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Aastha Spintex IPO Oversubscribed on Day 1
29 Jun
Summary
- Aastha Spintex IPO received bids for 1.19 crore shares against 1.36 crore shares.
- The IPO aims to raise Rs 170 crore by issuing new shares.
- Funds will partly finance the acquisition of Falcon Yarns Private Limited.
Aastha Spintex's Initial Public Offering (IPO) commenced on June 29, 2026, and attracted bids for 1.19 crore shares against the 1.36 crore available, achieving a subscription rate of 0.88 times. The issue is set to close on July 1, 2026, with a price band of Rs 125 to Rs 136 per share.
The IPO represents a fresh issue of shares totaling Rs 170 crore. The company intends to allocate Rs 111.5 crore towards the acquisition of Falcon Yarns Private Limited, Rs 10 crore for its working capital, and the rest for general corporate needs.
Founded in 2008, Aastha Spintex specializes in manufacturing and trading various cotton yarns and bales from its Gujarat facility. The company operates on a B2B model, supplying to textile manufacturers and exporters. The acquisition of Falcon Yarns, for which Aastha has an agreement, is expected to substantially increase its spinning capacity.
