Aastha Spintex IPO off to a steady start; issue subscribed 52% on Day 1. Check GMP & key details

Aastha Spintex's Rs 170 crore IPO, a fresh issue priced at Rs 125-136 per share, was subscribed 52 percent on Day 1, with bids for 70.72 lakh shares against 1.36 crore shares on offer. The NII segment led demand at 87 percent, while QIBs and RIIs subscribed 36 percent and 26 percent respectively. Swastika Investmart assigned a 'Subscribe' rating, noting the acquisition of Falcon Yarns will more than double spinning capacity to 17,457 MT annually and the issue is valued at around 18.8 times FY25 earnings.