Aastha Spintex IPO opens today; GMP up 4%; is it worth your money?

Aastha Spintex IPO opens for subscription today, June 29, 2026: The initial public offering (IPO) of Aastha Spintex is set to open for public subscription today, Monday, June 29, 2026. Through its maiden share sale, the cotton yarn and cotton bales manufacturer and trader seeks to raise ₹170.00 crore from the markets by offering a fresh issue of 12.5 million equity shares.

As investors await the opening of the subscription window, here are the key details of Aastha Spintex IPO:

Aastha Spintex IPO details

Aastha Spintex IPO comprises an entirely fresh issue of 12.5 million equity shares worth ₹170.00 crore. The public issue does not have an offer-for-sale (OFS) component.

 

 

The issue is being offered at a price band of ₹125-136 per share with a lot size of 110 shares. Investors can bid for a minimum of 110 shares and in multiples thereof.

 

A retail investor would require ₹14,960 to bid for one lot, or 110 shares. To bid for the maximum of 13 lots, or 1,430 shares, an investment of ₹1,94,480 is required.

 

Bigshare Services is acting as the registrar to the issue, while BOI Merchant Banker and PNB Investment Services are the book-running lead managers.

Aastha Spintex IPO grey market premium

The unlisted shares of Aastha Spintex were commanding a decent premium in the grey market ahead of the opening of the public issue. Sources tracking unofficial market activity revealed that the company's unlisted shares were changing hands at ₹141.25, reflecting a grey market premium (GMP) of ₹5.25 per share, or 3.86 per cent over the upper end of the issue price.  READ | Advit Jewels IPO booked 212x; here's how to check allotment status, GMP

Aastha Spintex IPO timeline

The three-day subscription window for the Aastha Spintex IPO will close on Wednesday, July 1, 2026. Following the closure of the subscription window, the basis of allotment is likely to be finalised on Thursday, July 2, 2026.

 

The successful investors can expect the company's shares to be credited to their demat accounts by Friday, July 3, 2026.

 

Shares of Aastha Spintex are tentatively scheduled to make their D-Street debut on Monday, July 6, 2026.

 

Aastha Spintex IPO objective

 

The company proposes to use the proceeds from the public offering for part payment of the purchase consideration for the acquisition of Falcon Yarns Private Limited, as well as for inter-corporate deposits to fund the working capital requirements of Falcon Yarns. The remaining proceeds will be used for general corporate purposes.

Should you subscribe to the Aastha Spintex IPO?

SBI Securities: Neutral

 

SBI Securities has assigned a Neutral rating to the issue, saying it would like to track the company's performance for a few quarters after listing.

 

The brokerage noted that the company has historically demonstrated healthy financial performance, with revenue, EBITDA and PAT growing at a CAGR of 21 per cent, 88 per cent and 365 per cent, respectively, to ₹351 crore, ₹50 crore and ₹23 crore between FY23 and FY25.

 

Going forward, the acquisition of Falcon Yarns, SBI Securities said, will help expand the company's manufacturing scale while broadening its customer base and improving its market positioning.

 

"At the upper price band of ₹136, the issue is valued at a P/E of 21.9x based on annualised 9MFY26 pro forma earnings on a post-issue basis, which is expensive relative to peers," the brokerage said in its report.

 

Swastika Investmart: Subscribe for long term

 

Swastika Investmart has recommended investors Subscribe for the medium to long term, noting that at around 18.78x FY25 P/E, the IPO appears reasonably valued considering its growth profile and improving margins.

 

"The acquisition of Falcon Yarns is expected to more than double spinning capacity from 7,700 MT to 17,457 MT per annum, supporting future revenue growth. The business remains exposed to cotton price volatility, dependence on a single manufacturing facility, and customer concentration outside Gujarat through a reseller," the brokerage said.

 

About Aastha Spintex

 

Aastha Spintex (ASPL) is engaged in the manufacturing and trading of cotton yarns (carded, combed and compact combed) and cotton bales. The cotton bales produced by the company are primarily used captively to manufacture cotton yarn, while the surplus is sold to spinning mills, traders and other customers.

 

The cotton yarns produced by ASPL are used in both knitting and weaving applications, catering to a wide range of end-use segments and products such as denim, terry towels, shirting, sheeting, sweaters, home textiles and industrial fabrics.  ===================================================== 

(Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers' discretion is advised.)