Aastha Spintex IPO

The Aastha Spintex mainboard IPO opens for subscription on 29 Jun 2026 and closes on 1 Jul 2026, offered at a price band of ₹125–136 per share, and is set to list on NSE and BSE. In total, the issue aims to mobilise ₹170 crore. Retail investors bid in lots of 110 shares, a minimum application of ₹14,960.

Issue structure

The IPO is structured entirely as a fresh issue of ₹170 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward part payment of the purchase consideration for the acquisition of falcon yarns private limited (₹111.51 crore), alongside general corporate purpose (₹40.47 crore). In all, 4 objects are disclosed — the full break-up is in the table above.

Financials

In FY2025, Aastha Spintex reported revenue of ₹314.02 crore and a net profit of ₹17.56 crore. Revenue grew from ₹239.69 crore in FY2023 to ₹314.02 crore in FY2025 (+31.0%). Net worth stood at ₹153.18 crore at the end of FY2025. At the upper band, that puts the issue at roughly 18.8× FY2025 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 25.65× post-issue earnings and 3.11× book value, against a return on net worth of 11.46% and a debt-to-equity ratio of 0.66. These ratios come from the offer document and are for comparison, not a recommendation.

Peer comparison

The offer document names listed peers including Ambika Cotton Mills Limited and Lagnam Spintex Limited, with a median peer P/E of about 14.3×. The issue's own post-issue P/E works out to 25.65×.

Promoters

The promoters of the company are Patel Divyang Jashwantbhai, Rasiklal Valjibhai Patel, Gothi Vivek Rasiklal and Jashwantbhai Valjibhai Patel. Promoter holding stands at 74.23% before the issue and comes down to 53.21% after listing.

Grey market premium (GMP)

In the unofficial grey market, Aastha Spintex shares are quoted at a premium of ₹5 implying an expected listing around ₹141, about +3.7% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

Subscription

The Aastha Spintex IPO was subscribed 5.05 times overall. The strongest demand came from non-institutional investors (NII) at 8.29 times, with qualified institutional buyers (QIB) at 3.59× and retail investors at 2.54×.

Listing performance

Aastha Spintex listed on 6 Jul 2026 at ₹130, a discount of -4.4% over the issue price of ₹136.

What to weigh

When evaluating the Aastha Spintex IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Aastha Spintex

Aastha Spintex Ltd. is engaged in the business of manufacturing and trading of carded, combed and compact combed cotton yarns and cotton bales. The company's cotton bales are utilized both for captive production of cotton yarns and for supply to other spinning units and the cotton yarns produced are used in both knitting and weaving applications, catering to a wide spectrum of end-use segments and products including denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear, home textiles, and industrial fabrics. The company have a semi-automated and integrated spinning and ginning Manufacturing Facility situated at Halvad, Morbi, Gujarat. Product: Cotton Bales:  Cotton bales are compressed, packaged bundles of ginned cotton, produced after the raw cotton undergoes ginning to separate the lint from the seeds and other impurities. Other Products:  Cotton yarn waste arises during spinning and postprocessing but is effectively reused within the textile ecosystem. Cotton yarn waste is an inevitable byproduct of the yarn manufacturing process, arising from pre-processing, spinning, and post-processing stages. Competitive Strengths: Fully integrated cotton spinning infrastructure with modern technologies to support our product portfolio. Long standing relationship with key customers. Strategically located manufacturing facility with adequate storage facility and scope for future expansion. Strong Renewable Energy Infrastructure Enabling Sustainable and Cost-Efficient Manufacturing. Delivering Strong financials and operating metrics. Strong Promoters and Experienced Management Team.