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Astec LifeSciences Limited IPO (Astec IPO) Detail

Oct 29, 2009 - Nov 4, 2009        
  
   

Incorporated in 1994, Astec LifeSciences Limited is engaged in business of Agrochemicals and Pharmaceuticals. Company is primarily involved in the production of active ingredients and intermediates for agrochemicals and pharmaceutical segment. Hexaconazole, Tebuconazole, Metalaxyl and Propiconazole are some of their key products in agrochemical segment which are generally used in crop protection and Dicap is one of the key Pharmaceutical intermediate which is used in manufacture of antifungal agents.

Astec has multipurpose production facilities at 2 locations.

1. Dombivli - 1 plant (50km from Mumbai)
2. Mahad - 2 plants ( 180 kms from Mumbai)

Astec started it's first manufacturing unit in August 1994 in Dombivli, Maharashtra having an installed capacity of 120 MT for the manufacture of Dicap. In the year of 2002, Astec entered into an agreement with Behram Chemicals Private Limited for using and operating their manufacturing facilities located at Mahad Industrial Area, Maharashtra. During 2003-04 company expanded the total installed capacity of their units (Dombivli and Mahad) from 250 MT to 500 MT.

Astec has been granted ISO 9001:2000 Certificate of Assessment by International Standards Certification Pvt limited, Australia for “Design, Development, Manufacture and Supply of Organic Chemical and Intermediates for Pharmaceutical and Agrochemical Industry”.

Company Promoters:

Astec LifeSciences is promoted by 2 entrepreneurs:

1. Mr. Ashok Hiremath - aged 54 years, is a Masters of Arts from University of Oxford and Post Graduate Diploma holder in Chemical Engineering from University College, University of London.

2. Dr. P.L. Tiwari - aged 64 years, is a MBBS and MD (Medicine) from Banaras Hindu University. He is a Member of the Royal College of Physicians of the United Kingdom (MRCP) and Fellow of Royal College of Physicians, Edinburgh (FRCP). He is a practicing cardiologist in Mumbai. He was awarded UP Ratna award in January, 1996 by the Chief Minister of Maharashtra. He was also awarded L U Kirpalani Memorial Award for Life Time Achievement- 2005 by A’ward Medical Association.

Objects of the Issue:

The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital:

1. Expansion of our existing manufacturing facilities at Mahad, Maharashtra;
2. Expansion of our existing Research and Development facility at Dombivli, Maharashtra;
3. Meeting Registration expenses;
4. Meeting long-term working capital requirements;
5. General Corporate Purposes;
6. Issue Expenses.

Issue Detail:

  »»  Issue Open: Oct 29, 2009 - Nov 4, 2009
  »»  Issue Type: 100% Book Built Issue IPO
  »»  Issue Size: 7,500,000 Equity Shares of Rs. 10
  »»  Issue Size: Rs. 61.50 Crore
  »»  Face Value: Rs. 10 Per Equity Share
  »»  Issue Price: Rs. 77 - Rs. 82 Per Equity Share
  »»  Market Lot: 75 Shares
  »»  Minimum Order Quantity: 75 Shares
  »»  Listing At: BSE, NSE

Astec LifeSciences Limited IPO Grading / Rating

CARE has assigned an IPO Grade 2 to Astec LifeSciences Limited IPO. This means as per CARE, company has below average fundamentals. CARE assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Link to download CARE rating document.

Issue Subscription Detail / Current Bidding Status

Number of Times Issue is Subscribed (BSE + NSE)
As on Date & TimeQualified Institutional Buyers (QIBs)Non Institutional Investors (NIIs)Retail Individual Investors (RIIs)Employee ReservationsTotal
Shares Offered / Reserved 3,700,000  1,110,000  2,590,000  100,000  7,500,000 
 Day 1 - Oct 29, 2009 17:00 IST 0.2798 0.0000 0.3957 0.0000 0.2700 
 Day 2 - Oct 30, 2009 17:00 IST 0.5220 0.0000 0.4473 0.0270 0.4100 
 Day 3 - Nov 3, 2009 17:00 IST 0.5220 0.0000 0.4956 0.1763 0.4300 
 Day 4 - Nov 4, 2009 17:00 IST 0.6072 2.9997 2.3579 0.5010 1.5600 

Astec IPO News Alerts

  1. Monday, November 23, 2009 7:20:19 AM
    IPO Listing - Astec LifeSciences Limited
  2. Wednesday, November 18, 2009 8:59:25 AM
    IPO Allotment - Astec LifeSciences Limited
  3. Wednesday, November 4, 2009 7:57:19 AM
    Astec LifeSciences IPO fully subscribed on it's closing day
  4. Tuesday, November 3, 2009 7:53:38 AM
    Astec LifeSciences IPO subscribed 0.43 times on it's day 3
  5. Friday, October 30, 2009 9:26:47 AM
    Astec LifeSciences IPO subscribed 0.41 times on it's day 2
  6. Thursday, October 29, 2009 8:05:17 AM
    Astec LifeSciences IPO subscribed 0.27 times on it's day 1
  7. Friday, October 23, 2009 9:46:02 AM
    Upcoming IPO - Astec LifeSciences Limited

Astec IPO Rating

   Rating: 3.3
107
3.3
Rating:Rated 3.3 stars

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   IPO Reviews  |  IPO Gradings

Astec IPO Listing Date

Listing Date:Wednesday, November 25, 2009
BSE Scrip Code:533138
NSE Symbol:ASTEC
Listing In:B Group of Securities
Sector:Agrochemicals
ISIN:INE563J01010
Issue Price:Rs. 82.00 Per Equity Share
Face Value:Rs. 10.00 Per Equity Share

Listing Day Trading Information

BSE
Issue Price:Rs. 82.00
Open:Rs. 85.55
Low:Rs. 80.00
High:Rs. 90.70
Last Trade:Rs. 83.90
Volume:12,260,573
NSE
Rs. 82.00
Rs. 83.00
Rs. 83.00
Rs. 90.70
Rs. 84.00
13,242,907

Astec IPO Prospectus

Company Contact Information

Registered Office :
    5-5A, 4th floor,
    Kamanwala Chambers, Sir P. M. Road,
    Fort, Mumbai - 400001
Phone: +91-22-2261 8212-13
Fax: +91-22-2261 8289
Email: ipo@astecls.com
Website: http://www.astecls.com

Astec IPO Registrar

Bigshare Services Pvt. Ltd   »  Report
   Bigshare Services Pvt Ltd E-2 & 3,
   Ansa Industrial Estate, Saki-Vihar Road,
   Sakinaka, Andheri(E), Mumbai - 400 072

Phone: 91-22-40430200
Fax: 91-22-2847 5207
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Astec IPO Lead Manager(s)


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Astec IPO Messages (Astec IPO Comments)

  Post New Message ...  

104. Rama  Dec 19, 2009 2:24:32 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Rama's - IPO Comments

Astec 1 Yr price target: Rs. 50-55

 

103. Ravi, Bangalore  Dec 2, 2009 3:15:56 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Ravi, Bangalore's - IPO Comments

Astec Lifescience 90- Target 88-91 zone, 94-95 zone. Stop-loss 82.9. Buy in 91-88 range.

Fundamentally over-valued. Hence, stop-loss is important.

 

102. NAGESH K S  Nov 26, 2009 2:05:24 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
NAGESH K S's - IPO Comments

All Life Sciens stocks trading at high p/e this will all outperforma the market in the near future.

 

101. Ravi, Bangalore  Nov 25, 2009 2:27:47 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Ravi, Bangalore's - IPO Comments

As it is small issue size IPO, it is defying gravitation power. At least in near-term, fundamental won't catch up.

It is moving on technical factors (demand & supply). Keep stop-loss & gamble. Playing without stop-loss is like drving without brake.

 

100. Rama  Nov 25, 2009 1:59:11 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Rama's - IPO Comments

My final advice: Sell astec... This stock is not for investment...

 

99. Ravi, Bangalore  Nov 25, 2009 1:01:17 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Ravi, Bangalore's - IPO Comments

Modify intra-day stop-loss to 86.5 as it has tested 86.8 thrice since morning.

 

98. Ravi, Bangalore  Nov 25, 2009 12:57:18 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Ravi, Bangalore's - IPO Comments

Astec 87.2- Above 87.2, break-out. Target 88, 89, 89.5 Stop-loss 86.9 (Intra-day)

 

97. Astec  Nov 25, 2009 9:51:52 AM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Astec's - IPO Comments

Astec will list @ 73

 

96. Rama  Nov 25, 2009 9:46:56 AM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Rama's - IPO Comments

Sell........Sell..........Sell......
There is no value for shares API manufacturers. Uncertain business.
If you can take some risk and want to ride some operator action, then you can hold for 2-3 days(See whether this follows thinksoft trend).
Discl: I dont have astec shares.

 

95. prakash ipo & kings  Nov 24, 2009 8:53:31 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
prakash ipo & kings's - IPO Comments


It may list Rs.88 to Rs.90.

then further its trend will be up side.

H A P P Y - L I S T I N G .

 

94. rama  Nov 24, 2009 3:41:34 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
rama's - IPO Comments

Astec may give Rs. 1 listing gain. Adviced to sell above 84/. buy below 50/

 

93. Ravi, Bangalore  Nov 24, 2009 2:15:10 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Ravi, Bangalore's - IPO Comments

92. Rama,

Cheap stocks becomes more cheap and expensive stocks become further expensive.

Just because you pick-up value stocks, it does not guarantee safety. Stock market, by its nature itself is risky whether you buy value stocks or growth stocks. At investors cash comfortable level, stop-loss is required.

 

92. Rama  Nov 24, 2009 9:43:37 AM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Rama's - IPO Comments

To 89. Ravi,
You are correct. But it is not my job to suggest when DLF etc stocks makes new highs. Because I dont invest based on their ability ot make new highs. I invests if a stock is available at reasonable PE. Some stocks may trade at high PE(since stocks valued with p/book, PEG, EV/mCap etc). But when more more stocks list from the same sector, people go for PE comparison... otr atleast that is what I do.... I may miss some good growth stocks, but in bad times my loss also limited!!!! from my investing strategy I will remain breakeven till sensex level of 11800. So that is fine with me and is suitable for my risk profile

 

91. BHIMANI  Nov 23, 2009 7:19:24 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
BHIMANI's - IPO Comments

INE563J01010
PRICE: 82/- Rs.
BSE ~ 533138
NSE ~ ASTEC
LISTING CEREMONY ON 25th NOVEMBER, WEDNESDAY.

 

90. ALI BHOY SAKAR BAZAR WALA  Nov 23, 2009 5:36:12 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
ALI BHOY SAKAR BAZAR WALA's - IPO Comments



LISTING DATE IS OUT

IT IS ON

25 th NOV. Wednesday
.

 

89. Ravi, Bangalore  Nov 23, 2009 5:27:38 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Ravi, Bangalore's - IPO Comments

88. Rama

Investment in stock market by nature itself is risky. However, what deterrs is huge volatility. Scam tainted / Operators stock lose 90% or more.

If any fundamental value is there & SEBI is alert (Exchanges are equipped with functional stock watch systems), it can prevent such volatility.

SEBI can restict block money flowing to market (SEBI / RBI have experitse & tools to verify fund-flow).

'A' Group companies falling more than 75% is a failure of regulator.

Investors also should be vary. Investors should not apply to high PE multiple IPOs. They should not chase stocks at high PE multiple in secondary market. To manage market risk, stop-loss is necesssary.

Eg: Had any investor not put stop-loss, it is tough to imagine when Satyam would hit new high! Even can you tell when frontline stocks like DLF, Unitech would cross their respective new highs? Even long-term investors lose money.

 

88. rupesh bharatwala  Nov 23, 2009 4:17:54 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
rupesh bharatwala's - IPO Comments

can any one tell me about listing date of astec life science ltd

 

87. Rama  Nov 23, 2009 4:15:36 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
Rama's - IPO Comments

To Ravi, 87:
Eventhough your points looks reasonable, it is difficult to practise. SEBI cannot watch each script everyday. that is why A, B, Z, T etc stock catogories aree there, also associated circuit filters. Investors has to take due care before trading. Because stock market is part of free capital market. So risk will always be very high. No risk..means one have to go for bank fixed deposits.
After reading your views it appears that after IPO, share price should not go below issue price or shouldnot go above issue price!!!!

 

86. rama  Nov 21, 2009 9:53:22 AM IST |   Reply  |  I Like It.  Like  |  Report Abuse
rama's - IPO Comments

Chithorgarh staff should remove mesages like No 86, which is simply waste of time. Nobody snatched money from us. It is WE who have taken risk and applied for IPO's like NHPC. Nobody else can be blame for that....
To Chithorgarh staff.....
Please REMOVE JUNK MESSAGES.

 

85. K V Subba Rao  Nov 18, 2009 12:20:35 PM IST |   Reply  |  I Like It.  Like  |  Report Abuse
K V Subba Rao's - IPO Comments

allotment out 640 shares to full application prem is rs.4.5 enjoy listing listing date is also out 27 nov

 

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