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What is the story about?
Textile manufacturer Aastha Spintex Ltd on Thursday (January 25) said it will launch its initial public offering (IPO) on June 29 to raise ₹170 crore. The public issue, with a price band of ₹125-136 per equity share, will remain open for subscription until July 1, according to a company statement.
Proceeds from the public issue 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 Limited and enhancing our manufacturing capabilities," Aastha Spintex Promoter Chairman and Managing Director Patel Divyang Jashvantbhai said.
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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.
For FY25, the company reported revenue of ₹351.16 crore and a profit after tax of ₹22.92 crore. For the nine months ended December 2025, it posted revenue of ₹313.29 crore and a profit after tax of ₹17.56 crore.
BOI Merchant Bankers and PNB Investment Services are the book-running lead managers to the issue. Shares of the company will be listed on the BSE and NSE.
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Proceeds from the public issue 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 Limited and enhancing our manufacturing capabilities," Aastha Spintex Promoter Chairman and Managing Director Patel Divyang Jashvantbhai said.
ALSO READ | Sathya Agencies, Kanohar Electricals, Torrent Gas secure Sebi's nod to float IPOs
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.
For FY25, the company reported revenue of ₹351.16 crore and a profit after tax of ₹22.92 crore. For the nine months ended December 2025, it posted revenue of ₹313.29 crore and a profit after tax of ₹17.56 crore.
BOI Merchant Bankers and PNB Investment Services are the book-running lead managers to the issue. Shares of the company will be listed on the BSE and NSE.
ALSO READ | Turtlemint Fintech IPO sails through on last day; subscribed 1.20 times
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