Aastha Spintex IPO opens today: Should you apply? Check price band, GMP, reviews & more

The initial public offering (IPO) of Aastha Spintex opens for bidding on Monday, June 29, 2026. The company shall be offering its shares in the range of Rs 125-136 apeice, and investors can apply for a minimum of 110 equity shares and its multiples thereafter. The issue will close for bidding on Wednesday, July 01.

The IPO of Aastha Spintex is entirely a fresh share sale of 1.25 crore equity shares, eyeing to raise a total of Rs 170 crore from its maiden stake sale. The net proceeds from the issue shall be utilized towards part payment of the purchase consideration for the acquisition of Falcon Yarns, inter-corporate deposits for funding working capital requirement and general corporate purposes.

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 acquisition of Falcon Yarns is expected to more than double spinning capacity from 7,700 MT to 17,457 MT per annum, supporting future revenue growth. The business remains exposed to cotton price volatility, dependence on a single manufacturing facility, and customer concentration outside Gujarat through a reseller, said Swastika Investmart.

Revenue grew from to Rs 351 crore in FY25, while PAT surged from to Rs 23 crore, reflecting a strong turnaround.  Investments in solar and wind power now meet around 80% of energy needs, helping reduce power costs and improve profitability. The IPO appears reasonably valued considering its growth profile and improving margins," it added with a 'subscribe for long-term' rating.

Aastha Spintex's cotton bales are utilized both for captive production of cotton yarns and for supply to other spinning units and the cotton yarns produced are used in both knitting and weaving applications, catering to a wide spectrum of end-use segments and products, including denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear, home textiles, and industrial fabrics.

Aastha Spintex manufactures cotton bales, which are then consumed captively to produce cotton yarns. The cotton yarns produced by the company  are then sold to textile manufacturers, yarn exporters, bulk purchasers. It has demonstrated healthy financial performance with revenue, EBITDA and PAT growing at a CAGR of 21 per cent , 88 per cent and 365 per cent , respectively between FY23-25, said SBI Securities.

"The acquisition of Falcon Yarns shall aid in expanding the company’s manufacturing scale, while broadening customer base and improving market positioning. The issue is valued at a P/E of 21.9 times based on annualized 9MFY26 PROFORMA earnings on a post‑issue basis, which is expensive relative to peers. We assign a 'neutral' rating and would like to track the performance post listing," it added.

Aastha Spintex reported a net profit of Rs 17.56 crore, with a revenue of Rs 314.02 crore for the nine-months ended on December 31, 2025. The company clocked a net profit at Rs 22.92 crore with a revenue of Rs 352.17 crore for the financial year 2024-25. As of the current valuations, the company is commanding a market capitalization more than Rs 600 crore.

Aastha Spintex is a Gujarat-based integrated textile manufacturer engaged in producing cotton yarns and cotton bales through its spinning and ginning facility in Morbi. Backed by India's growing textile sector and strategic proximity to cotton-producing regions, it reported revenue of Rs 351.16 crore and PAT of Rs 23.5 crore in FY25, said Ventura Securities. 

"It manufactures 100 per cent cotton yarns for applications across apparel and home textiles. Aastha plans to use its Rs 170-crore IPO proceeds to acquire Falcon Yarns, repay debt and fund working capital. The acquisition is may more than double its spinning capacity, strengthening its long-term growth prospects," it added with a 'subscribe' rating.

Aastha Spintex has reserved 20 per cent of the for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) and retail investors will get 40 per cent allocation each. Before the issue opened for biddings, Aastha Spintex was commanding a grey market premium (GMP) of Rs 4-5 apiece, suggesting an upto 4 per cent listing pop for the investors.

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. Shares of the company shall be listed on both BSE and NSE with July 06, Monday as the tentative date of listing.