Aastha Spintex IPO GMP Today, Review & Allotment Status

Aastha Spintex Limited opened its IPO for public subscription on June 29, 2026. The issue closes on July 2, 2026, with listing expected on BSE and NSE on July 6, 2026.

The company is raising Rs 170 crore through a 100% fresh issue of 1.25 crore equity shares at a price band of Rs 125 to Rs 136 per share. There is no Offer for Sale component, which means all proceeds go directly into the business.

The key highlight of this IPO is the planned acquisition of Falcon Yarns Private Limited, which will more than double Aastha's spinning capacity at roughly 40-45% below the cost of building a comparable new facility.

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Aastha Spintex IPO Key Details

Aastha Spintex IPO GMP Today

Current GMP: Rs 5 per share (as of June 29, 2026)

Based on the current grey market premium of Rs 5, the estimated listing price works out to Rs 141 per share, implying a listing gain of approximately 3.68% over the upper price band of Rs 136.

The GMP has been stable over the past week, ranging between Rs 4 and Rs 5.25. This steady, low-premium profile suggests the grey market is treating this as a medium to long-term value play rather than a short-term listing gain trade.

7-Day GMP Trend

Disclaimer: GMP is an informal, unregulated market indicator based on grey market activity. It does not guarantee actual primary stock exchange trading floor results.

For continuing premium movements, check the IPOwiz Live GMP Tracker.

Aastha Spintex IPO Subscription Status

Subscription data will be updated as figures are released during the bidding window (June 29 to July 1, 2026).

The issue is open today. Retail participation and QIB demand on Day 2 and Day 3 will be the key indicators to watch. Given the strong financial profile and the Falcon Yarns acquisition story, institutional interest will be closely monitored.

Aastha Spintex IPO Lot Size and Investment Amount

Aastha Spintex IPO Reservation Structure

The retail portion can accommodate up to 45,454 unique allottees at the minimal configuration layer.

About Aastha Spintex Limited

Aastha Spintex is a Gujarat-based cotton yarn manufacturer operating out of Halvad, Morbi. The company has been in operation for 13 years and currently runs a spinning facility with an installed capacity of 7,700 metric tonnes per annum. It produces cotton yarn for domestic and export markets, with a significant portion of its export sales routed through 7 Seas Impex.

Falcon Yarns Acquisition: The Core Growth Driver

The most significant use of IPO proceeds is the acquisition of Falcon Yarns Private Limited, a spinning plant in Gondal, Rajkot. Key acquisition variables include:

• Acquisition cost: Rs 111.51 crore (approximately 66% of total IPO proceeds)
• Falcon Yarns installed capacity: 9,757 metric tonnes per annum
• Combined capacity post-acquisition: 17,457 MT per annum (a 2.27x increase)
• Acquisition cost vs. replacement cost: Estimated 40-45% discount to building a comparable new facility

In addition, Rs 10 crore has been allocated as inter-corporate deposits to fund Falcon Yarns' working capital requirements post-acquisition. The brownfield acquisition route eliminates the 2-3 year construction timeline associated with greenfield expansion and brings in an operational plant, existing customers, and immediate revenue contribution.

Aastha Spintex IPO: Use of Proceeds Matrix

Aastha Spintex Financial Performance

The company exhibits highly consistent expansion parameters across restated historical income indices:

Total Income (Consolidated, Restated)

Net Profit (PAT)

Net profit grew from Rs 1.06 crore in FY23 to Rs 22.92 crore in FY25, a 22-fold increase over two years. The nine-month figure of Rs 17.56 crore for FY26 indicates this momentum is continuing.

Key Financial Ratios

• EBITDA: Rs 46.36 Cr (FY25) | Rs 35.25 Cr (9M FY26)
• EBITDA Margin: 13.20% (FY25) | ~11.2% (9M FY26)
• Return on Equity (ROE): 23.21% (FY25) | 12.80% (9M FY26 non-annualised)
• Return on Capital Employed (ROCE): 18.89% (FY25) | 12.13% (9M FY26)
• Debt to Equity Ratio: 0.79x (FY25) | 0.66x (9M FY26)

EBITDA margins expanded significantly from 4.84% in FY23 to 13.20% in FY25, driven largely by the company's captive renewable energy setup and improved capacity utilisation parameters.

Renewable Energy Advantage: 7.7 MW Captive Power Setup

Energy costs are a major variable in cotton spinning operations. Aastha Spintex has built a 7.7 MW captive renewable energy portfolio at its Halvad facility to create structural margin protection.

Power Portfolio Breakdown:

• Ground-mounted solar assets: 4.0 MW
• Wind power installation nodes: 2.7 MW
• Rooftop solar systems: 1.0 MW

This custom layout satisfies approximately 80% of the core facility's electricity grid consumption and has reduced aggregate power tariff rates by an estimated 45%. In an industrial framework where power traditionally weights out 10-12% of total revenues, this serves as an explicit cost moat. The company has also allocated Rs 9 crore from general corporate lines to further expand this green power profile.

Aastha Spintex IPO Valuation Analysis & Peers

At the upper price boundary cap of Rs 138, the post-issue Price-to-Earnings (P/E) multiple scales out to **25.65x** on FY25 earnings parameters. Here is how the structural metrics layer against currently listed comparables:

Aastha commands a structural premium relative to Lagnam and Ambika Cotton models. However, its baseline Return on Net Worth (RoNW) footprint of 18.93% surfaces significantly higher than immediate trading comparables. Note that these metrics do not yet reflect incoming revenue and margin inputs from Falcon Yarns asset integrations. The pre-issue P/E based on standalone historical earnings tracks down to 18.78x.

Aastha Spintex: Key Risks to Consider

Macro Tailwinds: Global supply diversification programs moving volume out of China are routing major direct textile allocation accounts toward specialized Indian players. Local state initiatives project an absolute textile footprint expansion up to a $350 billion threshold by 2030. Furthermore, the company's Morbi facility offers geographic proximity to high-output raw cotton crop belts, mitigating inward transit logistics fees.

Key Internal Risk Factors:

Should You Apply for Aastha Spintex IPO? Final Verdict

Our Verdict: Subscribe (Medium to Long-Term Horizon)

The fundamental investment thesis rests on three independent pillars: First, the 100% fresh issue format protects against secondary market overhang by ensuring all incoming capital sets into balance sheet growth rather than promoter capitalization. Second, the brownfield acquisition of Falcon Yarns at a steep 40-45% replacement markdown offers immediate, asset-backed capacity duplication without the long multi-year lag of construction cycles. Third, underlying operational efficiency (RoNW at 18.93%) outpaces the sector average, keeping the 25.65x valuation reasonable.

Given the conservative current GMP of Rs 5, short-term flipping margins appear tightly bounded. Accounts seeking immediate capital-gain flips may find thin margins of safety here. However, multi-quarter long positions are backed by a cash-generative model carrying an structural utility cost advantage through mature captive green power assets.

Aastha Spintex IPO Allotment Status: How to Check

Allocation ledgers finalize on July 2, 2026. Account unblocking and clearing processes settle on July 3, 2026. Accounts can query status through three nodes:

Frequently Asked Questions