Aastha Spintex IPO subscribed 3 times so far on Day 3; check allotment date and steps

The initial public offering of Aastha Spintex Ltd has been subscribed 3 times so far on the third day of bidding on Wednesday.

The IPO, with a price band of ₹125 to ₹136 per share, got bids for 4,07,55,330 shares against 1,36,00,000 shares on offer, according to the data available on the NSE website until 1:15 pm.

The part reserved for non-institutional investors (NIIs) was subscribed 5.26 times times. The retail investors' quota was booked 1.71 times, while the qualified institutional buyers’ (QIBs) portion was subscribed 1.04 times.

The ₹170 crore initial share sale is exclusively a fresh issuance of 1.25 crore shares. A lot consists of 110 shares.

The money raised will be used for part payment for the acquisition of Falcon Yarns, funding the working capital needs of the acquired company through intercorporate deposits and for corporate general purposes.

"The proposed IPO will further accelerate our growth strategy by supporting the acquisition of Falcon Yarns Private Ltd and enhancing our manufacturing capabilities," Aastha Spintex Promoter Chairman and Managing Director Patel Divyang Jashvantbhai said.

Aastha Spintex manufactures and trades carded, combed and compact combed cotton yarns, cotton bales and related by-products.

Aastha Spintex IPO allotment and listing date

Aastha Spintex IPO allotment is expected to be finalised on July 2. Shares of the company are scheduled to be listed on the BSE and the NSE on July 6.

How to check Aastha Spintex IPO allotment status on NSE

• Go to NSE’s allotment status link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select 'Equity & SME IPO bid details'
• Choose 'Aastha Spintex' under the symbol 'AASTHA'
• Enter your PAN details and application number
• Press the 'Submit' button

Steps to check Aastha Spintex IPO allotment status on Bigshare Services

• Open this link: www.bigshareonline.com/ipo_Allotment.html
• Select any server from the 3 options
• Click on 'Aastha Spintex Ltd' from the list
• Enter any of these: Application number, beneficiary ID, or PAN
• Click the ‘Search’ button

Aastha Spintex GMP

According to investorgain.com and media reports, unlisted shares of Aastha Spintex were trading at ₹143 per share, reflecting a grey market premium (GMP) of 5.15% or ₹51.50 over the upper price band of ₹136.