Summary of this article
Aastha Spintex IPO opened on June 29 and closes for subscription on July 1
The company aims to raise Rs 170 crore through a fresh equity issue
The IPO's grey market premium currently stands at Rs 5.75 per share
Aastha Spintex IPO GMP: Cotton yarns maker Aastha Spintex's initial public offering (IPO) opened for subscription on June 29 and witnessed healthy investor participation on the very first day of bidding. The Rs 170 crore public issue is witnessing stronger participation from non-institutional investors (NIIs).
The grey market premium (GMP) has also improved gradually over the past few sessions, indicating positive sentiment ahead of the listing. The issue will remain open for subscription until July 1.
Incorporated in 2013, Gujarat-based Aastha Spintex is engaged in the manufacturing and trading of cotton yarns and cotton bales. The company operates a semi-automated integrated spinning and ginning facility at Halvad in Morbi district. Its products include carded, combed and compact combed cotton yarns, which find applications in denim, terry towels, shirting, sheeting, socks, sweaters, home textiles and industrial fabrics.
Aastha Spintex IPO Details
Aastha Spintex IPO is entirely a fresh issue of 125 million shares aggregating to Rs 170 crore. The price band has been fixed at Rs 125 to Rs 136 per share.
The minimum lot size for retail investors is 110 shares, requiring an investment of Rs 14,960 at the upper end of the price band. The minimum investment for the small NII category is Rs 209,440 for 1,540 shares, while the big NII category requires an investment of Rs 1,002,320 for 7,370 shares.
The basis of allotment is expected to be finalised on July 2. Refunds and credits of shares are scheduled for July 3, while the stock is expected to list on the BSE and NSE on July 6.
BOI Merchant Bankers is the book-running lead manager to the issue, and Bigshare Services is the registrar.
Promoter holding is expected to decline from 74.23 per cent before the issue to 53.21 per cent after the IPO.
Aastha Spintex IPO Subscription Status: Day 1
As of 3:21 PM on June 29, the IPO was subscribed 0.70 times. The NII category saw the strongest demand and was subscribed to 1.04 times. Within the NII segment, the small NII portion was subscribed to 1.52 times, while the big NII category was subscribed to 0.80 times.
The qualified institutional buyer (QIB) category was subscribed 0.73 times, while the retail investor portion was subscribed 0.33 times.
The company has reserved 20 per cent of the issue for QIBs, 40 per cent for NIIs and 40 per cent for retail investors. Out of the total 125 million shares offered in the IPO, 25 million shares have been reserved for QIBs, 50 million shares for NIIs and 50 million shares for retail investors.
Aastha Spintex IPO GMP Today
The latest grey market premium for Aastha Spintex IPO stood at Rs 5.75 per share as of June 29 afternoon. Based on the upper price band of Rs 136, the estimated listing price in the grey market is around Rs 141.75, indicating a potential gain of 4.23 per cent.
The GMP trend has remained positive over the past few days. The premium stood at Rs 4 on June 25, increased to Rs 5.25 on June 26, eased to Rs 5 on June 27, rose to Rs 5.25 on June 28 and further climbed to Rs 5.75 on the opening day of the issue.
Investors should note that the grey market is unofficial and operates outside regulatory oversight. While GMP often indicates market sentiment towards an IPO, it does not guarantee listing gains. Investment decisions should therefore be based on the company's financial performance, valuation, business fundamentals and long-term growth prospects rather than GMP alone.
Aastha Spintex IPO Objectives
Aastha Spintex plans to use the IPO proceeds mainly to acquire Falcon Yarns Private Limited. The company will allocate Rs 111.51 crore towards part payment of the acquisition consideration.
It will also provide Rs 10 crore as inter-corporate deposits to support the working capital requirements of Falcon Yarns. The company will use the remaining proceeds for general corporate purposes.
Aastha Spintex Financial Performance
Aastha Spintex’s revenue increased from Rs 239.69 crore in FY23 to Rs 305.67 crore in FY24 and further to Rs 352.17 crore in FY25.
Ebitda rose from Rs 11.60 crore in FY23 to Rs 34.25 crore in FY24 and further to Rs 46.36 crore in FY25. Profit after tax increased sharply from Rs 1.06 crore in FY23 to Rs 16.29 crore in FY24 and reached Rs 22.92 crore in FY25.
For the nine months ended December 2025, the company reported revenue of Rs 314.02 crore, Ebitda of Rs 35.25 crore and profit after tax of Rs 17.56 crore.
As of December 31, 2025, the company's total assets stood at Rs 331.66 crore. Net worth was Rs 153.18 crore, while reserves and surplus stood at Rs 121.47 crore. The debt-to-equity ratio improved to 0.66 from 0.79 a year earlier, indicating a relatively comfortable leverage position.
