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₹136 - 136
Aastha Spintex Ltd
TextilesIPO
₹136 - 136
We are engaged in the business of manufacturing and trading of carded, combed and compact combed cotton yarns and cotton bales. In Fiscal 2025, our Company has achieved the highest ROCE and RONW amongst its selected peers. Our cotton bales are utilized both for captive production of cotton yarns and for supply to other spinning units and the cotton yarns produced are used in both knitting and weaving applications, catering to a wide spectrum of end-use segments and products including denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear, home textiles, and industrial fabrics.
Lot110Min Invest₹14,960Face Value₹10Issue Size₹170 CrFresh Issue₹170 CrListing Price₹130CMP₹22
Timeline
29 Jun
Bidding opens
1 Jul
Bidding closes
2 Jul
Allotment
3 Jul
Refund & demat credit
6 Jul
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹170 Cr1.25 Cr shares
Fresh Issue₹170 Cr
Face Value₹10
Lot Size110 shares
ReservationQIB 20% · NII 40% · RETAIL 40%
Application Sizes
Retail₹14,9601-13 lots
sNII₹2,09,440from 14 lots
bNII₹10,02,320from 67 lots
Managers & Registrar
Lead ManagerBOI Merchant Bankers Limited
Co-ManagerPNB Investment Services Limited
RegistrarBigshare Services Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group74.23%53.22%Public25.77%46.78%
Objects of the Issue
- Part Payment of the purchase consideration for the acquisition of Falcon Yarns Private Limited
- Inter-Corporate deposits for funding working capital requirement of Falcon Yarns Private Limited
- General corporate purposes
Anchor Book
30-day lock-in31-Jul-202690-day lock-in29-Sep-2026
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 254 | 239 | 305 | 351 | 443 |
| Operating ProfitCr | 21 | 14 | 37 | 50 | 53 |
| OPM% | 8.4 | 5.9 | 12.2 | 14.2 | 12.0 |
| PBTCr | 13 | 1 | 21 | 33 | 34 |
| PATCr | 12 | 1 | 16 | 24 | 24 |
| EPS | 4 | 0 | 6 | 9 | 8 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 27 | 27 | 27 | 29 | 32 |
| ReservesCr | 36 | 33 | 49 | 92 | 129 |
| BorrowingsCr | 59 | 81 | 83 | 95 | 107 |
| Fixed AssetsCr | - | - | - | 81 | 73 |
| Total AssetsCr | 155 | 173 | 241 | 274 | 340 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 24 | 15 | 13 | -18 | 5 |
| Investing Cash FlowCr | -13 | -28 | -4 | -3 | -21 |
| Financing Cash FlowCr | -26 | 14 | -9 | 24 | 13 |
| Net Cash FlowCr | -14 | 2 | 0 | 3 | -3 |
Strengths & Risks
Strengths · as stated in the DRHP
- Integrated cotton spinning infrastructure with modern technologies to support our product portfolio.
- Long standing relationship with key customers.
- Strategically located manufacturing facility with adequate storage facility and scope for future expansion.
- Renewable Energy Infrastructure Enabling Sustainable and Cost-Efficient Manufacturing.
- Strong financials and operating metrics.
- Experienced Promoters and Management Team
Strategies · as stated in the DRHP
- Focus on growth through organic and inorganic acquisitions.
- To expand our customer base and geographical footprint.
- Operational Efficiency and Manufacturing Excellence.
Risks · as stated in the DRHP
- One of the Objects of the Issue is to utilise a portion of the Issue Proceeds towards part payment of the purchase consideration for the acquisition of equity shares of Falcon Yarns Private Limited ("Falcon" or the "Target Company") by the Company, the Company proposes to utilise Rs.11,151.00 lakhs from the Issue Proceeds towards part payment of the purchase consideration for acquisition of 33,453,508 equity shares of Falcon at an acquisition price of Rs.33.33 per equity share which is higher than the buyback price of Rs.14.46 per share undertaken by Falcon on September 13, 2024.
- The company has filed compounding applications in respect of certain past non-compliances under the Companies Act, 2013, and may be subject to penalties or adverse regulatory action in connection therewith.
- The Company has, in the past, not complied with the requirements of Section 138 of the Companies Act, 2013 relating to the appointment of an internal auditor, which may expose it to regulatory actions and could adversely affect its business, financial condition and reputation.
- The company has significantly dependent on 7 Seas Impex for majority of the company sales outside Gujarat and exports, and any adverse development in this arrangement could materially and adversely affect its business, results of operations and financial condition.
- The company continued operations are dependent on a single Manufacturing Facility and are critical to the company business, and any disruption could materially and adversely affect its results of operations, cash flows, and financial condition.
- The company has entered into, and may in the future continue to enter into, transactions with related parties, which may potentially involve conflicts of interest.