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 Open: Oct 29, 2009 - Nov 04, 2009
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
Astec IPO News Alerts
Astec IPO Listing Date
Listing Day Trading Information
Company Contact Information
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Astec IPO Messages (Astec IPO Comments)
Astec 1 Yr price target: Rs. 50-55
Astec Lifescience 90- Target 88-91 zone, 94-95 zone. Stop-loss 82.9. Buy in 91-88 range.
All Life Sciens stocks trading at high p/e this will all outperforma the market in the near future.
As it is small issue size IPO, it is defying gravitation power. At least in near-term, fundamental won't catch up.
My final advice: Sell astec... This stock is not for investment...
Modify intra-day stop-loss to 86.5 as it has tested 86.8 thrice since morning.
Astec 87.2- Above 87.2, break-out. Target 88, 89, 89.5 Stop-loss 86.9 (Intra-day)
Astec will list @ 73
Astec may give Rs. 1 listing gain. Adviced to sell above 84/. buy below 50/
To 89. Ravi,
can any one tell me about listing date of astec life science ltd
To Ravi, 87:
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....
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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