Shares of Aastha Spintex Ltd made a weak debut on the stock exchanges on Monday, listing at ₹130 on the NSE and BSE, a discount of 4.4 per cent to its IPO price of ₹136.The stock later rose to an intraday high of ₹135 but remained below the issue price.The ₹170-crore initial public offering of the textile manufacturer was subscribed 4.64 times overall. The portion reserved for non-institutional investors was subscribed 7.62 times, while the qualified institutional buyers’ quota received 3.30 times subscription. The retail investor category was subscribed 2.33 times.The IPO was priced in the band of ₹125-136 per equity share.The company said the proceeds from the 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.Ahead of the IPO, Promoter, Chairman and Managing Director Patel Divyang Jashvantbhai had said the public issue would accelerate the company’s growth strategy by supporting the acquisition of Falcon Yarns Pvt Ltd and enhancing its manufacturing capabilities.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.BOI Merchant Bankers and PNB Investment Services were the book-running lead managers to the issue.Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, said Aastha Spintex’s muted listing does not overshadow the company’s strong financial turnaround. According to Nyati, the company’s revenue increased from ₹239 crore in FY23 to ₹351 crore in FY25, while net profit rose from ₹1 crore to ₹23 crore, reflecting significant operational improvement.Nyati added that the acquisition of Falcon Yarns is expected to strengthen production capacity and support future growth. While cotton price volatility remains a risk, improving margins and a reasonable valuation provides confidence in the company’s medium- to long-term prospects. She said investors may consider holding the stock with a stop loss at ₹120.More Like ThisPublished on July 6, 2026