From Issue Details to Financials; Here’s What You Need to Know

Synopsis: Aastha Spintex Limited’s ₹170 crore IPO opens on June 29, 2026. Backed by strong financial growth and integrated textile operations, the company aims to fund acquisitions and business expansion.

Aastha Spintex Limited is launching its Initial Public Offering (IPO) to raise funds to meet working capital requirements and pay the purchase consideration for the acquisition. The ipo size aggregates up to Rs. 170 crore, comprising a fully fresh issue of 1.25 crore equity shares totalling Rs. 170 crore.

Aastha Spintex Limited’s IPO price band is set at Rs. 125 to Rs. 136 per share. The IPO opens for subscription on June 29, 2026, and closes on July 1, 2026. The shares will be listed on the NSE and BSE on Monday, July 6, 2026. Here’s everything you need to know.

GMP of Aastha Spintex Limited IPO

As of June 25th, 2026, the shares of Aastha Spintex Limited in the grey market were trading at a 2.94 percent premium. The shares in the Grey Market traded at Rs. 140. This gives it a premium of Rs. 4 per share over the cap price of Rs. 136. 

Overview of Aastha Spintex Limited

Aastha Spintex Limited was incorporated in 2013 and is engaged in the manufacturing and trading of cotton yarns and cotton bales. The company produces different types of cotton yarns, including carded, combed, and compact combed yarns, which are widely used in the textile industry.

The company’s cotton yarns are used in both knitting and weaving applications. These products are used to make a variety of textile items such as denim, towels, shirts, bed sheets, sweaters, socks, home textiles, and industrial fabrics, serving a wide range of customer needs.

Aastha Spintex also manufactures cotton bales, which are used in its own yarn production process and supplied to other spinning units. In addition, the company generates cotton yarn waste during production, which is reused for different applications within the textile sector.

The company operates a semi-automated and integrated spinning and ginning facility located in Halvad, Morbi, Gujarat. As of December 31, 2025, Aastha Spintex Ltd. employed 205 people across various departments, supporting its manufacturing and business operations.

The promoters of the company are Patel Divyang Jashwantbhai, Rasiklal Valjibhai Patel, Gothi Vivek Rasiklal, and Jashwantbhai Valjibhai Patel. The promoters possess significant experience in textile manufacturing and business operations. They actively participate in the company’s strategic and operational decisions.

Aastha Spintex Limited Selling Shareholders

There is no Offer for Sale component in the IPO. Therefore, no promoter or investor shareholder is selling shares through the issue. The entire IPO consists of a fresh issue of equity shares.

Lead Managers of Aastha Spintex Limited IPO

BOI Merchant Bankers Limited and PNB Investment Services Limited are acting as the Book Running Lead Managers. Bigshare Services Private Limited is the registrar of the issue.

Objectives of the IPO Offer

Aastha Spintex Limited proposes to utilize the net proceeds from the IPO for specific strategic business objectives. The company will allocate Rs. 111.51 crore towards part payment of the purchase consideration for the acquisition of Falcon Yarns Private Limited.

Additionally, Rs. 10 crore will be utilized as inter-corporate deposits to fund the working capital requirements of Falcon Yarns Private Limited. This investment is expected to strengthen the subsidiary’s operational capabilities and support future business growth.

The remaining proceeds will be utilized for general corporate purposes. These funds will support business expansion opportunities, operational requirements, and other corporate initiatives aimed at enhancing the company’s long-term growth prospects.

Financial Analysis of Aastha Spintex

Coming into financial highlights, Aastha Spintex Limited’s consolidated revenue from operations has increased from Rs. 304.86 crore in FY24 to Rs. 351.16 crore in FY25, which represents a growth of 15.19 percent. The company’s net profit has also grown by 40.70 percent from Rs. 16.29 crore in FY24 to Rs. 22.92 crore in FY25.

In the 9 months of FY26, Aastha Spintex Limited has reported a consolidated revenue from operations of Rs. 313.29 crore and a net profit of Rs. 17.57 crore. Aastha Spintex Limited has a PAT Margin of 5.60 percent and an EBITDA Margin of 11.25 percent. Further, Aastha Spintex Limited’s revenue and net profit have grown at a CAGR of 21.15 percent and 365.34 percent, respectively, over the last two years.

In terms of return ratios, the company’s ROE and ROCE stand at 12.80 percent and 12.13 percent, respectively. Aastha Spintex Limited has an earnings per share (EPS) of Rs. 7.24, and its debt-to-equity ratio is 0.66x.

Aastha Spintex Limited vs Peers

Aastha Spintex Limited reported revenue from operations of Rs. 351.16 crore in FY2025. The company reported an EPS of Rs. 8.29 and a RoNW of 18.93 percent. In comparison, Ambika Cotton Mills Limited reported revenue of Rs. 702.07 crore with an EPS of Rs. 114.83 and a RoNW of 7.27 percent. Lagnam Spintex Limited recorded revenue of Rs. 605.56 crore with an EPS of Rs. 7.28 and a RoNW of 10.64 percent.

Pashupati Cotspin Limited reported revenue of Rs. 636.70 crore with an EPS of Rs. 0.82 and a RoNW of 8.35 percent. Aastha Spintex Limited’s net asset value per share stands at Rs. 43.80. In comparison, Ambika Cotton Mills Limited reported Rs. 1,579.25, Lagnam Spintex Limited reported Rs. 68.41, and Pashupati Cotspin Limited reported Rs. 9.78.

Strengths of Aastha Spintex Limited

• Strong integrated cotton yarn manufacturing operations support operational efficiency and profitability.
• Large manufacturing capacity enables economies of scale and consistent product supply.
• Renewable energy investments reduce power costs and improve sustainability initiatives.
• Experienced promoter group drives growth through deep textile industry expertise.
• Modern semi-automated processes enhance quality standards and production efficiency.

Weaknesses of Aastha Spintex Limited

• Business depends heavily on volatile cotton prices and raw material availability.
• Textile industry remains highly competitive with pressure on pricing and margins.
• Revenue concentration in cotton products may limit diversification opportunities.
• High working capital requirements can impact liquidity during industry downturns.
• Export demand fluctuations may affect future growth and profitability prospects.

Conclusion

Aastha Spintex Limited IPO offers investors exposure to India’s growing textile manufacturing sector. The company benefits from integrated operations, renewable energy investments, and experienced promoters. Its improving financial performance supports future growth prospects. Investors should evaluate raw material risks, industry competition, and market conditions before subscribing to the IPO.

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