Aastha Spintex Limited, a manufacturer and trader of carded, combed, and compact combed cotton yarns and cotton bales, will open its Initial Public Offering (IPO) on Monday, June 29, 2026. The company aims to raise ₹170 crore at the upper price band, with shares to be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
IPO Details and Price Band
The IPO has a price band of ₹125 to ₹136 per share, with an issue size of ₹170 crore. The equity share allocation is as follows: Net Qualified Institutional Bidders (QIB) will receive not more than 20% of the issue, Non-Institutional Investors (NII) will receive not less than 40%, and Individual Investors will also receive not less than 40%.
The issue will open on June 29, 2026, and close on Wednesday, July 1, 2026. The Book Running Lead Managers for the issue are BOI Merchant Bankers Limited and PNB Investment Services Limited, while Bigshare Services Private Limited serves as the Registrar.
Use of IPO Proceeds
The net proceeds from the IPO will be utilized for part payment of the purchase consideration for the acquisition of Falcon Yarns Private Limited, inter-corporate deposits to fund the working capital requirements of Falcon Yarns Private Limited, and general corporate purposes.
Management Commentary
Mr. Patel Divyang Jashvantbhai, Promoter, Chairman & Managing Director of Aastha Spintex Limited, stated, "The opening of Aastha Spintex Limited's Initial Public Offering marks a defining moment in our journey. Over the years, we have built a significant foundation in the cotton yarn manufacturing industry through our unwavering focus on quality, operational excellence, and customer satisfaction. Our integrated manufacturing operations, supported by sustainable (renewable) energy initiatives, have enabled us to strengthen our market presence and deliver consistent performance. The proposed IPO will further accelerate our growth strategy by supporting the acquisition of Falcon Yarns Private Limited and enhancing our manufacturing capabilities."
Mr. Ripal M. Tandel, Managing Director of BOI Merchant Bankers Limited, commented, "Aastha Spintex Limited has established a significant presence in the cotton yarn manufacturing segment through its integrated operations, established raw material procurement network, focus on quality, and efficient manufacturing processes. The company has demonstrated consistent growth while strengthening its position across the textile value chain. The proposed IPO represents an important milestone in the company's growth journey and is aimed at supporting its strategic expansion plans, including the acquisition of Falcon Yarns Private Limited."
Mr. Mohammad Abid Siddiqui, Managing Director & CEO of PNB Investment Services Limited, added, "Aastha Spintex Limited is engaged in the manufacturing and trading of cotton yarns, cotton bales and cotton-related products. The Company operates its manufacturing facility in Halvad, Gujarat and serves customers across the textile industry. The Company is now entering a new phase of development with its proposed public issue. The proceeds of the issue are proposed to be utilized, among other things, towards the acquisition of Falcon Yarns Private Limited, which is expected to increase the scale of operations of the combined business."
Company Overview and Financial Performance
Aastha Spintex Limited operates a semi-automated and integrated spinning and ginning manufacturing facility in Halvad, Morbi, Gujarat. The company produces 100% cotton yarns across counts ranging from Ne 26 to Ne 40, and its cotton bales are used for captive production as well as supply to other spinning units. The yarns are supplied to textile manufacturers, yarn exporters, fabric processors, and end-use segments such as T-shirts, polo shirts, dress shirts, towels, bedsheets, jeans, and trousers.
The company has installed rooftop solar, ground-mounted solar, and wind power plants to meet captive power requirements, resulting in substantial cost efficiencies. During FY25, Aastha Spintex achieved a revenue of ₹35,116.02 lakhs, EBITDA of ₹4,636.18 lakhs, and PAT of ₹2,291.62 lakhs. For the nine-month period ended December 2025, the company reported revenue of ₹31,328.50 lakhs, EBITDA of ₹3,525.37 lakhs, and PAT of ₹1,755.62 lakhs.
