Home / Business and Economy / Aastha Spintex IPO: 1.48x Subscription Achieved
Aastha Spintex IPO: 1.48x Subscription Achieved
30 Jun
Summary
- Aastha Spintex IPO received bids for 2.01 crore shares against 1.36 crore offered.
- The IPO is a fresh issue worth Rs 170 crore, set to acquire Falcon Yarns.
- Funds will partly finance Falcon Yarns acquisition and working capital needs.
The initial public offering (IPO) of Aastha Spintex has successfully garnered bids for 2.01 crore shares against the 1.36 crore shares made available, as of 5:00 PM IST on Tuesday, June 30, 2026. This indicates the issue was subscribed 1.48 times by Tuesday evening.
The subscription period for the IPO, which features a price band of Rs 125 to Rs 136 per share, commenced on June 29, 2026, and is scheduled to conclude on July 1, 2026. Investors are required to bid for a minimum of 110 equity shares.
This IPO is structured as a fresh issue of shares totaling Rs 170 crore. The company intends to utilize these proceeds to partly finance the acquisition of Falcon Yarns Private Limited for Rs 111.5 crore. An additional Rs 10.0 crore will support the working capital requirements of Falcon Yarns.
Aastha Spintex, established in 2008, specializes in manufacturing and trading various types of cotton yarns and cotton bales. Operating from a semi-automated facility in Halvad, Gujarat, the company is set to significantly expand its production capacity through the Falcon Yarns acquisition.
For the twelve months ending March 31, 2026, Aastha Spintex reported a consolidated net profit of Rs 2.96 crore on sales of Rs 169.53 crore. The acquisition of Falcon Yarns is expected to more than double its annual spinning capacity.
