Mumbai, Jul 23 (PTI) Integrated cotton yarn manufacturer Aastha Spintex on Thursday said its board has approved expansion into value-added textile products, including grey fabric and a bonus issue of shares.
The board in its meeting held on July 23 approved a bonus issue of one share for every share held by shareholders (1:1) and increasing the authorised share capital from Rs 45 crore to Rs 100 crore to facilitate the bonus issue, the Gujarat-based company said in an exchange filing.The board also approved a final dividend of 1 per cent for FY26, and the firm’s expansion into forward-integrated textile products, including grey fabric and other value-added fabric products under the company’s proprietary brand, to strengthen its presence across the textile value chain.
The approval follows the recent acquisition of Falcon Yarns, which will increase spinning capacity from 7,700 MT to 17,457 MT and spindle capacity from 25,920 to 61,824, supporting the company’s next phase of growth, the company said in a statement.Divyang Jashwant Patel, Managing Director of Aastha Spintex Limited, said, “At Aastha Spintex, every phase of growth has been guided by a long term vision of building a stronger and more integrated textile business. PTI IAS MRThis report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
