The initial public offering (IPO) of Aastha Spintex, a manufacturer of cotton yarns and bales, which opened on June 29, will close for subscription today. The book-build issue worth Rs 170 crore is an entirely fresh issue of 1.25 crore shares.
Ahead of its listing, anticipation is building around the issue's grey market premium (GMP) trends, which indicate early investor sentiment and possible listing expectations. The current GMP suggests positive listing gains for the shares of Aastha Spintex as listing day draws closer.
Here's all the latest information regarding the mainboard IPO of Aastha Spintex.
Aastha Spintex IPO GMP
The latest GMP for Aastha Spintex IPO is Rs 6.25 on July 1. Based on the upper price band of Rs 136, the estimated listing price is Rs 142.25 (GMP + upper price). This suggests an expected gain of about 4.6% per share at listing.
The GMP for the mainboard IPO has remained positive and has shown slight gains as subscription enters its final day.
Note: GMP does not represent official data and is based on speculation.
Aastha Spintex IPO: Latest Subscription Numbers, Price Band And More
The Aastha Spintex IPO has a price band of Rs 125 to Rs 136 per share, with each application lot size consisting of 110 shares. The minimum retail investment required is Rs 14,960 at the upper price band.
The IPO was subscribed 1.48 times on the second day of bidding with investors bidding for 2,01,84,670 shares against the 1,36,00,000 shares on offer. The initial demand for the Aastha Spintex IPO is led by non-institutional investors who subscribed their quota 2.28 times. QIB and retail investors quota was booked 94% and 96% respectively.
BOI Merchant Bankers Ltd. is the book running lead manager and Bigshare Services Pvt. Ltd. is the registrar of the issue.
Aastha Spintex IPO: Important Dates
The subscription for the IPO will conclude on July 1. The IPO allotment status is expected on July 2, while listing is scheduled for July 6 on NSE and BSE.
About Aastha Spintex
Incorporated in 2013, Gujarat-based Aastha Spintex Ltd. manufactures and trades carded, combed, and compact cotton yarns along with cotton bales. Its products serve both captive use and external spinning units, catering to applications in denim, textiles, garments, home furnishings and industrial fabrics.
For the period ended March 31, 2025, Aastha Spintex reported total income at Rs 352.17 crore from Rs 305.67 crore in the previous year. EBITA increased to Rs 46.36 crore from Rs 34.25 crore. Profit after tax (PAT) also improved to Rs 22.92 crore, up from Rs 16.29 crore in FY24.
The IPO proceeds will be used for payment towards the acquisition of Falcon Yarns Private Ltd., working capital support and general corporate purposes.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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