Aastha Spintex IPO Day 2: GMP signals 4% listing gain; subscription nears full. Should you apply?

Aastha Spintex's Rs 170 crore IPO was subscribed 88 percent on day 1, with the NII portion booked 1.38 times, retail at 42 percent, and QIBs at 80 percent. Grey market premium of around 4 percent indicates an estimated listing price of about Rs 141 versus the upper price band of Rs 136. Swastika Investmart has recommended a Subscribe rating, citing the proposed Falcon Yarns acquisition that would more than double spinning capacity from 7,700 MT to 17,457 MT, while flagging cotton price volatility and single-facility concentration as key risks.