Aastha Spintex IPO Day 3: The initial public offering of Aastha Spintex opened for subscription on Monday, 29 June and will close on today, Wednesday, July 1. The Aastha Spintex IPO price band has been set in the range of ₹125-136 per share.

Aastha Spintex aims to raise ₹170 crore through its IPO, which comprises an entirely fresh issue of 1.25 crore equity shares with no offer-for-sale (OFS) component.

The IPO allotment is expected to be finalised on Thursday, July 2, while successful bidders are likely to receive shares in their demat accounts on Friday, July 3. Refunds to unsuccessful applicants are also expected to be initiated on the same day. The shares are tentatively scheduled to list on the BSE and NSE on July 6.

According to the company’s prospectus, the net proceeds from the issue will be primarily used to fund the part payment of the acquisition of Falcon Yarns Private Limited, for which ₹111.51 crore has been earmarked. Another ₹10 crore will be deployed as inter-corporate deposits to meet the working capital requirements of Falcon Yarns, while the remaining funds will be used for general corporate purposes.

“The proposed IPO will further accelerate our growth strategy by supporting the acquisition of Falcon Yarns Private Limited and enhancing our manufacturing capabilities,” said Patel Divyang Jashvantbhai, Promoter, Chairman and Managing Director of Aastha Spintex.

The minimum application size is 110 shares, requiring a minimum investment of ₹14,960 for retail investors at the upper end of the price band. BOI Merchant Bankers Ltd. is the book-running lead manager to the issue, while Bigshare Services Pvt. Ltd. is the registrar.

Aastha Spintex IPO GMP Today

Investor sentiment toward the IPO is muted, as its grey market premium (GMP) is ₹6.25 on 1 July. This suggested that the stock was likely to debut at ₹142.25, at 4.6% premium to IPO price.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Aastha Spintex IPO subscription status

The IPO was subscribed 1.61 times by end of Day 2. The subscription for Day 3 will begin at 10 am.

Should you subscribe?

Brokerages have largely maintained a positive outlook on Aastha Spintex’s IPO, citing the company’s improving financial performance, capacity expansion plans and favourable industry tailwinds.

Swastika Investmart has assigned a ‘Subscribe’ rating for medium- to long-term investors. The brokerage highlighted the company’s sharp financial turnaround, with revenue rising from ₹239 crore in FY23 to ₹351 crore in FY25, while net profit surged from ₹1 crore to ₹23 crore during the same period. It said the proposed acquisition of Falcon Yarns is expected to more than double Aastha Spintex’s spinning capacity from 7,700 metric tonnes to 17,457 metric tonnes per annum, providing a significant boost to future revenue growth. Swastika also noted that the company’s investments in solar and wind power, which now meet nearly 80% of its energy requirements, are expected to reduce power costs and support profitability.

Ventura Securities has also recommended ‘Subscribe’ on the issue. The brokerage said Aastha Spintex is a Gujarat-based integrated textile manufacturer engaged in producing cotton yarns and cotton bales through its spinning and ginning facility in Morbi. Backed by India’s expanding textile industry and its strategic location near key cotton-producing regions, the company reported ₹351.16 crore in revenue and ₹23.5 crore in profit after tax (PAT) in FY25.

“It manufactures 100% cotton yarns for applications across apparel and home textiles. Aastha plans to utilise the ₹170-crore IPO proceeds to acquire Falcon Yarns, repay debt and fund working capital. The acquisition may more than double its spinning capacity, strengthening its long-term growth prospects,” Ventura Securities said while assigning a ‘Subscribe’ rating.

About Aastha Spintex

Incorporated in 2013, Aastha Spintex Ltd. manufactures and trades carded, combed and compact combed cotton yarns, along with cotton bales.

The company uses a portion of its cotton bales for captive consumption in yarn manufacturing, while the remaining output is supplied to other spinning mills. Its cotton yarn caters to both knitting and weaving applications across a wide range of end-use industries, including denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear, home textiles and industrial fabrics.

For FY25, Aastha Spintex reported revenue of ₹351.16 crore and a net profit of ₹22.92 crore. During the nine months ended December 2025, the company posted revenue of ₹313.29 crore, while profit after tax (PAT) stood at ₹17.56 crore.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.