Aastha Spintex Limited is launching its Initial Public Offering (IPO) through the book-building route, with a total issue size of ₹170.00 crores. The offering consists solely of a fresh issue of 1.25 crore equity shares, allowing the company to raise capital directly from the market. No offer-for-sale component is included in this public issue.
The IPO subscription window will commence on June 29, 2026, and remain open until July 1, 2026. Based on the proposed schedule, the share allotment process is expected to be completed on July 2, 2026. Following the allotment, the company’s shares are likely to be listed on both the NSE and BSE, with a tentative listing date of July 6, 2026.
The price band for the issue has been fixed between ₹125 and ₹136 per equity share. Investors can apply in lots of 110 shares. At the upper end of the price band, the minimum investment required for retail investors is ₹14,960. For sNII applicants, the minimum application size is 14 lots comprising 1,540 shares, requiring an investment of ₹2,09,440. Meanwhile, bNII investors must apply for at least 67 lots, or 7,370 shares, amounting to ₹10,02,320. BOI Merchant Bankers Ltd. is managing the issue, while Bigshare Services Pvt. Ltd. has been appointed as the registrar.
(Source: RHP)
Company Overview
Aastha Spintex Limited operates in the manufacturing and trading of cotton-based products, primarily carded, combed, and compact combed cotton yarns, along with cotton bales.
Cotton bales produced by the Company are utilised for internal yarn manufacturing requirements as well as supplied to external spinning mills. The yarns manufactured serve both knitting and weaving industries and are used across diverse applications such as denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear, home textiles, and industrial fabrics.
The Company operates a semi-automated, integrated ginning and spinning facility located in Halvad, Morbi, Gujarat. It manufactures 100% cotton yarn in counts ranging from Ne 26 to Ne 40, including carded, combed, and compact combed variants. In the English Cotton Count System, a higher Ne value represents finer yarn.
The ginning process transforms raw cotton into cotton bales while generating cotton seeds and other by-products, which are sold to industries involved in oil extraction and animal feed production. Similarly, the spinning process produces cotton waste by-products such as comber, licker-in, and hard waste.
These materials are marketed to manufacturers of non-woven fabrics and open-end yarns. Non-sellable waste generated during yarn production remains minimal, ranging between 0.1% and 0.3% of total cotton yarn output.
(Source: RHP)
Industry Context
- The textile industry caters to apparel, home textiles, healthcare, and industrial applications. It combines traditional manufacturing practices with modern technologies, supporting innovation, efficiency, and sustainability. Growing adoption of advanced fibres and environmentally responsible production methods continues to drive industry development.
- Global textile trade remains a key component of international commerce. Major exporting countries include China, Bangladesh, Vietnam, and India. Strong manufacturing capabilities, raw material availability, and diversified product offerings support growth and competitiveness within the sector.
- Global textile exports increased from USD 305,507 million in CY 2019 to USD 353,267 million in CY 2021. Exports stood at USD 352,375 million in CY 2022, declined to USD 322,708 million in CY 2023, and recovered to USD 330,652 million in CY 2024, reflecting changing market conditions and demand trends.
- Global textile imports rose from USD 335,429 million in CY 2019 to USD 388,594 million in CY 2021. Imports remained at USD 387,613 million in CY 2022, declined to USD 354,979 million in CY 2023, and improved to USD 363,718 million in CY 2024 as trade activity stabilised.
- India ranked as the third-largest textile exporter in CY 2024, with exports of USD 18764 Million. Supported by a strong raw material base, skilled workforce, and competitive manufacturing ecosystem, India continues to strengthen its position in the global textile market.
(Source: RHP)
Business Strengths
- The company is focused on growth through capacity expansion and strategic acquisitions. The proposed acquisition of Falcon Yarns is expected to significantly increase spinning capacity, strengthen production capabilities, expand market reach, and support long-term business growth.
- The company has built long-standing relationships with customers through consistent product quality, customised solutions, and reliable service. Its domestic and export market presence, supported by direct sales and reseller networks, contributes to recurring business opportunities.
- The manufacturing facility in Halvad, Gujarat, has substantial installed capacity and ample available land for future expansion. This infrastructure provides flexibility to scale operations and meet growing demand while supporting efficient production processes.
- Located near National Highway 27 with access to key ports and logistics hubs, the facility benefits from efficient transportation and distribution. Adequate storage infrastructure further supports inventory management, product quality, and timely order fulfilment.
- The company has invested in solar and wind power infrastructure that supplies a significant portion of its energy requirements. This reduces power costs, improves operational efficiency, and supports sustainability initiatives across manufacturing operations.
- The company has reported strong growth in revenue and profitability over recent years. Rising profit margins and improved earnings reflect operational efficiencies, business expansion, and its ability to capitalise on growing demand in the textile sector.
- The company is led by experienced promoters and industry professionals with extensive expertise in the textile sector. Their leadership, strategic vision, and operational knowledge support business growth, customer relationships, and long-term value creation.
(Source: RHP)
Financial Performance
Aastha Spintex IPO – Financials (₹ in Lakhs) (Restated Consolidated)
| Particulars | 31 Dec 2025 | Fiscal 2025 | Fiscal 2024 | Fiscal 2023 |
|---|---|---|---|---|
| Revenue from Operations | 31,328.50 | 35,116.02 | 30,486.16 | 23,926.50 |
| Profit after Tax | 1,755.62 | 2,291.62 | 1,628.76 | 105.83 |
| EBITDA | 3,525.37 | 4,636.18 | 3,424.59 | 1,160.02 |
| Return on Equity (ROE) | 12.80% | 23.21% | 23.88% | 1.78% |
| Net Worth | 15,318.16 | 12,105.21 | 7,637.83 | 6,000.94 |
| Return on Capital Employed (RoCE) | 12.13% | 18.89% | 18.95% | 4.58% |
| Total Current Liabilities | 14,885.74 | 11,783.64 | 11,810.65 | 6,650.63 |
(Source: RHP)
Note: Dec 31, 2025 figures represent nine-month performance and are not directly comparable with full-year figures.
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 12.80% | 23.21% |
| ROCE | 12.13% | 18.89% |
| Debt/Equity | 0.66 | 0.79 |
| RoNW | 11.46% | 18.93% |
| PAT Margin | 5.60% | 6.53% |
| EBITDA Margin | 11.25% | 13.20% |
IPO Details
| Particulars | Details |
|---|---|
| IPO Date | 29 June – 1 July, 2026 |
| Allotment | Thu, Jul 2, 2026 |
| Listing Date | Mon, Jul 6, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹125 to ₹136 per share |
| Lot Size | 110 Shares |
| Issue Type | Book Building IPO |
| Sale Type | Fresh capital only |
| Total Issue Size | 1,25,00,000 shares (agg. up to ₹170 Cr) |
| Fresh Issue | 1,25,00,000 shares (agg. up to ₹170 Cr) |
| Shareholding Post Issue | 4,41,42,190 shares |
| Shareholding Pre-Issue | 3,16,42,190 shares |
| Listing Exchange | BSE, NSE |
(Compiled from RHP and market updates)
Conclusion
Aastha Spintex Limited operates in the cotton yarn manufacturing sector with an integrated ginning and spinning business model, a strategically located manufacturing facility, and growing renewable energy capabilities. The company has demonstrated consistent growth in revenue, profitability, and operational performance over the past few years, supported by capacity expansion initiatives and a focus on operational efficiency.
As the textile industry continues to benefit from increasing domestic demand and global trade opportunities, the company appears well-positioned to capitalise on these trends. However, investors should carefully evaluate factors such as industry competition, raw material price fluctuations, execution risks, and valuation before investing. If you are considering participating in upcoming IPOs, you can apply for IPOs with ease on Paytm Money and track allotments, listings, and other key updates in one place.
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