Astonea Labs

 

Astonea Labs

Astonea Labs, established in April 2017 and headquartered in Panchkula, Haryana, is a pharmaceutical and cosmeceutical manufacturing company. The company specializes in producing a diverse range of products, including antibiotics, antihistamines, antidiabetics, cardiovascular drugs, gynecological treatments, analgesics, antifungals, multivitamins, and various skincare, dental, and hair care items. Operating from a 7,500-square-meter facility, Astonea Labs adheres to stringent quality standards, holding certifications such as WHO-GMP, ISO 9001, ISO 22000, CE, PETA, HALAL, and ECO CERT. The company offers contract development and manufacturing (CDMO) services to both domestic and international clients, focusing on innovation and sustainable practices.

Strengths

• Diverse product portfolio spanning pharmaceuticals and cosmeceuticals.
• State-of-the-art manufacturing facility with multiple quality certifications.
• Experienced management team with a focus on innovation.
• Growing presence in both domestic and international markets.
• Recent IPO to fund expansion and enhance production capabilities.

Risks

• Exposure to regulatory changes in the pharmaceutical industry.
• Dependence on third-party contracts for a significant portion of revenue.
• Competition from established players in the pharmaceutical and cosmetic sectors.
• Fluctuations in raw material prices are impacting production costs.
• Challenges in maintaining quality standards across diverse product lines.

Astonea Labs LTD : your trusted partner for Pharmaceutical and cosmeceutical solutions

Astonea Labs Ltd is a distinguished manufacturing company with a rich legacy of 35 years in the manufacturing industry. Our headquarters are located in Haryana, India, a region renowned for its industrial prowess. We take immense pride in our unwavering dedication to customer satisfaction and our flexibility in providing production solutions that catalyze our clients' growth and success.

Our core business revolves around being a “Quality Conscious” third-party manufacturer specializing in a diverse array of pharmaceutical and cosmetic products. This includes Tablets, Capsules, Softgels, Powders, Ointments, Creams and Lotions, all of which adhere to the rigorous standards of the Drug and Cosmetics industries. Our mission is firmly grounded in our aspiration to consistently deliver premium-quality cosmeceutical and pharmaceutical products that serve and enrich our global community.

Astonea Labs Ltd proudly operates in Village Haripur (Raipur Rani), located in the Panchkula district of Haryana. Our strategic location allows us to efficiently cater to both domestic and international markets. Our state-of-the-art manufacturing facility sprawls across an expansive 16,000 square meters, meticulously designed and operated in strict conformity with ISO standards.

With a dedicated pharmaceutical personnel and standardized practices, Astonea has been successful in attaining national and international accreditations and building trust on Efficacy, Safety & Quality. The organization is certified with WHO GMP, ISO 9001, ISO 22000, CE, PETA, HALAL, ECO CERT etc. In essence, Astonea Labs Ltd stands as a beacon of quality, innovation and customer-centric manufacturing

As we continue to pioneer industry benchmarks in terms of quality and production excellence, we invite you to explore the countless possibilities of partnership with us. Whether you are in the pharmaceutical or cosmetic industry, we are your trusted partner for achieving your manufacturing goals and exceeding your quality expectations. Join us on this journey of excellence as we make a positive impact on the world of pharmaceuticals and cosmetics.

The Leela gmp

The Leela

Leela Hotels IPO is to open on May 26, 2025. It is a Mainboard IPO that will raise ₹3500 crores. The Leela Hotels Services IPO price band is fixed at ₹413 to ₹435 with a market lot of 34 Shares.

The Leela Hotels had the name of Scholss Banglore Limited, and was established in 2019. They own, run, manage, and build high-end hotels and resorts, offering top-quality stays and personalized service based on Indian hospitality. As of May 31, 2024, the company is one of the largest luxury hotel groups in India by the number of rooms, with 12 hotels and 3,382 rooms. Their properties include The Leela Palaces, Hotels, and Resorts. Schloss Bangalore Limited is backed by Brookfield, one of the world’s biggest investment firms, through its private equity funds.

They currently operate a residential club in a premium residential building in Mumbai and are planning to grow this line of business further. Additionally, it aims to expand into Leela-branded residences for sale, located next to the Leela hotels its plan to develop in the future

About Leela Hotels

Incorporated in 2019, Schloss Bangalore operates as India’s only institutionally owned and managed pure-play luxury hospitality company under “The Leela” brand. Renowned globally, “The Leela” ranked among the top three hospitality brands in 2023 and 2024, following consecutive #1 rankings in 2020 and 2021 by Travel + Leisure World’s Best Awards. Established in 1986, the brand has a strong legacy in Indian luxury hospitality, with over 250 awards earned since January 2021. The portfolio includes 12 operational hotels with 3,382 keys, making it one of India’s largest luxury hospitality entities by key count. Strategically positioned across 10 key Indian business and leisure destinations, it represents 18% of luxury keys in these markets. Plans are underway to expand with eight new properties, adding 833 keys by 2028. This growth includes modern palaces, resorts, and ventures into wildlife, spiritual, and heritage tourism, broadening its geographic reach and diversifying its offerings.

The Leela

 

The Leela

About Leela Hotels

Incorporated in 2019, Schloss Bangalore operates as India’s only institutionally owned and managed pure-play luxury hospitality company under “The Leela” brand. Renowned globally, “The Leela” ranked among the top three hospitality brands in 2023 and 2024, following consecutive #1 rankings in 2020 and 2021 by Travel + Leisure World’s Best Awards. Established in 1986, the brand has a strong legacy in Indian luxury hospitality, with over 250 awards earned since January 2021. The portfolio includes 12 operational hotels with 3,382 keys, making it one of India’s largest luxury hospitality entities by key count. Strategically positioned across 10 key Indian business and leisure destinations, it represents 18% of luxury keys in these markets. Plans are underway to expand with eight new properties, adding 833 keys by 2028. This growth includes modern palaces, resorts, and ventures into wildlife, spiritual, and heritage tourism, broadening its geographic reach and diversifying its offerings.

About the industry

The Indian hospitality industry, and specifically the luxury hospitality segment, is positioned for measured growth. In 2023, travel and tourism contributed 6.5% to India’s GDP, below the global average of 9.1%, suggesting potential for further development. The organised hotel sector in India consists of approximately 375,000 keys, of which only around 29,000 are in the luxury category. This equates to 23 luxury keys per million people, significantly lower than countries such as Australia (973) and Thailand (690), indicating under-penetration in this segment.

Between FY24 and FY28, demand for luxury rooms is projected to grow at a compound annual growth rate (CAGR) of 10.6%, while supply is expected to grow at a slower pace of 5.9%. As a result, RevPAR (Revenue per Available Room) for the luxury segment, which was more than twice the industry average in FY24, is expected to increase by around 1.5 times by FY28. This growth outlook is supported by macroeconomic factors such as a projected doubling of India’s GDP by 2030, increased infrastructure investment, rising domestic and international tourism, and evolving consumer preferences. Institutional investment may also support scalability, based on international precedents.

Strengths

• Leading luxury brand with global appeal and rich heritage
• Iconic-owned hotels in high-barrier-to-entry luxury markets
• Comprehensive luxury ecosystem diversifying revenue across hospitality services
• Proven operational efficiency through an active asset management approach
• Strong focus on sustainability and renewable energy initiatives
• Experienced senior management and a well-diversified distinguished board
• Supported by Brookfield, a global investor with local expertise

Risks

• Deterioration in brand quality can adversely affect operations and reputation.
• Heavy revenue dependence on five flagship hotels affects financial stability.
• Persistent losses from prior years risk future financial health sustainability.
• Negative cash flow history challenges future operations and business continuity.
• Substantial debts require significant cash flows for servicing and growth.
• Exposure to risks from hotel renovations and delayed new constructions.
• Regulatory complexities may impact compliance, operations, and market positioning.
• Cyclical and seasonal industry fluctuations significantly affect financial performance.

Key strategies

• Optimising existing assets: The company plans to improve the performance of current properties by increasing room yields, enhancing food and beverage operations, and implementing cost control measures. Select properties will be upgraded to increase room inventory and add high-yield features such as spas and clubs.
• Portfolio expansion: New hotel developments are proposed in domestic markets with tourism or religious significance, including Agra, Srinagar, Ayodhya, Ranthambore, and Bandhavgarh. International growth will be considered in regions with high Indian tourist activity, such as the Maldives and Dubai. Project selection will be based on expected return on capital and alignment with brand standards.
• Hotel Management Agreements (HMA): The company will seek to expand through management contracts, which require less capital investment compared to ownership. These contracts will be structured to include fixed and performance-linked fees, with brand and operational control maintained from early stages of development.
• Brand extensions and diversification: New revenue sources will be pursued through branded serviced residences and luxury apartments, as well as the introduction of private members’ clubs in key cities. These initiatives are intended to utilise existing brand recognition while targeting adjacent customer segments.
• Capital allocation and efficiency: Growth initiatives will be undertaken with a focus on capital efficiency. This includes evaluating ownership versus management models for each project, targeting high-yield projects, and maintaining financial discipline. Cost management and operational systems will also be areas of continued focus.

Aegis Vopak Terminals

 

Aegis Vopak Terminals

About Aegis Vopak Terminals

Aegis Vopak Terminals is India’s largest third-party owner and operator of LPG and liquid product tank storage terminals, with 1.5 million cubic meters of liquid storage and 70,800 MT of LPG capacity as of December 31, 2024. It accounts for 11.5% of India’s LPG and 25.5% of third-party liquid storage capacity, with terminals at five key ports handling major import volumes. Backed by promoters Aegis Logistics and Vopak India BV, the company benefits from deep industry expertise and global networks. Its two main segments include gas terminals for LPG and liquid terminals for petroleum, chemicals, and vegetable oils.

Strengths

• Largest third-party tank storage operator in India for LPG and liquids by capacity.
• Strategic port locations handle 61% of India’s LPG and 23% of liquid imports.
• Backed by strong promoters: Aegis Logistics and Royal Vopak with global expertise.
• Proven track record in infrastructure expansion and storage throughput efficiency.
• ESG-focused operations with advanced safety and sustainability systems

Risks 

• High revenue dependence on top 10 customers, posing concentration risk
• Operational risks from hazardous material handling and port-based vulnerabilities.
• Lease agreements for some terminals are expired and not yet renewed.
• Insurance coverage may not fully protect against potential operational losses
• Potential promoter conflict could disrupt operations due to JV structure

·       Aegis Vopak Terminals Ltd., a strategic joint venture between Aegis Logistics Limited India and Royal Vopak of the Netherlands, operates a necklace of 20 tank terminals across 6 key Indian ports like Haldia, Kandla, Pipavav, JNPT(upcoming), Mangalore, and Kochi. With a robust storage capacity of 1.7 million cbm for Liquid storage, and 201K MT for LPG, our operations form a crucial link in the storage and movement of LPG, oil, liquid chemicals, petrochemicals, gases, Bitumen and vegetable oil products.

·       Dedicated to facilitating India's transition to more sustainable energies, AVTL adheres to the highest standards in health, safety, and environmental practices, ensuring our operations consistently provide the most efficient and reliable storage and logistics solutions.

Nikita Papers Ltd., a leading Kraft paper manufacturer in Uttar Pradesh ?

 

Nikita Papers

Nikita Papers Ltd., founded in 1989 and converted to a public company in 2003, is a leading Kraft paper manufacturer based in Shamli, Uttar Pradesh. Led by Chairman Ashok Kumar Bansal, who has over 25 years in the paper industry, the company has grown through multiple expansions. It now operates with an installed capacity of 1,33,000 MTPA, producing Kraft paper ranging from 80 to 200 GSM in various burst factors to meet diverse customer needs.

Strengths

• Over 30 years of experience in the kraft paper manufacturing industry.
• Diverse product range from 80 to 200 GSM, catering to varied customer needs.
• Continuous capacity expansion with the current installed capacity of 133,000 MTPA.
• Established reputation and strong distributor relationships across India.
• Promoter with over 35 years of industry experience and leadership.

Risks 

• Highly dependent on a single manufacturing facility in Shamli, UP.
• Volatility in raw material prices can impact margins.
• Faces stiff competition from domestic and international paper manufacturers.
• High working capital requirements may stress liquidity.
• Business operations are subject to stringent environmental regulations.

30+ Years of Kraft Paper Excellence

Since our inception in 1992, we have been optimising our processes within the industrial engineering domain. Incorporating environment-friendly practices into our business operation, we produce 100% recyclable kraft paper in a variety of shades, bursting factors, and grammage ranges to cater to different market needs.

From 3,000 TPA to 180,000 TPA, we have grown tremendously and expanded our production capacity. With a team of highly experienced individuals as well as the youth, we bring invincible energy and innovation to the manufacturing of recyclable kraft paper.

Nikita Papers: Pioneering Future with Kraft Paper

We are one of the leading manufacturers of recycled kraft paper, unfolding innovation with cutting-edge technology. From local to international markets, our profound team deliver unparalleled quality kraft paper in order to lead our world towards sustainability. With a vision to preserve the beauty of our environment, we are manufacturing kraft paper from 100% recycled waste paper and embracing innovation in every step of the process.

Message From Chairman : “At Nikita Papers, our aim has always been to achieve the highest customer satisfaction by delivering kraft paper with unmatched quality by employing state-of-the-art production techniques and a highly skilled workforce. We are committed to doing our part in promoting sustainable and eco-friendly lifestyle by promoting the usage of recyclable products in our daily lives.”

Late Sh. Naresh Chandra Bansal Company Chairman

Scoda Tubes, established in 2008, manufactures stainless-steel seamless ?

 

Scoda Tubes

Incorporated in 2008, Scoda Tubes is an Indian manufacturer of stainless-steel seamless and welded tubes and pipes, catering to sectors such as oil and gas, power, chemicals, and transportation. The company’s five product lines are marketed under its own brand and are backed by in-house manufacturing capabilities, including a hot piercing mill with backward integration. Scoda exports to 16 countries and serves 49 stockists globally, with certifications including ISO 9001:2015, PED 2014/68/EU, and DNV. Strategically located near major ports, Scoda’s established client base includes engineering and EPC firms across domestic and international markets.

Strengths

• Specialised focus on value-added stainless-steel long products
• Strong global accreditations and industry certifications
• Well-diversified international customer portfolio
• Strategically located integrated manufacturing facility
• Robust quality control with minimal rejection rates
• Steady financial growth with ongoing capacity expansion

Risks

• Dependence on limited stockist network for sales and distribution
• Risk of termination or underperformance by exclusive stockists
• Exposure to recall of unsecured loans by lenders at any time
• Potential cash flow strain due to sudden loan repayments
• Reliance on third-party logistics for product and raw material transport
• Adverse impact from logistics delays or rising transportation costs
• Vulnerability to theft, accidents, or loss of goods in transit

Transforming Stainless Steel Manufacturing with Innovation & Responsibility

At Scoda Tubes Ltd., we believe in building more than just world-class stainless steel piping solutions—we are committed to shaping a more sustainable future. What began as a small-scale operation has grown into a globally recognized manufacturer, known for our industry expertise, customer-focused approach, and eco-conscious mindset.

We offer a diverse range of high-quality stainless steel products—including Austenitic, Martensitic, Duplex, and Super Duplex seamless pipes, tubes, and ‘U’ tubes—designed to deliver long-term performance across a wide array of industries.

Our fully integrated manufacturing facility is equipped with state-of-the-art solar infrastructure, enabling us to reduce our carbon footprint while increasing energy efficiency. As a company dedicated to environmentally sound operations, we continually adopt clean practices and invest in technology that supports sustainable industrial growth.

With internationally recognized certifications like ISO 9001:2015, ISO 14001:2018, ISO 45001:2018, PED 2014/68/EU, and AD 2000 Merkblatt WO, we ensure compliance with the highest global standards of quality, safety, and environmental management.

Backed by skilled professionals, modern infrastructure, and a deep commitment to responsible manufacturing, Scoda Tubes Ltd. continues to deliver reliable solutions for a better tomorrow.

 

Our Mission

At Scoda Tubes Ltd., our mission is to enhance industrial piping and tubing solutions through superior quality, reliable performance, and enduring partnerships with our clients.

Rooted in a culture of integrity and excellence, our principles guide us in delivering consistent value to the industries and regions we serve. We believe in responsible growth—investing in people, processes, and where it adds value, sustainable practices—to ensure long-term success for our stakeholders.

Prostarm Trusted for quality, innovation, and business continuity support ?

 

Prostarm

Prostarm Info Systems is a technology-driven company specialising in power conditioning and backup solutions. It provides a range of uninterruptible power supply (UPS) systems, solar power solutions, and other energy management products designed to ensure the reliability and efficiency of power infrastructure. Serving clients across industries such as IT, healthcare, education, and manufacturing, the company focuses on delivering dependable, cost-effective solutions tailored to critical operations. With an emphasis on quality, service, and gradual innovation, Prostarm Info Systems operates with a commitment to supporting business continuity and sustainable energy use.

Strengths

• Broad product range across UPS, inverters, solar, and battery solutions.
• Served 700+ clients, including L&T, Tata Power, and Bajaj Finance.
• Wide distribution network with 22 branches and 478+ dealers.
• Strong financial growth from FY22 to FY24 in revenue and profit.
• ISO-certified manufacturing units ensure quality and standards.

Risks

• All manufacturing units located in Maharashtra, creating location risk.
• Facing regulatory notice under the Customs Act, may impact finances.
• High dependence on key suppliers for raw materials.
• Large working capital needs indicate ongoing funding pressure.
• Competes in a crowded market with strong domestic and global players.

Company overview

We are engaged in designing, manufacturing, assembling, sale, service and supply of Energy Storage Equipment and Power Conditioning Equipment (“Power Solution Products”) in India. Our manufactured Power Solution Products comprise of UPS system, Inverter system, Lift Inverter System, Solar Hybrid Inverter Systems, Lithium-Ion Battery Packs, Servo-Controlled Voltage Stabilizers (“SCVS”), Isolation Transformers and other Power solution products. We offer both customized and standard products and solutions, manufactured and assembled at our inhouse facilities and also through third party contract manufacturers. In addition to our core manufactured products, we also deal in sale and supply of Third party manufactured batteries, reverse logistics/end-of-life disposal for UPS systems and batteries and other allied products. We also undertake rooftop solar photovoltaic power plant projects across India on EPC basis. Our comprehensive range of value-added services include installation, rental, aftersales services (including warranty and post-warranty services), Annual Maintenance Contracts (“AMC”) which supplements our Power Solution Products, catering to a wide spectrum of customers and their requirements.

We specialize in power electronics solutions, offering reliable and affordable products to businesses across various sectors and have built a reputation for delivering dependable UPS systems that ensure continuous power availability in critical sectors like banking, finance, and healthcare.

Over the years, we have leveraged our expertise, processes and infrastructure to cater to diverse end-use industries such as Healthcare, Aviation, Research, BFSI, Railways, Defense, Security, Education, Renewable energy, Information Technology and Oil & gas. As on date, we are empaneled vendor for Airports Authority of India; Central Public Works Department, Patna Bihar; Public Works Department, New Delhi; West Bengal Public Health Engineering Department; West Bengal Electronic Industry Development Corporation Limited; Telangana State Technology Services Limited; Railtel Corporation of India Limited; and NTPC Vidyut Vyapar and Nigam Limited. Incorporated in 2008, we started our commercial operations by focusing on the sale, supply, and installation of batteries and Uninterruptible Power Supply systems manufactured by Third-party vendors. This initial phase allowed us to understand the market and thereafter establish a strong foothold in the market and build relationships with customers seeking reliable power solution products.

Over the years, we have significantly expanded and diversified our operations. Today, we not only deal in the sale and supply of Power Solution Products but have also evolved into a comprehensive power solutions provider. Presently, our offerings include the designing, manufacturing and assembling of a wide range of energy storage and power conditioning equipment under our own brand. The strategic shift to in-house production has enabled us to maintain high quality standards, innovate continuously, and offer customized solutions tailored to meet the specific requirements of our customers. We believe that our ability to offer end-to-end power solution products has positioned us as a trusted partner for a wide range of customers. Since year 2018, we have strategically expanded our business operations by venturing into the engineering, procurement and construction segment, specifically focusing on setting up rooftop solar photovoltaic (PV) power system across India. This vertical complements our core power solutions business, aligning with the increasing demand for renewable energy sources and sustainable power solutions. Our expertise in the EPC domain allows us to offer end-to-end solutions for rooftop solar installations, covering all aspects of solar PV power project development, including site assessment, system design, procurement of high-quality materials, and complete installation services.

Additionally, we provide operations and maintenance (“O&M”) services to our clients to ensure optimal performance, reliability, and longevity of the solar power systems. We have successfully executed and commissioned rooftop Solar PV Power Plants totaling 7.35MW at over one hundred sites in the last three (3) Fiscals. We are presently catering wide range of power solution products to diverse clientele including the government, private institutions and corporate customers. Our extensive capabilities to meet our customers' requirements are bolstered by our pan-India sales and service network.

Neptune Petrochemicals IPO UPcoming MAY 2025

 

Neptune Petrochemicals, incorporated in 2021, is engaged in the manufacturing and trading of bitumen products, including polymer-modified and crumb rubber-modified bitumen, as well as bitumen emulsions and fuel oils. The company operates three manufacturing units in Gujarat, Haryana, and Assam, and serves clients primarily in the road construction and industrial sectors across India, Nepal, and Bhutan. It follows standardised quality, environmental, and safety protocols, holding ISO 9001:2015, ISO 14001:2015, and OHSAS 45001:2018 certifications. As of December 2024, the company employed 59 people and has maintained consistent operations through experienced leadership and sector-specific focus.

Neptune commenced its operations as a trader in the 2004 year, since then the company has periodically changed with backward integration, Neptune Petrochemicals Limited came into Manufacturing Process & Imports to match current Nation needs of Petrochemicals Products.

·       Under the Guidance of Mr. Paresh Shah, Neptune Petrochemicals Limited has made significant investments in expanding its infrastructural forte that allow smooth functioning of its manufacturing processes. The company has also delinquently recruited a highly knowledgeable, Skilled, Experienced & Successful Professional workforce that well complements its strides towards growth.

     Neptune Petrochemicals Limited Believes that “Quality is never an accident, It is always result of an intelligent Effort.” Begin one of the Pioneers in the Bitumen Industry, Neptune setup & Expanded different horizons of Producing, Manufacturing & Supplying Bitumen, Emulsions, Modified Bitumen Like PMB – Polymer Modified Bitumen, CRMB – Crumb Rubber Based Modified Bitumen & Other value added Bituminous Products.

  With Highly Equipped Manufacturing Plants across India, Neptune has succeeded in Establishing Plant of Emulsions, PMB, CRMB & Other Value added Bituminous Products in Bavla, Gujarat.

·     With Focus in Quality, Our Manufacturing Unit Make, Product & Supply Products with quality made & finish. Our bitumen emulsion plant is fully automatic batch machine with self-functionalities. It produces quality material from all grades of Bitumen Emulsion, PMB, CRMB & Bitumen Products used for making road, water proofing & several other construction companies.

·    With the state of the art laboratory & R&D development, highly technical, knowledgeable, skilled expertise, Neptune ensures in Quality standards. We consider with producing & Manufacturing High quality products in one plant. With highly equipped machineries we are able to produce high quantity of products with quality measures. Our Research department findings take our products to new heights of success.

·    With ISO 9001:2015 in built quality management system, ISO 14001:2015 with the care of Environmental Management System & with OHSAS 18001:2007 with the care of Occupational health & safety management system, Neptune adhere to all global standard and incorporate all necessary create, produce, supply product with quality make and finish. By Maintaining innovated products, excellent operations, we adhere to all global standards & incorporate all the necessary quality protocols.

 Strengths

• Diverse product portfolio serving construction, road, and industrial sectors.
• Operational knowledge built on years of industry experience.
• Products tailored to specific market segments like road construction.
• Applications span infrastructure, energy, manufacturing, and agriculture.
• Production aligned with demand forecasting and supplier coordination.
• Capacity to fulfil bulk orders during peak construction periods.

Risks

• Dependence on international suppliers for raw materials
• Exposure to price volatility and supply chain disruptions in trading model
• Uncertain revenue growth due to customer acquisition challenges
• Seasonal demand fluctuations, particularly during monsoons
• Profitability risk due to crude oil price volatility
• Underutilisation of installed manufacturing capacity
• Pending legal proceedings against company and key personnel

 Why Neptune Stands Out

✅ Wide product range for road construction, infrastructure, and industrial sectors

✅ Ability to fulfill bulk orders efficiently

✅ Highly equipped plants and research labs

✅ Strong customer base across India and neighboring countries

✅ Compliance with international quality and safety standards