
| Basis of Allotment | 04 December 2025 |
| Initiation of Refund | 05 December 2025 |
| Credit of Shares to Demat | 05 December 2025 |
| IPO Listing Date | 08 December 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 03, 2025 |
Astron Multigrain IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4000 | ₹2,52,000 |
| Retail (Max) | 2 | 4000 | ₹2,52,000 |
| S-HNI (Min) | 3 | 6000 | ₹3,78,000 |
Competitive Strength
- Experienced Promoters and Management Team.
- Affordable Pricing.
- Well-established trade name.
- Quality Compliance.
- Widespread Sales and Distribution Network.
Company Promoters
- Mr. Jenish Parshottambhai Khunt
- Ms. Poonam Jenish Khoont
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹19.50 Cr | ₹17.98 Cr | ₹1.24 Cr | ₹6.70 Cr |
| 31 March 2024 | ₹26.51 Cr | ₹23.94 Cr | ₹1.98 Cr | ₹5.02 Cr |
| 31 March 2025 | ₹33.92 Cr | ₹30.83 Cr | ₹2.31 Cr | ₹4.28 Cr |
| 31 October 2025 | ₹23.58 Cr | ₹20.73 Cr | ₹2.11 Cr | ₹3.42 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 24.66% |
| ROCE | 23.73% |
| Debt\Equity | 0.41 |
| RoNW | 21.95% |
| PAT Margin | 6.80% |
| EBITDA Margin | 11.98% |
| Price to Book Value | 3.75 |
| Market Capitalization | ₹54.18 Cr. |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.69 | 4.21 |
| P/E (x) | 17.09 | 14.95 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding Capital Expenditure towards the purchase of machinery. | ₹4.46 |
| To Meet Working Capital Requirements. | ₹5.65 |
| General Corporate Purposes. | – |
✅Strengths
- Certified, integrated plant with FSSAI, HACCP, ISO 22000:2018 approvals.
- Diversified portfolio: noodles, seasonings, noodle bhujiya, papad.
- Strong revenue from own brand (79.82%) showing brand growth.
- Established B2B network across Gujarat, MP, Maharashtra, Bihar.
- Stable demand through private-label clients like Gokul Snacks.
- IEC registration enabling future export opportunities.
⚠️Risks
- Revenue concentrated with few key B2B customers.
- Raw material price fluctuations may impact margins.
- Pending GST, Income Tax & TDS demands.
- Ongoing trademark opposition for “Astron’s Swagy”.
- Dependence on limited geographies, mainly Gujarat region.
- Single manufacturing facility increases operational risk.
- Strict regulatory compliance requirements (FSSAI, pollution, metrology).
Astron Multigrain IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 66.05% |
Astron Multigrain IPO Prospectus
Company Contact Information
| Astron Multigrain Ltd. 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 IPO Registrar
| Bigshare Services Pvt.Ltd. Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Astron Multigrain IPO Lead Manager(s)
| . Finaax Capital Advisors Private Limited |
Astron Multigrain IPO FAQ
| What is Astron Multigrain IPO? Astron Multigrain IPO is an SME IPO. The issue is priced at ₹63 per equity share. The IPO is to be listed on BSE SME. |
| When Astron Multigrain IPO will open? The IPO is to open on 01 December 2025 for NII and Retail Investors. |
| What is Astron Multigrain IPO Investors Portion? The investors’ portion for NII – 50% and Retail – 50%. |
| What is the Astron Multigrain IPO Size? Astron Multigrain IPO size is ₹18.40 Crore. |
| What is Astron Multigrain IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 4000 Shares with ₹2,52,000 amount, while the maximum bid is 4000 Shares with ₹2,52,000. |
| What is the Astron Multigrain IPO Allotment Date? Astron Multigrain IPO allotment date is 04 December 2025. |
| What is the Astron Multigrain IPO Listing Date? Astron Multigrain IPO listing date is 08 December 2025. The IPO is to be listed on the BSE SME. |
