Aastha Spintex
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 9 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 05 Jul 2026 | ₹5 | +3.68% | ₹400 | ₹141 | ₹550 |
| 04 Jul 2026 | ₹3 | +2.21% | ₹300 | ₹139 | ₹330 |
| 03 Jul 2026 | ₹4 | +2.94% | ₹300 | ₹140 | ₹440 |
| 02 Jul 2026 | ₹3.7 | +2.72% | ₹300 | ₹139.7 | ₹407 |
| 01 Jul 2026 | ₹3 | +2.21% | ₹300 | ₹139 | ₹330 |
| 30 Jun 2026 | ₹6.25 | +4.60% | ₹500 | ₹142.25 | ₹687.5 |
| 29 Jun 2026 | ₹5.5 | +4.04% | ₹500 | ₹141.5 | ₹605 |
| 28 Jun 2026 | ₹5.25 | +3.86% | ₹400 | ₹141.25 | ₹577.5 |
| 27 Jun 2026 | ₹5 | +3.68% | ₹400 | ₹141 | ₹550 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 29 Jun 2026 – 01 Jul 2026
- Listing date
- 06 Jul 2026
- Face value
- ₹10 per share
- Price band
- ₹136
- Issue price
- ₹136 per share
- Lot size
- 110 shares
- Total issue size
- ₹170 Cr
- Market cap at offer price
- ₹600 Cr
- Promoter holding
- 74.23% → 53.21% pre-issue → post-issue
- ISIN
- INE2FMX01012
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- BOI Merchant Bankers Ltd.
- Registered office
- Survey No 1441 1442 1448/1 1449, 1450/2 P2 & 1443/P2, Halvad Maliya Highway, Halvad, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 110 shares per lot, in multiples, at ₹136
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 110 | ₹14,960 |
| Retail (max) | 13 | 1,430 | ₹1,94,480 |
| S-HNI (min) | 14 | 1,540 | ₹2,09,440 |
| S-HNI (max) | 66 | 7,260 | ₹9,87,360 |
| B-HNI (min) | 67 | 7,370 | ₹10,02,320 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹136 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 7.24 | 5.30 |
| P/E (×) | 18.78 | 25.66 |
| Price to book (×) | 3.11 | — |
| Market cap | — | ₹600 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 18.93%
- ROCE
- 18.89%
- Debt / equity
- 0.79
- PAT margin
- 6.53%
- EBITDA margin
- 13.20%
- NAV per share
- ₹43.8
- Price to book
- 3.11
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Aastha Spintex
Aastha Spintex Limited was originally incorporated as 'Aastha Spintex Private Limited', a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated August 12, 2013 issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli; upon conversion into a public limited company it was renamed 'Aastha Spintex Limited' via a Board resolution dated January 3, 2025 and a shareholders' resolution dated January 27, 2025, with a fresh certificate of incorporation dated February 12, 2025. Its registered and corporate office is at Survey Nos. 1441, 1442, 1448/1, 1449, 1450/2 & 1443/P2, Halvad Maliya Highway, Halvad, Surendra Nagar, Gujarat, and it is promoted by Patel Divyang Jashwantbhai, Rasiklal Valjibhai Patel, Gothi Vivek Rasiklal and Jashwantbhai Valjibhai Patel. This document is an addendum (dated June 5, 2026) to the DRHP dated September 30, 2025 and contains no business-overview section; however, the company's name and CIN (U17120GJ2013PLC076361, corresponding to NIC class 17120, preparation and spinning of textile fibre) point to a textile spinning business, and ancillary disclosures — bank guarantees to power utility PGVCL and purchases from associate concern Ramkrishna Print Pack — are consistent with manufacturing operations. The addendum does not describe any products, customers or revenue streams, so how the company earns money cannot be confirmed from this document alone; auditor-certified restated figures cited for SEBI ICDR eligibility show net tangible assets of ₹11,999.30 lakhs, operating profit of ₹4,180.91 lakhs and net worth of ₹12,105.21 lakhs for FY2025. The IPO comprises [●] equity shares of face value ₹10 each aggregating up to ₹17,000 lakhs, entirely a fresh issue, on the main boards of BSE and NSE, with BOI Merchant Bankers Limited and PNB Investment Services Limited as book-running lead managers and Bigshare Services Private Limited as registrar; the addendum also discloses pending tax cases involving the company (₹38.03 lakhs across 10 cases) and its promoters/directors (direct-tax demands of ₹1,886.21 lakhs and ₹1,885.96 lakhs respectively).
Company Analysis
from DRHPAastha Spintex Limited is a Gujarat-based textile spinning company (per its corporate name and CIN U17120GJ2013PLC076361, NIC class 17120 – preparation and spinning of textile fibre) that is launching an initial public offering of equity shares of face value ₹10 each aggregating up to ₹17,000 lakhs, comprising entirely a fresh issue, on the main boards of BSE and NSE.
Aastha Spintex Limited was originally incorporated as 'Aastha Spintex Private Limited', a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated August 12, 2013 issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli; upon conversion into a public limited company it was renamed 'Aastha Spintex Limited' via a Board resolution dated January 3, 2025 and a shareholders' resolution dated January 27, 2025, with a fresh certificate of incorporation dated February 12, 2025. Its registered and corporate office is at Survey Nos. 1441, 1442, 1448/1, 1449, 1450/2 & 1443/P2, Halvad Maliya Highway, Halvad, Surendra Nagar, Gujarat, and it is promoted by Patel Divyang Jashwantbhai, Rasiklal Valjibhai Patel, Gothi Vivek Rasiklal and Jashwantbhai Valjibhai Patel. This document is an addendum (dated June 5, 2026) to the DRHP dated September 30, 2025 and contains no business-overview section; however, the company's name and CIN (U17120GJ2013PLC076361, corresponding to NIC class 17120, preparation and spinning of textile fibre) point to a textile spinning business, and ancillary disclosures — bank guarantees to power utility PGVCL and purchases from associate concern Ramkrishna Print Pack — are consistent with manufacturing operations. The addendum does not describe any products, customers or revenue streams, so how the company earns money cannot be confirmed from this document alone; auditor-certified restated figures cited for SEBI ICDR eligibility show net tangible assets of ₹11,999.30 lakhs, operating profit of ₹4,180.91 lakhs and net worth of ₹12,105.21 lakhs for FY2025. The IPO comprises [●] equity shares of face value ₹10 each aggregating up to ₹17,000 lakhs, entirely a fresh issue, on the main boards of BSE and NSE, with BOI Merchant Bankers Limited and PNB Investment Services Limited as book-running lead managers and Bigshare Services Private Limited as registrar; the addendum also discloses pending tax cases involving the company (₹38.03 lakhs across 10 cases) and its promoters/directors (direct-tax demands of ₹1,886.21 lakhs and ₹1,885.96 lakhs respectively).
Issue Structure
- Total Issue
- Aggregating up to ₹17,000 lakhs
- Fresh Issue
- Comprises a fresh issue of [●] equity shares of face value of ₹10 each (the entire Issue)
- Face Value
- ₹10 each
SWOT Analysis
- • Operating profit grew ~5x from ₹826.58 lakh (FY23) to ₹4,180.91 lakh (FY25), comfortably above the ₹1,500-lakh Regulation 6(1) threshold(p.9)
- • Net tangible assets roughly doubled from ₹5,974.08 lakh (FY23) to ₹11,999.30 lakh (FY25)(p.9)
- • Net worth expanded from ₹6,000.94 lakh (FY23) to ₹12,105.21 lakh (FY25)(p.9)
- • Company certifies full compliance with main-board eligibility criteria under Regulation 6(1) of SEBI ICDR Regulations(p.9)
- • Recurring dependence on loans from promoters/KMPs and their group entities for funding (e.g., ₹661.00 lakh received from Divyang Jashwant Patel in FY25; continued receipts through 9M FY26)(p.5)
- • Promoter & Whole-time Director faces a large income-tax demand of ₹1,878.58 lakh (AY 2017-18) currently under appeal(p.8)
- • Promoters collectively subject to 9 direct-tax cases involving ₹1,886.21 lakh(p.8)
- • Company has its own open tax disputes — 7 direct-tax cases (₹3.90 lakh) and 3 indirect-tax cases (₹34.13 lakh) — with appeals already filed for FY2019-20 and FY2020-21(p.8)
- • Ongoing purchases from a promoter-associated concern (Ramkrishna Print Pack) create continuing related-party exposure(p.5)
- • Contingent liability of ₹239.31 lakh via bank guarantees issued to PGVCL through Bank of Baroda(p.4)
- • The Issue comprises solely a fresh issue aggregating up to ₹17,000 lakhs, bringing new primary capital into the Company (no offer-for-sale component disclosed)(p.1)
- • Evolving SEBI regulation mid-process: an ICDR amendment (March 16, 2026) deleted the 'Summary of the Issue Document' chapter and forced restructuring of offer-document disclosures(p.1)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Patel Divyang Jashwantbhai | Promoter | — | — |
| Rasiklal Valjibhai Patel | Promoter | — | — |
| Gothi Vivek Rasiklal | Promoter and Whole-time Director | — | — |
| Jashwantbhai Valjibhai Patel | Promoter | — | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.