Aastha Spintex IPO allotment: Step-by-step guide to check status, latest GMP & more

Aastha Spintex is scheduled to finalize the basis of allotment of its shares on Thursday, July 02. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate by Friday, July 03 or latest by the weekend. The cotton yarn and cotton bales maker saw a mixed response from the investors.

The IPO of Aastha Spintex was open for bidding between June 29 and July 01. It had offered its shares in the price band of Rs 125-136 per share with a lot size of 110 shares. The company raised a total of Rs 170 crore from its IPO, which was entirely a fresh share sale of 1,25,00,000 equity shares.

The issue was subscribed 4.64 times, attracting bids worth around Rs 860 crore via nearly 1.12 lakh applications. The quota for non-institutional investors (NIIs) was subscribed a 7.62 times, while the allocation for retail investors was subscribed 2.33 times. The portion for qualified institutional bidders (QIBs) was booked 3.30 times.

Incorporated in 2013, Aastha Spintex is engaged in the business of manufacturing and trading of carded, combed and compact combed cotton yarns and cotton bales. It has a semi-automated and integrated spinning and ginning Manufacturing Facility situated at Halvad, Morbi, Gujarat.

The grey market premium (GMP) of Aastha Spintex has seen sudden and sharp corrections, even decent bidding and rebound in the market sentiments. Last heard, the company was commanding a discount of Rs 3-4 apeice, suggesting a flat listing for the investors. However, its GMP stood around Rs 6-7 during the bidding period.

BOI Merchant Bankers and PNB Investment Services are the book running lead managers for the Aastha Spintex and Bigshare Services is the registrar of the issue. Credit of shares and/or initiation of refund shall be done on Friday, July 03. Shares of the company shall be listed on both BSE and NSE with Monday, July 06 as the date of listing.

Investors, who had bid for the issue of Aastha Spintex IPO, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Aastha Spintex Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also

• Visit https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘AASTHA’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of Bigshare Services Limited (https://ipo.bigshareonline.com/IPO_Status.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

• Go to the web portal of Bigshare Services Private Limited
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You shall be required to select either one of the three modes: Application number/CAF No, Beneficiary ID, or PAN ID.
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit Search to know your allotment status.