Aastha Spintex IPO to Open on June 29; Aims to Raise Rs 170 Crore

New Delhi, June 26: Textile manufacturer Aastha Spintex Ltd will launch its initial public offering (IPO) on June 29 to raise Rs 170 crore.

The public issue, with a price band of Rs 125-136 per equity share, will remain open for subscription until July 1, according to a company statement on Thursday.

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.

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 Rs 351.16 crore and a profit after tax of Rs 22.92 crore. For the nine months ended December 2025, it posted revenue of Rs 313.29 crore and a profit after tax of Rs 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.