The initial public offering (IPO) of Aastha Spintex was subscribed 4.64 times on the final day of bidding on Wednesday, with the non-institutional investor (NII) segment attracting the strongest demand.
The NII portion was subscribed 7.62 times, while the qualified institutional buyers (QIB) category was booked 3.30 times. The retail investor portion received 2.33 times subscription
The company has fixed a price band of ₹125-136 per equity share for its ₹170-crore public issue.
According to the company, the proceeds from the IPO will be used towards part payment for the acquisition of Falcon Yarns Pvt Ltd, funding the working capital requirements of the acquired company through inter-corporate deposits and for general corporate purposes.
“The proposed IPO will further accelerate our growth strategy by supporting the acquisition of Falcon Yarns Private Ltd and enhancing our manufacturing capabilities,” Patel Divyang Jashvantbhai, Promoter, Chairman and Managing Director of Aastha Spintex, said.
Aastha Spintex manufactures and trades carded, combed and compact combed cotton yarns, cotton bales and related by-products from its integrated spinning and ginning facility at Halvad in Gujarat’s Morbi district.
BOI Merchant Bankers and PNB Investment Services were the book-running lead managers for the issue.
The company’s shares are tentatively scheduled to be listed on the BSE and NSE on July 6.
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Published on July 1, 2026
