Astron Multigrain Ltd IPO

FMCG

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Price Band

₹63 – ₹63

Lot Size

2000

Minimum Bid Quantity

4000

Minimum Investment

₹252000

Issue Size

₹18.4Cr

Opens

2025-12-01

Closes

2025-12-03

Listing

08-12-2025

IPO Details

Issue Type

FP

Face Value

₹10

Tick Size

1

ISIN

INE0RUY01012

Pre-Apply Available

No

Daily Bidding Time

10:00:00 - 17:00:00

About the Company

Astron Multigrain is a manufacturer of instant noodles and related food products. The company produces instant noodles on a contract manufacturing basis for Gokul Snacks Private Limited, which sells the products under its own trade name, and also manufactures noodles for its in-house brand, “Astron’s Swagy Noodles,” available in a single variant. Its instant noodles are sold in dried blocks along with flavouring powder or seasoning oil. In addition to instant noodles, the company manufactures noodle bhujiya and papad. The company operates from its registered office and manufacturing unit located at Rajkot, Gujarat. Its products are supplied in the business-to-business (B2B) segment across Gujarat, Madhya Pradesh, Maharashtra, and Bihar.

Pros

  • • The company claims to benefit from large-scale manufacturing, which reduces per-unit production costs. Higher production volumes allow them to negotiate better terms with suppliers, optimise machinery usage, and spread fixed costs over a wider base. They also claim that automation in key processes helps lower labour expenses and minimise waste.
  • • Astron Multigrain operates in a category where consumers prefer familiar and reliable brands, and the company claims to have built recognition for its “Astron Swagy” products. Its ability to maintain consistent taste and product quality has contributed to repeat consumption. The company states that this consistency has supported stronger brand recall in the regions where it operates.
  • • Astron Multigrain primarily supplies to super stockists in Gujarat, Madhya Pradesh, Maharashtra, and Bihar. The company claims that these long-standing relationships enable coverage across urban, semi-urban, and rural areas, including locations that may be difficult to serve directly. This model supports accessibility for small retailers such as kirana stores and local shops.

Cons

  • • The top customer accounted for Rs 6.77 crore (19.97 percent) of the company’s revenue in FY25, Rs 4.69 crore (18.12 percent) in FY24, and Rs 6.52 crore (33.47 percent) in FY23. Failure to retain this client, secure new ones, or maintain historical business volumes could adversely affect the company’s revenue and financial performance.
  • • The top supplier accounted for Rs 7.04 crore (25.58 percent) of the company’s total purchases in FY25, Rs 3.31 crore (15.77 percent) in FY24, and Rs 7.98 crore (48.35 percent) in FY23. The company does not enter into long-term supply agreements, making it dependent on spot-market pricing. Any disruption in supply from this vendor could adversely affect the company’s procurement, production continuity, and overall operational performance.
  • • The company, its directors, key managerial personnel, and senior management are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.

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