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IPO Details, Price, Date, Timetable, Peer and Review
Aastha Spintex IPO is a mainboard IPO aggregating up to 170 crore rupees. The issue consists entirely of a fresh issue of 1,25,00,000 shares (aggregating up to 170 crore rupees).
The IPO opened for subscription on 29 June 2026 and closes on 1 July 2026. The basis of allotment was finalised on 2 July 2026. The shares were listed on NSE and BSE on 6 July 2026.
The price band for the IPO is set at ₹125 to ₹136 per share. The minimum amount required for a retail investor is ₹14,960 (110 shares, 1 lot). The minimum amount required for an sHNI investor is ₹2,09,440 (1,540 shares, 14 lots).
The final allotment price for the Aastha Spintex IPO was fixed at ₹136 per share. The shares successfully listed on the BSE at ₹130.00 per share (with a listing gain of -4.41%) and on the NSE at ₹130.00 per share (with a listing gain of -4.41%).
BOI Merchant Bankers Ltd and PNB Investment Services Ltd is the lead manager and Bigshare Services is the registrar of the IPO.
Refer to Aastha Spintex RHP for more detailed information.
Aastha Spintex Share Price Analysis Local DB (Max)
Aastha Spintex IPO Details Listed
IPO Issue Details
Aastha Spintex IPO Lot Size & Required Amount
Number of Shares Per Lot = Shares
| Application | Lot(s) | Shares | Amount |
|---|---|---|---|
|
Retail (Min) Minimum investment required for Retail Individual Investors (RII). |
1 | 110 | ₹14,960 |
|
Retail (Max) Maximum investment allowed for Retail Individual Investors (Must be under ₹2 Lakhs). |
13 | 1430 | ₹1,94,480 |
|
S-HNI (Min) Minimum investment for Small High Net-worth Individuals (sHNI) (Must be above ₹2 Lakhs). |
14 | 1540 | ₹2,09,440 |
|
S-HNI (Max) Maximum investment for Small High Net-worth Individuals (sHNI) (Must be up to ₹10 Lakhs). |
66 | 7260 | ₹9,87,360 |
|
B-HNI (Min) Minimum investment for Big High Net-worth Individuals (bHNI) (Must be above ₹10 Lakhs). |
67 | 7370 | ₹10,02,320 |
IPO Reservation
Out of which Not more than 20% of the offer allocated to QIB, Not less than 40% of the offer allocated to NII, Not less than 40% of the offer allocated to RII.
| Investor Category | Shares Offered |
|---|---|
|
QIB Shares Offered
Qualified Institutional Buyers (e.g., mutual funds, banks). |
Not more than 20% of the offer |
|
NII (HNI) Shares Offered
Non-Institutional Investors, also known as High Net-worth Individuals. |
Not less than 40% of the offer |
|
Retail Shares Offered
Retail Individual Investors applying for up to ₹2 Lakh. |
Not less than 40% of the offer |
| 31 Dec 25 In Cr. | 31 Mar 25 In Cr. | 31 Mar 24 In Cr. | 31 Mar 23 In Cr. | |
|---|---|---|---|---|
| Assets | 331.66 | 274.2 | 240.57 | 172.59 |
| Revenue | 314.02 | 352.17 | 305.67 | 239.69 |
| Profit After Tax | 17.56 | 22.92 | 16.29 | 1.06 |
| EBITDA | 35.25 | 46.36 | 34.25 | 11.6 |
| Net Worth | 153.18 | 121.05 | 76.38 | 60.01 |
| Total Borrowing | 82.86 | 81.01 |
The company’s 2025 financials are from the pro forma consolidated statement, and the financials for 2024 and 2023 are from the standalone statements.
Financial Performance Indicator (FPI)
| FPI | 31 Dec 2025 | 31 Mar 2025 |
|---|---|---|
ROE Return on Equity (ROE) is a measure of financial performance... | 12.80% | 23.21% |
ROCE Return on Capital Employed indicates how efficiently a company uses its capital. | 12.13% | 18.89% |
Debt/Equity A ratio comparing total liabilities to shareholder equity. | 0.66 | 0.79 |
RoNW RoNW (Return on Net Worth) is the percentage of profit earned relative to the company's net worth and reflects overall profitability for shareholders. | 11.46% | 18.93% |
PAT Margin Profit After Tax as a percentage of revenue. Shows how much net profit is retained from every rupee of sales. | 5.60% | 6.53% |
EBITDA Margin EBITDA Margin indicates earnings before interest, tax, depreciation, and amortisation as a percentage of revenue; reflects core operating efficiency. | 11.25% | 13.20% |
Price to Book Value Compares the stock's market price to its book value per share. A higher ratio may indicate market premium. | 3.11 |
| Pre IPO | Post IPO | |
|---|---|---|
EPS Rs Earnings Per Share is a company's profit divided by outstanding shares. | 7.24 | 5.30 |
P/E (x) Price to Earnings ratio is the ratio of a stock's market price to its earnings per share. Indicates how much investors pay per rupee of earnings. | 18.78 | 25.65 |
Promoter Holding The percentage of total shares held by the company's founders or promoter group. | 74.23% | 53.21% |
Market Cap Total market value of a company's outstanding shares. | ₹600.33 crore | |
IPO Peer Comparison
| Company Name | P/E ratio | EPS (Basic) | EPS (Diluted) | NAV (per share) | RoNW (%) | P/BV |
|---|---|---|---|---|---|---|
| Pashupati Cotspin | 85.43(Pashupati) | 0.82(Pashupati) | 0.82(Pashupati) | 106.54(Pashupati) | 8.35(Pashupati) | 9.67(Pashupati) |
| Lagnam Spintex | 11.15(Lagnam) | 7.28(Lagnam) | 7.28(Lagnam) | 68.41(Lagnam) | 10.64(Lagnam) | 1.19(Lagnam) |
| Ambika Cotton Mills | 14.25(Ambika) | 114.83(Ambika) | 114.83(Ambika) | 1,579.14(Ambika) | 7.27(Ambika) | 1.04(Ambika) |
| Aastha Spintex Ltd | (Aastha) | 8.50(Aastha) | 8.50(Aastha) | 44.01(Aastha) | 19.32(Aastha) | (Aastha) |
IPO Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:S.No | Objects | Amount (in ₹, Cr) |
1 | Part Payment of the purchase consideration for the acquisition of Falcon Yarns Private Limited | 111.51 |
3 | Inter-Corporate deposits for funding working capital requirement of Falcon Yarns Private Limited | 10.0 |
2 | General Corporate Purpose | - |
Total: |
About
Incorporated in 2013 (converted into a public limited company in February 2025), Aastha Spintex Limited is a textile company primarily engaged in the manufacturing and trading of carded, combed, and compact combed cotton yarns, as well as cotton bales. Primarily operates within the business to business (B2B) segment, the company supplies its products to a broad range of buyers, including textile manufacturers, yarn exporters, bulk purchasers, and fabric processors. The company has complete vertical setup from raw material procurement to finished product under one roof.
Core Business & Product Portfolio
- Cotton Yarns: Carded, combed, and compact combed cotton yarns (The yarns are used across knitting and weaving applications, serving end-use segments including Denim, Home textiles, Garments, Industrial fabrics, Terry towels, shirting, sheeting, sweaters, socks, bottom wear, and sheeting.
- Cotton Bales: Used for captive production and supply to spinning units.
Aastha Spintex places a heavy emphasis on eco-friendly manufacturing practices and energy self-reliance. The company has invested in a strong renewable energy infrastructure, which includes a 1 MW rooftop solar power unit, a 4 MW ground mounted solar power plant, and a 2.7 MW wind power plant. Together, these renewable sources fulfill approximately 80% of the facility’s total power requirements, substantially reducing operational electricity costs and lowering the company’s overall carbon footprint
Competitive Strengths
- Sustainable cost advantage through 80% renewable energy usage.
- Vertically integrated manufacturing.
- Focused B2B business model with established industry clients.
- Consistent quality focus and long standing customer relationships
- Experienced promoter group with long standing textile sector presence (The promoter group has experience in the textile sector since 2013).
IPO Review
Strength1. Fully Integrated Infrastructure & Modern Technology: The company operates a fully integrated cotton ginning and spinning facility under one roof in Halvad, Morbi, Gujarat, minimizing material handling and production lead times.
2. Strategic Location with Expansion Scope: Situated in one of Gujarat’s major cotton growing regions, the facility has direct access to raw materials and skilled labor. The plant is well connected by road, rail, and port networks (around 135 km from Kandla Port), optimizing supply chain logistics. Furthermore, the built-up area currently covers 46.22% of the land, leaving substantial vacant land (35,364.89 sq. meters) for future expansion.
3. Strong Renewable Energy Infrastructure: To enable sustainable and cost efficient manufacturing, the company has installed a 5 MW solar power plant (including a 1 MW rooftop and 4 MW ground mounted setup) and a 2.7 MW wind power project. This significantly reduces operational and energy costs while improving its Environmental, Social, and Governance (ESG) profile.
4. Long Standing Customer Relationships: Aastha Spintex has built strong relationships over the past decade. The company serves customers directly in Gujarat and uses a reseller for markets outside the state and for exports. It served 231 customers in Fiscal 2025, with several key clients associated with the company for over 5 years.
Weakness1. Heavy Reliance on a Single Reseller: The company depends significantly on a single reseller, 7 Seas Impex, for all of its sales outside Gujarat and for exports. This reseller accounted for 33.88% of total revenue in Fiscal 2025 (down from 66.61% in Fiscal 2023). Any disruption with this partner could severely constrain the company’s market access.
2. Customer and Supplier Concentration Risk: A major portion of revenue relies on a limited number of clients, with the top 10 customers accounting for 59.94% of revenue in Fiscal 2025. Similarly, the company depends heavily on a small group of suppliers for raw cotton and cotton bales, with the top 10 suppliers making up 73.05% of its total purchases in Fiscal 2025.
3. Acquisition and Integration Risks: A large portion of the IPO proceeds (₹111.51 crore) is proposed to be used to pay the balance consideration for the 100% acquisition of Falcon Yarns Private Limited.
4. Geographical Concentration: Both the manufacturing facility and the corporate office are situated in Gujarat. Furthermore, 88.71% of the company’s revenue from products in Fiscal 2025 was generated from sales within Gujarat. Any regional disruptions, policy changes, or natural calamities in Gujarat would disproportionately impact operations.
5. Flammability Risks: Cotton is a highly flammable commodity. Despite safety measures, any fire or mishap at the ginning or spinning facilities could cause extensive property damage and severe business interruptions.
Aastha Spintex IPO Lead Manager(s)
- BOI Merchant Bankers Ltd
- PNB Investment Services Ltd
IPO Frequently Asked Questions (FAQ)
IPO is a mainboard IPO. The company will raise upto for . Face value is , Price band is , and cutt off price is . The IPO opens on and closes on . is the registrar and shares of IPO will be listed at .
The issue size of IPO is . For fresh issue: and for offer for sale: .
Price band for IPO is . Applying IPO application at cutt off price (the upper end of price band) is considered safer than the applying IPO application at lower end of price band.
The lot size of IPO is of . Minimum order quantity for retail investor is shares ( lots) and required amount is . Minimum order quantity for sHNI is shares ( lots) and required amount is . Minimum order quantity for bHNI investor is shares ( lots) and required amount is .
The investors portion reserved for QIB is , reserved for HNI is and reserved for retail investors.
The IPO will be available for subscription from to . IPO open date is and close date is .
Allotment date for IPO is . On the allotment date, After the IPO allotment status is announced, investors can check their IPO application allotment status on their respective IPO registrar.
The registrar for IPO is .
The IPO will be listed on at .