Ashutosh Fibre IPO
smeclosedAbout the company
Ashutosh Fibre is a B2B manufacturer of technical and synthetic yarns that serve the needs of manufacturers and processors as well as institutions. The company was established on May 21, 1985 and operates across four categories of technical textiles, namely: Indutech, Protech, Hometech and Mobiltech, that suit applications like filtration, geotextiles, protective clothing, home furnishings and automotive friction materials. The company’s products are customised as per the requirements of clients and are generally supplied as repeat raw material input to industries and not directly to consumers. The company has a diverse range of special yarns. The company operates on a B2B business model and has 109 customers and 49 suppliers in FY26. It has five processing lines and three technologies for manufacturing yarns, namely Ring Spun, DREF/Friction Spun and Open End Spinning. The company’s manufacturing plant is located in Village Petlad, Gujarat, having a manufacturing capacity of 3,750 MT per annum for different types of synthetic and technical yarns, along with a separate 1,025 MT per annum capacity for 100% Polypropylene Yarns. Capacity utilisation for main synthetic yarns has significantly increased to 96.51% in FY26 from 80.24% in FY24. Manufacturing continued to be the primary source contributing to 89.1% of revenue from operations in FY26, whereas job work contributed to 9.04%. Product category-wise, para-aramid-based spun yarn was the largest contributor to revenue at 27.6% in FY26, followed by 100% polypropylene yarn with 22.9%, high tenacity polyester yarn with 11.2% and meta-aramid-viscose-para-aramid-based spun yarn with 8.1%. The company has seen a major shift in its technical textile mix. In FY26, Protech was the largest contributor to 37.8% of revenue from operations, while Mobiltech contributed 36.6% and Hometech contributed 14.4%. The Indutech manufacturing revenue was just 0.1% of revenue in FY26. Geographically, domestic revenue constituted 59.1% of the total revenue, whereas export revenue made up 38.9%.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 02 Sep | ₹35 | ₹127 | 0 |
| 01 Sep | ₹35 | ₹127 | +1 |
| 31 Aug | ₹34 | ₹126 | 0 |
| 30 Aug | ₹34 | ₹126 | +3 |
| 29 Aug | ₹31 | ₹123 | 0 |
| 28 Aug | ₹31 | ₹123 | -1 |
| 27 Aug | ₹32 | ₹124 | 0 |
| 26 Aug | ₹32 | ₹124 | 0 |
Strengths
- Specialised Technical Textile Products: The company manufactures technical textile yarns such as para-aramid and polypropylene spun yarns used across industrial, automotive, filtration, construction and protective applications.
- Diversified Applications: Its products serve multiple end-use sectors, including Indutech, Protech, Hometech and Mobiltech, reducing dependence on a single application.
- Proprietary Recycling Capability: Its “Fabric-to-Fibre” process allows para-aramid fabrics to be recycled into secondary fibres, supporting sustainability and potentially reducing raw-material costs.
- Strong Profitability Improvement: FY26 PAT increased significantly, while EBITDA and margins also improved substantially, indicating better operating efficiency.
Risks
- Single-Segment Concentration: The company is primarily dependent on technical-textile yarn manufacturing, so weakness in this segment could materially affect overall performance.
- Customer Concentration: The top customers account for a significant portion of revenue, creating dependence on a relatively limited customer base.
- Raw-Material Price Volatility: Prices of polypropylene and other raw materials can fluctuate significantly, potentially putting pressure on margins.
- Supplier Dependence: A substantial share of raw-material purchases comes from a limited number of suppliers, while there are no long-term supply contracts for certain materials.
- Import and Currency Risk: Imported raw materials expose the company to foreign-exchange movements, shipping costs, tariffs and global supply-chain disruptions.
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
Completed31 Aug 2026Bidding starts for all investor categories
IPO Closes
Completed02 Sept 2026Last day to place your bid
Basis of Allotment
In Progress04 Sept 2026Share allotment finalised
0d since Basis of AllotmentToday · 04 Sept 20261d to Refund InitiationRefund Initiation
Upcoming05 Sept 2026Refunds credited for non-allottees
Credit to Demat
Upcoming06 Sept 2026Allotted shares credited to demat account
Listing on Exchange
Upcoming07 Sept 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 1200 | ₹110,400 | 1 | ₹110,400 | 1 lot only |
| HNI | 2 | 2400 | ₹220,800 | 2 | ₹220,800 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 3,128,492 | 28 | 0 | 0.00x | 100% |
| NII | 15% | 938,547 | 8.4 | 5,171,394 | 5.51x | 18.1% |
| Retail | 35% | 2,189,944 | 19.6 | 4,730,279 | 2.16x | 46.3% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
Date-wise daily subscription (all categories)
| Date / Day | Retail (x) | QIB (x) | NII (x) | EMP (x) | OTHER (x) | Total (x) | Total |
|---|---|---|---|---|---|---|---|
31 Aug Day 1 | 0.28x | 0.00x | 0.80x | 0.00x | 0.00x | 0.24x | 1.32x |
01 Sep Day 2 | 1.29x | 0.00x | 3.00x | 0.00x | 0.00x | 1.04x | 5.33x |
02 Sep Day 3 | 2.16x | 0.00x | 5.51x | 0.00x | 0.00x | 1.72x | 9.39x |
Date-wise cumulative subscription figures per category, refreshed each bidding day.