Stocks
Invest in Stocks
Invest in stocks, ETFs, IPOs with fast orders. Track returns on your stock holdings and view real-time P&L on your positions.
F&O
Mutual Funds
Invest in Mutual Funds
Invest in direct mutual funds at zero charges via lump sump investments or SIPs
Aastha Spintex Ltd IPO
Aastha Spintex Ltd
₹13,750 /110 sharesMinimum investment
IPO listing details
Listed on
6 Jul '26
Issue price
₹136.00
Listing price
₹130.00
Listing gains
-₹6.00 (4.41%)
Exchange
BSE
IPO details
Minimum investment
₹13,750
Price range
₹125 - ₹136
Lot size
110
Issue size
170 Cr
Face value
10
IPO document
Subscription rate
Qualified Institutional Buyers3.30x
Non-Institutional Investor7.61x
Retail Individual Investor2.25x
Total4.60x
As of 01 Jul'26, 05:02 PM
Schedule
29 Jun 2026
IPO open date
1 Jul 2026
IPO close date
2 Jul 2026
Allotment date
2 Jul 2026
Funds unblock or debit
6 Jul 2026
Tentative listing date
About
Founded in
2013
MD/CEO
Mr Divyang Jashwantbhai Patel
Parent organisation
Aastha Spintex Ltd
Aastha Spintex Ltd IPO
https://www.youtube.com/watch?v=_e_XUZK62R8
Aastha Spintex Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company claims to pursue a balanced growth strategy through both capacity expansion and strategic acquisitions. It has agreed to acquire Falcon Yarns Private Limited, which is expected to increase its annual spinning capacity from 7,700 MT to 17,457 MT and expand its presence across the cotton yarn value chain.
The company has established long-standing relationships with certain customers and channel partners over more than a decade of operations. Around 14 customers have been associated with the company for over five years, while customers such as 7 Seas Impex and Elkins Tradelink Limited have contributed a significant portion of product sales across multiple years.
The company claims to benefit from the strategic location of its manufacturing facility at Halvad, Morbi, Gujarat, near key cotton-growing regions and major logistics infrastructure. It also claims to have adequate storage facilities and approximately 35,365 sq. m of vacant land available for future expansion, supporting operational flexibility and capacity growth.
The company claims to have invested in renewable energy infrastructure comprising a 1 MW rooftop solar plant, a 4 MW ground-mounted solar plant, and a 2.7 MW wind power plant. These facilities reportedly meet around 80% of its power requirements, helping reduce dependence on conventional electricity and lowering energy costs. During the nine months ended December 31, 2025, captive power generation resulted in savings of Rs 6.37 crore, reducing power expenses by 58.40%.
The company has reported growth in both revenue and profitability in recent years. Revenue from operations increased by 15.19% from Rs 304.86 crore in FY24 to Rs 351.16 crore in FY25, while profit after tax margins improved from 5.34% in FY24 to 6.53% in FY25, compared with 0.44% in FY23.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 239.26 crore in FY23 to Rs 304.86 crore in FY24 to Rs 351.16 crore in FY25, while PAT increased from Rs 1.06 crore in FY23 to Rs 16.29 crore in FY24 to Rs 22.91 crore in FY25.
A significant portion of the IPO proceeds is proposed to be utilised for the acquisition of Falcon Yarns Private Limited, exposing the company to acquisition execution and valuation risks. The company intends to deploy Rs 111.51 crore from the issue proceeds towards acquiring 33,453,508 equity shares of Falcon at Rs 33.33 per share, which is substantially higher than the buyback price of Rs 14.46 per share at which Falcon repurchased 1.15 crore shares for an aggregate consideration of Rs 16.70 crore in September 2024. Any failure to realise the expected benefits from the acquisition or any adverse developments at Falcon could affect returns on investment and future profitability.
The company has filed multiple compounding applications relating to historical non-compliances under the Companies Act, 2013, which could expose it to regulatory actions and penalties. These non-compliances pertained to provisions relating to uniform call on shares, appointment of directors, appointment of a whole-time company secretary, and corporate social responsibility obligations across various years from FY15 to FY23. Although no penalties have been imposed as of the date of the Red Herring Prospectus, any adverse orders, monetary penalties, or recurrence of such lapses could adversely affect the company's reputation, financial condition, and operations.
The company had failed to appoint an internal auditor in accordance with Section 138 of the Companies Act, 2013, during FY22 to FY24 and has subsequently sought adjudication from the Registrar of Companies. While the lapse has been rectified through the appointment of Zapda & Associates as internal auditor, no regulatory notices have been issued as of the date of the Red Herring Prospectus. Any future penalties, regulatory actions, or additional governance-related lapses may adversely affect the company's reputation, financial condition, and business operations.
The company is significantly dependent on 7 Seas Impex for sales outside Gujarat and export markets. Sales routed through 7 Seas Impex accounted for Rs 71.41 crore (22.99%) in the period ended December 31, 2025, Rs 116.46 crore (33.88%) in FY25, Rs 162.02 crore (54.73%) in FY24, and Rs 156.49 crore (66.61%) in FY23. Any disruption in this arrangement or loss of the reseller could materially affect the company's access to customers outside Gujarat, exports, revenue visibility, and overall financial performance.
The company and its promoters are involved in certain ongoing criminal and tax proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
The company reported negative cash flows from operating activities of Rs 13.55 crore in the period ended December 31, 2025, and Rs 18.13 crore in FY25, primarily driven by higher working capital deployment and operational cash outflows, compared with positive operating cash flows of Rs 12.93 crore in FY24 and Rs 15.47 crore in FY23. The company also recorded negative cash flows from investing activities of Rs 0.33 crore in the period ended December 31, 2025, Rs 0.36 crore in FY25, Rs 3.94 crore in FY24, and Rs 27.84 crore in FY23, primarily on account of investments and capital expenditure. Further, negative cash flows from financing activities amounted to Rs 8.66 crore in FY24 due to repayment of borrowings. Continued negative cash flows could adversely affect the company's liquidity, financial flexibility, and ability to fund future growth.
The company has contingent liabilities amounting to Rs 2.39 crore as of December 31, 2025. If any of these contingent liabilities materialise, it could cause stress to the company’s finances.
As of FY25, the company’s trade receivables were Rs 45.34 crore. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
As of the period ended December 31, 2025, the company had outstanding financial indebtedness of Rs 103.87 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Application details
For Aastha Spintex IPO, eligible investors can apply as Regular.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Regular | ₹125 - ₹136 | Upto ₹2 Lakhs | 110 |
| High Networth Individual | ₹125 - ₹136 | ₹2 - ₹5 Lakhs | 110 |
About
Objective of Aastha Spintex IPO Proceeds
|
Particulars |
Estimated Amount (in ₹ Cr.) |
|
Part payment of the purchase consideration for the acquisition of Falcon Yarns Private Limited |
111.51 |
|
Inter-corporate deposits for funding working capital requirement of Falcon Yarns Private Limited |
10.00 |
|
General Corporate Purposes |
[.] |
|
Total |
[.] |
Book Running Lead Managers & Registrar of Aastha Spintex IPO
|
Book Running Lead Managers |
BOI Merchant Bankers Limited and PNB Investment Services Limited |
|
Registrar to the Issue |
Bigshare Services Private Limited |
Key Performance Indicators (KPIs) of Aastha Spintex Limited
|
KPI |
Value (for the period ended December 31, 2025) |
|
ROE (%) |
12.80 |
|
ROCE (%) |
12.13 |
|
EBITDA Margin (%) |
11.25 |
|
Debt/Equity Ratio |
0.66 |
|
PAT Margin (%) |
5.60 |
|
EPS (Basic) (Pre IPO) (₹) |
7.24 |
|
Return on Net Worth (RoNW) (%) |
11.46 |
|
Net Asset Value (NAV) per Equity Share (₹) |
50.53 |
Aastha Spintex IPO Contact Details
|
Company Name |
Aastha Spintex Limited |
|
Registered Office |
Survey No. 1441, 1442, 1448/1, 1449, 1450/2 P2 & 1443/P2, Halvad-Maliya Highway, Halvad, Surendranagar – 363330, Gujarat, India |
|
Phone |
+91 90815 35400 |
|
|
|
|
Website |
Aastha Spintex IPO Registrar Contact Details
|
Company Name |
Bigshare Services Private Limited |
|
Phone |
+91 226 263 8200 |
|
|
|
|
Website |