Astron Multigrain Limited IPO

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Astron Multigrain Limited is a manufacturer of instant noodles and related ready-to-eat products. Established in 2018 as Astron Multigrain Private Limited, the company converted into a public limited entity in October 2023. Headquartered and operated from Gondal (Rajkot, Gujarat), the company serves B2B markets by supplying instant noodles, noodle bhujiya and papad.

Business Model

The company manufactures instant noodles through a dual business model:-

1. Contract Manufacturing: for third-party brands (such as Gokul Snacks Private Limited), handling sourcing, ingredients, packaging, and quality control while the client manages branding and marketing.

2. Own Brand Manufacturing: produces noodles under its own brand “Astron’s Swagy Noodles,” where the company retains complete control over procurement, production, marketing, and distribution, enabling it to build market presence and brand equity.

Product Portfolio

Astron manufactures ready-to-eat products such as:

i) Instant noodles (Classic Mast Masala)
ii) Noodle bhujiya
iii) Papad

Instant noodles are targeted at mass-consumption segments due to affordability, convenience and long shelf life. The company’s products are primarily consumed by students, working professionals, single households, families and users with limited cooking facilities.

Distribution Model

Astron sells primarily through B2B supply channels. Products are marketed in Gujarat, Madhya Pradesh, Maharashtra, and Bihar through a network of super stockists. These stockists supply wholesalers who further distribute to retail shops, enabling deep penetration into urban, semi-urban and rural markets.

Competitive Strengths

i) Experienced promoters and efficient workforce
ii) Affordable pricing through large-scale production
iii) Growing brand presence under “Astron Swagy”
iv) Strict quality compliance (FSSAI & ISO certified)
v) Wide distribution network through super stockists
vi) Cordial labour relations, with majority female employment in production roles

Objects of the Astron Multigrain Limited IPO:

Company proposes to utilize the Net Proceeds towards funding the following objects: 1. Capital Expenditure towards purchase of machinery (₹4.46 cr) 2. To Meet Working Capital Requirements (₹5.65 cr) 3. General Corporate Purposes (₹2.14 cr)

Astron Multigrain Limited IPO Details:

Open Date: Dec 01 2025
Close Date: Dec 03 2025
Total Shares: 29,20,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price
Issue Size: 18.40 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 63 Per Equity Share
Listing At: BSE SME
Listing Date: Dec 08 2025

Promoters And Management:

1. Jenish Parshottambhai Khunt (30), Chairman & Managing Director, a matriculate from Gujarat Secondary & Higher Secondary Education Board, he has over seven years of experience in the Ready-to-Eat food industry and has been associated with the company since inception. He currently oversees marketing, HR, sales, purchase, and accounts functions. 2. Poonam Jenishbhai Khoont (33), Non-Executive Director, a Bachelor of Pharmacy graduate from Gujarat Technological University, she has more than five years of experience in the Ready-to-Eat food sector. She leads production, quality assurance, storage, and maintenance activities within the company. 3. Drashti Laxmikant Solanki (31), Non-Executive Independent Director, holding B.Com, LL.B, M.Com, and Company Secretary qualifications, she brings nine years of experience in secretarial and compliance matters. She has worked with Bisazza India Pvt. Ltd., Shaarc Projects Ltd., and Ganesh Films India Ltd., and currently serves as Company Secretary at Apisyn Healthcare Pvt. Ltd.

Financials of Astron Multigrain Limited IPO:

To be updated shortly

Comparison With Peers:

To be updated shortly

Lead Manager of Astron Multigrain Limited IPO:

  1. Finaax Capital Advisors Private Limited

Registrar of Astron Multigrain Limited IPO:

  1. Bigshare Services Private Limited

Discussion on Astron Multigrain Limited IPO:

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