Aastha Spintex IPO Day 3: GMP signals 5% gain, subscribed 1.48x. Should you subscribe?

Aastha Spintex's Rs 170 crore IPO was subscribed 1.48 times by end of Day 2, with the NII segment leading at 2.28 times, RII at 96 percent, and QIB at 94 percent. Grey Market Premium is around 5 percent, signalling a modest listing gain with shares expected to debut near Rs 142 against the upper price band of Rs 136. The Gujarat-based cotton yarn maker reported FY25 total income of Rs 352.2 crore and net profit of Rs 22.9 crore, with proceeds earmarked for the Falcon Yarns acquisition that would more than double spinning capacity to 17,457 MT.