Aastha Spintex IPO

About Aastha Spintex IPO

Aastha Spintex Limited is set to launch its IPO for public subscription on June 29, 2026, and will remain open until July 1, 2026.

The price band of the Aastha Spintex IPO is ₹125 to ₹136 per equity share. The allotment is expected to be finalised on July 2, 2026. The IPO will be listed on both the BSE and NSE on July 6, 2026.

The Aastha Spintex IPO issue is a ₹170 crore book-building issue, comprising entirely of a fresh issue of up to 1,25,00,000 equity shares with a face value of ₹10 each. Since this is a 100% fresh issue with no OFS, the company will receive all proceeds directly.

Business Overview of Aastha Spintex

Aastha Spintex Limited, incorporated in August 2013 and headquartered in Halvad, Morbi, Gujarat, is a manufacturer and trader of carded, combed, and compact combed cotton yarns and cotton bales. The company operates exclusively in the B2B segment, supplying textile manufacturers, yarn exporters, bulk purchasers, and fabric processors.

The company produces 100% cotton yarns in counts ranging from Ne 26 to Ne 40, which are used across knitting and weaving applications for end-use segments including denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear, home textiles, and industrial fabrics.

Aastha Spintex operates a semi-automated, integrated spinning and ginning facility spread across 65,762 sq. mtr. in Halvad, Morbi, Gujarat (located in one of India's major cotton-growing regions). 

Aastha Spintex has over 250 customers, including 14 long-term relationships of 5+ years, and holds GOTS and OEKO-TEX certifications. As of December 31, 2025, the company had 205 employees, with women comprising approximately 70% of the workforce.

Aastha Spintex IPO Date, Price, and Other Details

The following are the details of the upcoming IPO of Aastha Spintex.

Aastha Spintex IPO Reservation: Who Can Apply?

The Aastha Spintex IPO has the following investor category reservations:

Strengths and Risks of Aastha Spintex IPO

With every business owning its strengths and risks, even the Aastha Spintex IPO has its potential plus points and downsides to be aware of.

Here is a brief business analysis (as per RHP) below:

Strengths

• Aastha Spintex has an Integrated ginning and spinning under one roof, enabling operational control across the entire production chain.
• Approximately 80% of power comes from in-house renewable energy (solar + wind), cutting power costs by ~45% since FY23.
• Spinning capacity utilisation stood at 96.57% in FY25, indicating the facility is running near full capacity.
• GOTS and OEKO-TEX certified, providing access to quality-conscious domestic and international buyers.
• Falcon Yarns acquisition will more than double total capacity from 7,700 MT to 17,457 MT per annum.

Risks

• ₹111.51 crore of the ₹170 crore IPO proceeds are earmarked for the Falcon Yarns acquisition, leaving limited capital for organic expansion.
• The company operates from a single manufacturing facility. Any disruption could halt production entirely.
• Approximately 96.69% of 9M FY26 product sales came from Gujarat alone, reflecting extreme geographic concentration.
• All sales outside Gujarat and 100% of exports are routed through a single reseller, 7 Seas Impex.
• Cotton is a seasonal crop, forcing the company to procure and store large quantities in advance, tying up working capital.
• The textile spinning sector is highly competitive and fragmented, with multiple established players.
• Negative operating cash flows were reported despite profitability — ₹31.69 crore outflow over FY25 and 9M FY26 combined.

Future Plans/Strategies

• Complete the acquisition of Falcon Yarns to more than double spinning capacity and strengthen market position.
• Fund Falcon Yarns' working capital through inter-corporate deposits from IPO proceeds.
• Continue leveraging renewable energy infrastructure to maintain cost advantages.
• Expand customer base beyond Gujarat and diversify geographic revenue mix.
• Listing on exchanges to enhance brand visibility and access public capital markets.

Aastha Spintex IPO Objectives – How Will the Funds Be Used?

The Aastha Spintex IPO is a 100% fresh issue. The company will directly receive all the proceeds.

Note: The total acquisition cost for Falcon Yarns is ₹131.51 crore (3,34,53,508 equity shares at ₹33.33 per share), of which ₹20 crore is to be paid from internal accruals.

Promoter Shareholding of Aastha Spintex IPO

The promoters of Aastha Spintex Limited include Patel Divyang Jashvantbhai, Rasiklal Valjibhai Patel, Gothi Vivek Rasiklal, and Jashwantbhai Valjibhai Patel.

Here’s a breakdown:

Financial Performance (₹ in crores) of Aastha Spintex IPO

Here's the table outlining the financial performance of Aastha Spintex Limited from FY 2023 to FY 2025 and up to 31st December, 2025. (in crores)

Key Performance Metrics of Aastha Spintex

Based on the financials available in the RHP, the following key performance metrics of Aastha Spintex Limited can be considered.

(Note: P/E, market capitalisation, and post-IPO NAV are subject to final pricing and allotment. Refer to the RHP for complete details.)

Registrar of Aastha Spintex IPO

The Registrar of Aastha Spintex IPO is Bigshare Services Pvt. Ltd.

Phone: +91 22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com

Lead Manager of Aastha Spintex IPO

In total, 2 lead managers are handling the IPO process of Aastha Spintex Limited:

• BOI Merchant Bankers Ltd.
• PNB Investment Services Ltd.