Aastha Spintex shares decline over 4% in market debut trade; everything investors need to know

Shares of textile manufacturer Aastha Spintex on Monday, July 6, listed with a discount of over 4% against the issue price of ₹136.

The stock started trading at ₹130, down 4.41% from the issue price, on both the BSE and NSE.

The company's market valuation stood at ₹598.13 crore.

IPO details

The initial public offer of Aastha Spintex was subscribed 4.64 times on the final day of bidding on Wednesday last week. The part reserved for non-institutional investors (NIIs) was subscribed 5.26 times. The retail investors' quota was booked 1.71 times, while the qualified institutional buyers’ (QIBs) portion was subscribed 1.04 times.

With a price band of ₹125-136 per equity share, the ₹170 crore initial share sale was exclusively a fresh issuance of 1.25 crore shares, and a lot consisted of 110 shares.

BOI Merchant Bankers and PNB Investment Services were the book-running lead managers of the issue, while Bigshare Services serves as the registrar.

IPO objective

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.

About the firm

Aastha Spintex makes and trades combed, carded, and compact combed cotton yarns and cotton bales. The company's cotton bales are used for captive manufacturing of cotton yarns and for supply to other spinning units.

The cotton yarns are used in both knitting and weaving applications for an array of end-use segments and products, including denim, shirting, socks, sheeting, sweaters, home textiles, terry towels, bottom wear and industrial fabrics.

For the financial year 2024-25, the company posted revenue of ₹351.16 crore and a net profit of ₹22.92 crore. For the nine months ended December 2025, it reported revenue of ₹313.29 crore and a profit after tax (PAT) of ₹17.56 crore.