Synopsis : Aastha Spintex made a weak stock market debut, listing at a 4.4% discount to its IPO price despite receiving 4.42 times overall subscription. The textile manufacturer plans to use the IPO proceeds for working capital and general corporate purposes.
Aastha Spintex had a subdued debut on the stock exchanges, listing at Rs 130 per share on both the NSE and BSE, representing a 4.4% discount to its IPO issue price of Rs 136.
IPO details
The company raised Rs 170 crore through a fresh issue of approximately 1.25 crore equity shares. The public issue was open for subscription between June 29 and July 1, while the share allotment was completed on July 2.
Subscription demand
The IPO received an overall subscription of 4.42 times.
Among investor categories, the Non-Institutional Investor (NII) segment attracted the strongest interest, subscribing 8.29 times.
Qualified Institutional Buyers (QIBs) subscribed 3.59 times, while the retail investor category was subscribed 2.54 times.
Financial performance
For the first nine months of FY26 (up to Q3), Aastha Spintex reported total income of Rs 314.02 crore and net profit of Rs 17.56 crore.
For FY25, the company posted total income of Rs 352.17 crore, while net profit stood at Rs 22.92 crore.
Minimum investment
Retail investors were required to apply for a minimum lot size of 110 shares, translating into a minimum investment of Rs 14,960 at the upper end of the price band.
Purpose of the issue
The proceeds from the IPO will primarily be used to meet the company's working capital requirements, along with general corporate purposes.
Lead managers and registrar
BOI Merchant Bankers acted as the Book Running Lead Manager for the issue, while Bigshare Services served as the registrar.
About the company
Founded in 2013, Aastha Spintex manufactures and trades carded, combed and compact combed cotton yarns, along with cotton bales.
The company's cotton bales are used both for captive yarn production and external sales to other spinning mills. Its yarn products cater to a wide range of textile applications including denim, terry towels, shirting, sheeting, sweaters, socks, home textiles, bottom wear and industrial fabrics, serving both knitting and weaving industries.
Disclaimer : This article is intended solely for informational and educational purposes. The listing performance, subscription data and financial information presented are based on publicly available disclosures and should not be interpreted as investment advice or a recommendation to buy, sell or hold any security. Investments in IPOs and listed equities are subject to market risks and price volatility. Investors should conduct their own research and consult a SEBI-registered investment advisor before making any investment decisions.
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