| Basis of Allotment |
| THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT. THIS DOES NOT CONSTITUTES AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. |
| THIS PUBLIC ANNOUNCEMENT IS NOT INTENDED FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY OUTSIDE INDIA. |
|
| ASTRON MULTIGRAIN LIMITED |
| CIN: U15549GJ2018PLC103488 |
Our Company was incorporated as "Astron Multigrain Private Limited" as a private limited company under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated August 1, 2018, issued by Registrar of Companies, Central Registration Centre. Thereafter, our Company was converted from a private limited company to public limited company pursuant to special resolution passed in the Extra-Ordinary General Meeting of the company dated October 16, 2023 and consequently, the name of our Company was changed from "Astron Multigrain Private Limited" to "Astron Multigrain Limited" and a fresh certificate of incorporation dated October 31, 2023 was issued to our Company by the Registrar of Companies, ROC Ahmedabad. The Corporate Identification Number of our Company is U15549GJ2018PLC103488.
| Registered Office: Plot No. 17 To 21, Near Ram Hotel, Chordi, Gondal, Rajkot, Gujarat-360311, India. |
| Company Secretary and Compliance Officer: Ms. Shivani Garg |
| Website: www.astronmultigrain.co.in E-Mail: cs@astronmultigrain.co.in Telephone No: +91 88495 06534 |
| PROMOTERS OF OUR COMPANY: MR. JENISH PARSHOTTAMBHAI KHUNT AND MS. POONAM JENISH KHOONT |
THIS ISSUE IS BEING MADE THROUGH FIXED PRICE ISSUE PROCESS, IN TERMS OF REGULATION 229 (1) OF CHAPTER IX OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2018 (THE "SEBI (ICDR) REGULATIONS"), AS AMENDED READ WITH RULE 19(2)(B) OF SECURITIES CONTRACTS (REGULATION) RULES, 1957, AS AMENDED. THE EQUITY SHARES OF THE COMPANY ISSUED THROUGH THE PROSPECTUS ARE PROPOSED TO BE LISTED ON SME PLATFORM OF BSE. FOR THE PURPOSE OF THE OFFER, THE DESIGNATED STOCK EXCHANGE SHALL BE ("BSE SME").
| BRIEF DESCRIPTION OF THE BUSINESS OF THE COMPANY |
Established in year 2018, the company is into manufacturing of instant noodles. We manufacture noodles on contract manufacturing basis for marketer who sells the product manufactured by us under their trade name. We also manufacture noodles for own brand sales which is sold under trade name "Astron's Swagy Noodles". Our instant noodles is available in one variant -1. Mast Masala (Classic flavour). Our Company is also engaged in manufacturing of noodle bhujiya and papad. Instant Noodles are pre-cooked noodles, sold in dried blocks with flavouring powder and/or seasoning oil. The "instant" aspect comes from the fact that they only require hot water to rehydrate and cook, significantly reducing preparation time compared to traditional noodles. Ready to eat noodles are making a niche for itself based on its popularity for being tasty and quick to make.
For further details, please refer to the chapter titled "Business Overview'' beginning on page no. 118 of the Prospectus.
| BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFER OF 29,20,000 EQUITY SHARES OF FACE VALUE OF RS 10/- EACH (THE "EQUITY SHARES") OF ASTRON MULTIGRAIN LIMITED ("OUR COMPANY" OR "AML" OR "THE ISSUER") AT PRICE OF RS. 63/- PER EQUITY SHARE FOR CASH, AGGREGATING TO RS. 1,839.60 LAKHS COMPRISING OF FRESH OFFER OF 23,40,000 EQUITY SHARES AGGREGATING TO RS 1,474.20 LAKHS ("FRESH OFFER") AND AN OFFER FOR SALE OF 5,80,000 EQUITY SHARES BY PROMOTER ("SELLING SHAREHOLDERS") AGGREGATING TO RS. 365.40 LAKHS ("OFFER FOR SALE") ("PUBLIC OFFER"). THE OFFER INCLUDES A RESERVATION OF 1,48,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH, AT AN OFFER PRICE OF RS. 63/- PER EQUITY SHARE FOR CASH, AGGREGATING RS. 93.24 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE OFFER (THE "MARKET MAKER RESERVATION PORTION"). THE PUBLIC OFFER LESS MARKET MAKER RESERVATION PORTION I.E. NET OFFER OF UP TO 27,72,000 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH, AT AN OFFER PRICE OF RS. 63/- PER EQUITY SHARE FOR CASH, AGGREGATING UPTO RS. 1,746,36 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET OFFER". THE PUBLIC OFFER AND NET OFFER WILL CONSTITUTE 33.95% AND 33.23%, RESPECTIVELY OF THE POST-OFFER PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY.
| THE FACE VALUE OF THE EQUITY SHARE IS RS. 10 EACH AND OFFER PRICE IS RS. 63 EACH |
| THE OFFER PRICE IS 6.3 TIMES OF THE FACE VALUE OF THE EQUITY SHARE. |
| OFFER PROGRAMME | OPENED ON: DECEMBER 1, 2025, MONDAY |
| CLOSED ON: DECEMBER 3, 2025, WEDNESDAY |
| RISKS TO INVESTORS |
| Summary description of key risk factors based on materiality |
1. The company relies on a limited number of customers for its sales, and the loss of any major customer could adversely impact our revenue and profitability.
2. The company relies on a limited number of suppliers for product procurement, and the loss of any key supplier could impact our business operations.
3. Our Company, Promoter, Directors, KMP, SMP and Group Company are involved in certain legal proceedings. Any adverse decision in such proceedings may render us/them liable to liabilities/penalties and may adversely affect our business and results of operations.
4. Our business is primarily dependent upon a continuing relationship with super stockist for sales of our products. Any reduction or interruption in the business of these super stockists or a substantial decrease in orders placed by these super stockists may have an adverse impact on the revenues and operations of our Company.
5. The inappropriate handling, processing or storage of our raw materials or products, or spoilage of and damage to such raw materials and products, or spoilage of and damage to such raw materials and products, or any real or perceived contamination in our products, could subject us to regulatory action, damage our reputation and have an adverse effect on our business, results of operations and financial condition.
6. Failure to maintain stringent quality and safety standards may result in regulatory action, product recalls, or reputational damage.
7. We depend on a limited number of States for a significant portion of our revenue from operations. The loss of any of our major customer in these States due to any adverse development or significant reduction in business from our major customer may adversely affect our business, financial condition, results of operations and future prospects.
8. If our Company is unable to protect its intellectual property, or if our Company infringes on the intellectual property rights of others, our business may be adversely affected.
9. Our Company has reported certain negative cash flows from its investing activity and financing activity, details of which are given below. Sustained negative cash flows could impact our growth and business.
10. Our Registered Office and Manufacturing Unit from where we operate is not owned by us but taken on Lease basis. Our inability to renew the lease agreement or any adverse impact on the title or ownership rights of our owner/landlord in relation to these premises may impede our operations.
For details refer to chapter titled "Risk Factors" beginning on page 29 of the Prospectus.
1. The Average Cost of acquisition of Equity Shares held by our Promoters is as follows:
| Sr. No | Name | No. of Equity Shares | Average cost of acquisition per Equity Share (in Rs.) |
| 1 | Jenish Parshottambhai Khunt* | 6009900 | 3.93 |
| 2 | Poonam Jenish Khoont** | 250000 | 24.20 |
and the offer price is Rs.63/- per equity share.
* Promoter and Selling Shareholder
** Promoter
2. The Price/ Earnings ratio based on Diluted EPS for Fiscal 2025 for the company at the offer price is 17.07.
3. Weighted Average Return on Net worth for Fiscals 2025, 2024, and 2023 is 24.45%.
4. The Weighted average cost of acquisition of all Equity Shares transacted in the last one year, 18 months and three years from the date of Prospectus is given below:
| Period | Weighted Average Cost of Acquisition | Issue Price (Rs. 63/-) being "X" times of WACA | Range of acquisition price: Lowest Price - Highest Price (In Rs.) |
| Last 1 year | Nil | Nil | Nil |
| Last 18 months | Nil | Nil | Nil |
| Last 3 years | 6.65 | 9.47 | 0-50 |
5. The Weighted average cost of acquisition (WACA) compared to floor price and cap price
| Past allotment/ secondary transaction | Weighted average cost of acquisition (Rs. per Equity Shares) | Issue Price (Rs. 63/-) being ‘9.47' times of WACA |
| Weighted average cost of acquisition of primary issuances as per point A | NA | NA |
| Weighted average cost of acquisition for secondary transactions as per point B | NA | NA |
| Weighted average cost of acquisition of primary issuances/ secondary transactions as per paragraph C | 6.65 | 9.47 |
| PROPOSED LISTING: DECEMBER 8, 2025* |
The Offer is being made through the Fixed Price Process in terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCCR"), this offer is being made for at least 25% of the post offer paid up equity share capital of the company. This offer is being made through Fixed Price Process in accordance and in compliance with Chapter IX and other applicable provisions of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time ("SEBI ICDR Regulations, 2018"), wherein a minimum 50% of the Net Offer is allocated for Individual Investors and the balance shall be offered to Individual applicants other than Individual Investors. For further details please refer the chapter titled "Terms of the Issue' beginning on page 257 of the prospectus. All potential investors were required to participate in the Otter only through an Application Supported by Blocked Amount ("ASBA") process including UPI mode (as applicable) by providing details of the respective bank accounts and / or UPI IDs, in case of UPI Applicants, if applicable, which will be blocked by the Self- Certified Syndicate Banks ("SCSBs") for the same. For further details, please refer to chapter titled "Issue Procedure" beginning on page 268 of the Prospectus. A copy of the Prospectus has been filed with the Registrar of Companies, Ahmedabad for filling in accordance with the Section 26 of the Companies Act, 2013.
The investors are advised to refer to the Prospectus for the full text of the Disclaimer clause pertaining to BSE. For the purpose of this Offer, the designated Stock Exchange will be the BSE Limited. The trading is proposed to commence on Monday, December 8,2025*
* Subject to receipt of the listing and trading approval from SME Platform of BSE Limited i.e. BSE SME.
| SUBSCRIPTION DETAILS |
The issue was opened on Monday, December 1, 2025 and closed on Wednesday December 3, 2025.
The offer received 773 Applications for 35,84,000 Equity Shares (before technical rejections) resulting in 1.23 times subscription (including reserved portion of market maker). The details of the Applications received in the offer from various categories are as under (before rejections):
Details of Applications Received:
| Sr. No. | Category | Gross | Less: Rejections | Valid | |||
| Applications | Equity Shares | Applications | Equity Shares | Applications | Equity Shares | ||
| 1 | Non Institutional Investors | 93 | 720000 | 4 | 24000 | 89 | 696000 |
| 2 | Individual Investors | 679 | 2716000 | 8 | 32000 | 671 | 2684000 |
| 3 | Reserved for Market Maker | 1 | 148000 | 0 | 0 | 1 | 148000 |
| Total | 773 | 3584000 | 12 | 56000 | 761 | 3528000 | |
The Basis of Allotment was finalized in consultation with Designated Stock Exchange - BSE on December 4,2025.
1. Allotment to Market Maker (After Rejections):
The Basis of Allotment to the Market Maker, who have applied at Offer Price of Rs.63/- per Equity Share, was finalised in consultation with BSE. The Category has been subscribed by 1 00 times. The total number of Equity Share Allotted in this category is 1,48,000 Equity Shares. The Category wise details of the Basis of allotment are as under:
| Sr No | No. of Shares applied for (Category wise) | Number of applications received | % to total | Total No. of Shares applied in each category | % to total | Proportionate shares available | Allocation per Applicant | Ratio of allottees to applicants | Number of successful applicants (after rounding) | % to total | Total No. of shares allocated/ allotted | % to total | Surplus/ Deficit (13)-(7) | ||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | Before Rounding off (8) | After Rounding off (9) | (10) | (11) | (12) | (13) | (14) | (15) | |
| 1 | 148000 | 1 | 100.00 | 148000 | 100.00 | 148000 | 148000 | 148000 | 1 | 1 | 1 | 100.00 | 148000 | 100.00 | 0 |
| GRAND TOTAL | 1 | 100.00 | 148000 | 100.00 | 148000 | 1 | 100.00 | 148000 | 100.00 | 0 | |||||
2. Allotment to Individual Investors (After Rejections):
The Basis of Allotment to the Individual Investors, who have applied at offer Price of Rs.63/- per Equity Share, was finalised in consultation with BSE. The Category has been subscribed by 1.22 times. The total number of Equity Share allotted in this category is 22,04,000 Equity Shares to 551 successful allottees. The Category wise details of the Basis of allotment are as under:
| Sr No | No. of Shares applied for (Category wise) | Number of applications received | % to total | Total No. of Shares applied in each category | % to total | Proportionate shares available | Allocation per Applicant | Ratio of allottees to applicants | Number of successful applicants (after rounding) | % to total | Total No. of shares allocated/ allotted | % to total | Surplus/ Deficit (13)-(7) | ||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | Before Rounding off (8) | After Rounding off (9) | (10) | (11) | (12) | (13) | (14) | (15) | |
| 1 | 4000 | 671 | 100.00 | 2664000 | 100.00 | 2204000 | 4000 | 4000 | 551 | 671 | 551 | 100.00 | 2204000 | 100.00 | 0 |
| GRAND TOTAL | 671 | 100.00 | 2684000 | 100.00 | 2204000 | 551 | 100.00 | 2204000 | 100.00 | 0 | |||||
3. Allotment to Non Institutional Investors (After Rejections):
The Basis of Allotment to the Non-Institutional Investors, who have applied at offer Price of Rs. 63./- per Equity Share, was finalised in consultation with BSE. The Category has been subscribed by 1.23 times. The total number of Equity Share allotted in this category is 5,66,000 Equity Shares to 89 successful allottees. The Category wise details of the Basis of allotment are as under:
| Sr No | No. of Shares applied for (Category wise) | Number of applications received | % to total | Total No. of Shares applied in each category | % to total | Proportionate shares available | Allocation per Applicant | Ratio of allottees to applicants | Number of successful applicants (after rounding) | % to total | Total No. of shares allocated/ alloted | % to total | Surplus/ Deficit (13)-(7) | ||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | Before Rounding off (8) | After Rounding off (9) | (10) | (11) | (12) | (13) | (14) | (15) | |
| 1 | 6000 | 67 | 75.28 | 402000 | 57.76 | 402000 | 6000.0000 | 6000 | 1 | 1 | 67 | 75.28 | 402000 | 70.77 | 0 |
| 2 | 8000 | 11 | 12.36 | 88000 | 12.64 | 70617 | 6419.7300 | 6000 | 1 | 1 | 11 | 12.36 | 66000 | 11.62 | -4617 |
| 8000 | 0.00 | 0.00 | 2000 | 2 | 11 | 0.00 | 4000 | 0.70 | 4000 | ||||||
| 3 | 16000 | 8 | 8.99 | 128000 | 18.39 | 64790 | 8098.7500 | 8000 | 1 | 1 | 8 | 8.99 | 64000 | 11.27 | -790 |
| 4 | 18000 | 1 | 1.12 | 18000 | 2.59 | 8519 | 8519.0000 | 8000 | 1 | 1 | 1 | 1.12 | 8000 | 1.41 | -519 |
| 5 | 20000 | 1 | 1.12 | 20000 | 2.87 | 8938 | 8938.0000 | 10000 | 1 | 1 | 1 | 1.12 | 10000 | 1.76 | 1062 |
| 6 | 40000 | 1 | 1.12 | 40000 | 5.75 | 13136 | 13136.0000 | 14000 | 1 | 1 | 1 | 1.12 | 14000 | 2.46 | 864 |
| GRAND TOTAL | 89 | 100.00 | 696000 | 100.00 | 568000 | 89 | 100.00 | 568000 | 100.00 | 0 | |||||
This Issue is being made through Fixed Price process in accordance and compliance with Chapter IX and other applicable provisions of SEBIICDR Regulations wherein a minimum 50% (Fifty Percent) of the Net offer is allocated for Individual Investors and the balance shall be offered to Non Institutional Investors applicants other than Individual Investors including corporate bodies or institutions, QIBs and Non-Institutional Investors. However, if the aggregate demand from the Individual Investors is less than 50% (Fifty Percent), then the balance Equity Shares in that portion will be added to the Non Institutional Investor portion offered to the remaining investors including QIBs and NIIs and vice-versa subject to valid applications being received from them at or above the otter Price. Additionally, if the Individual Investors category is entitled to more than 50% (Fifty Percent) on proportionate basis, the Individual Investors shall be allocated that higher percentage.
The Board of Directors of our Company at its meeting held on December 4,2025 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being Bombay Stock Exchange of India Limited and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBS have been dispatched/mailed for unlocking of funds and transfer to the Public Issue Account on or before December 5,2025 and In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares allotted to the successful allottees shall be uploaded on or before November 5,2025 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of obtaining the listing and trading approval from Bombay Stock Exchange of India Limited and the trading of the Equity Shares is expected to commence on December 8,2025.
Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated November 25,2025 ("Prospectus").
| INVESTORS, PLEASE NOTE |
The details of the allotment made would also be hosted on the website of the Registrar to the Issue, Bigshare Services Private Limited at www.bigshareonline.com
All future correspondence in this regards may kindly be addressed to the Registrar to the Issue quoting full name of the First/Sole applicants, serial number of the Application Form, number of shares applied for and Bank Branch where the application had been lodge and payment details at the address of the Registrar given below;
 |
BIGSHARE SERVICES PRIVATE LIMITED |
| SEBI Registration Number: INR000001385 | |
| Address: Office No. S6-2, 6th floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri East, Mumbai- 400093, Maharashtra | |
| Tel. Number: 022 - 6263 8200 Email Id: ipo@bigshareonline.com | |
| Investors Grievance Id: investor@bigshareonline.com Website: www.bigshareonline.com | |
| Contact Person: Mr. Aniket Seebag CIN: U99999MH1994PTC076534 |
| On behalf of Board of Directors | |
| FOR, ASTRON MULTIGRAIN LIMITED | |
| Sd/- | |
| Place: Rajkot, Gujarat | Shivani Garg |
| Date: December 5,2025 | Company Secretary & Compliance Officer |
Disclaimer: Astron Multigrain Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public Issue of its Equity Shares the Prospectus dated November 25, 2025 has been filed with the Registrar of Companies, Ahmedabad and thereafter with SEBI and the Stock Exchanges. The Prospectus is available on the website of the SEBI at www.sebi.gov.in, website of BSE at www.bseindia.com and is available on the websites of the LM at www.finaaxcapital.com. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the Prospectus including the chapter titled "Risk Factors" beginning on page 29 of the Prospectus.
The Equity Shares have not been and will not be registered under the U S. Securities Act of 1933, as amended (the "Securities Act") or any state securities laws in the United States, and unless so registered, and may not be issued or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U.S. State Securities laws. The Equity Shares are being issued and sold outside the United States in ‘offshore transactions' in reliance on Regulation "S" under the Securities Act and the applicable laws of each jurisdiction where such issues and sales are made. There will be no public offering in the United States.
|
Close
|