Aastha Spintex's initial public offering (IPO) was fully subscribed by the second day of its public subscription period, which ends on July 1. The IPO is priced in the range of ₹125-136 per equity share, with a lot size fixed at 110 shares and multiples thereof. The company has allocated 20% of the issue for qualified institutional buyers (QIBs), 40% for non-institutional investors (NIIs), and 40% for retail investors, with allotments expected on July 2 and listing on July 6, according to livemint.com.
The subscription momentum saw the issue booked 88% by the second day, reflecting strong investor interest. The IPO's pricing and allocation strategy aimed to attract a broad base of investors. The company’s decision to keep the price band between ₹125 and ₹136 per share was designed to balance investor demand and market conditions. The process follows standard regulatory timelines, with allotments and listing scheduled within a week of the subscription period closing, as reported by livemint.com and thehindubusinessline.com.
This IPO adds to the growing number of mid-sized companies tapping public markets to raise capital, reflecting a positive trend in the Indian equity market. The balanced allocation among QIBs, NIIs, and retail investors is typical for IPOs targeting diversified investor participation. Aastha Spintex's successful subscription on day two indicates robust demand, which is a positive signal for the company’s market debut. Such IPOs contribute to deepening market liquidity and expanding investment opportunities for retail and institutional investors alike, per insights from livemint.com.
The final subscription day is July 1, with the allotment results expected on July 2. The shares are slated to be listed on the stock exchanges on July 6, marking the company's official entry into the public market, according to livemint.com.