Aastha Spintex IPO Secures Strong Initial Interest; NII Leads as GMP Hints at Premium Listing

Aastha Spintex IPO Secures Strong Initial Interest; NII Leads as GMP Hints at Premium Listing​

Aastha Spintex, a textile manufacturer, is set to list on the stock exchanges after witnessing solid demand for its initial public offering (IPO) so far. The company's shares command a grey market premium (GMP), suggesting potential gains upon listing.

The IPO garnered positive attention from non-institutional and anchor investors ahead of the final subscription date. This indicates strong industry confidence in the spun and combed cotton yarn producer.

Subscription Details and Investor Interest​

Aastha Spintex’s public issue has been subscribed at 52 percent as of the first day of bidding. The offering included a total of 1.36 crore shares. Bidders purchased 71.12 lakh shares against the offer size.

Non-institutional investors (NII) demonstrated significant interest, achieving an 87 percent subscription. This robust response suggests institutional market faith in the company's trajectory. The Qualified Institutional Buyers (QIB) portion was subscribed at 36 percent.

Retail individual investors (RII) contributed to the demand, receiving a 26 percent subscription. Earlier, Aastha Spintex had already raised Rs 170 crore from anchor investors before the public issue commenced.

Grey Market Premium and Listing Expectations​

Platforms tracking grey market activity have indicated that the company’s shares are currently commanding a GMP of approximately 4 percent. Investorgain pegged this premium at Rs 5 per share, which could translate to a listing gain estimated at 3.68 percent. IPO Watch independently estimated the GMP at 3.67 percent.

The public issue maintains a price band ranging from Rs 125-136 per equity share. Prospective investors have until July 1 to complete their subscriptions for Aastha Spintex.

Financial Performance and Business Scope​

Aastha Spintex specializes in manufacturing and trading carded, combed and compact combed cotton yarns, cotton bales, and related by-products. The company operates from its integrated spinning and ginning facility located at Halvad in Gujarat's Morbi district.

The company’s financials for the last fiscal year demonstrated stability. For FY25, Aastha Spintex reported a revenue of Rs 351.16 crore, alongside a profit after tax of Rs 22.92 crore. For the nine months ending December 2025, the firm posted revenues totaling Rs 313.29 crore and a profit after tax of Rs 17.56 crore.

IPO Proceeds Allocation and Listing Date​

The proceeds generated from this public issue are earmarked for specific corporate requirements. A portion will be used toward making part payment for the acquisition of Falcon Yarns Pvt Ltd.

Additionally, funds will support the working capital needs of the acquired company through inter-corporate deposits. The remaining allocation is designated for general corporate purposes.

Aastha Spintex is scheduled to list its shares on both the BSE and NSE on July 6.