Aastha Spintex launches IPO to raise ₹170Cr with ₹125-₹136 band
Aastha Spintex, known for making cotton yarn, is launching an initial public offering, or IPO, to raise ₹170 crore.
Shares are priced between ₹125 and ₹136, and you can subscribe from Monday to Wednesday.
After that, the stock will be listed on NSE and BSE, so if you're curious about investing or just tracking market moves, this is one to watch.
Aastha Spintex plans Falcon Yarns acquisition
The raised funds will help Aastha Spintex buy Falcon Yarns Pvt. Ltd. and support its working capital needs.
The company's leaders say this move will boost their manufacturing game and expand their reach.
Promoter, Chairman and Managing Director Patel Divyang Jashvantbhai highlighted their push for sustainable energy and operational excellence, while Managing Director & CEO, PNB Investment Services' Mohammad Abid Siddiqui said the company is now entering a new phase of development with its proposed public issue.