Ashutosh Fibre Ltd. IPO
Ashutosh Fibre IPO is a Book Built Issue of 61,24,800 equity shares aggregating up to ₹56.35 Cr at a price band of ₹87 to ₹92 per share. The issue is entirely a Fresh Issue and there is no Offer for Sale component. The shares are proposed to be listed on
Ashutosh Fibre Ltd. IPO Details
Ashutosh Fibre IPO opened for subscription on 31 August 2026 and will close on 2 September 2026. The basis of allotment is scheduled for 3 September 2026, refunds and credit of shares to Demat accounts are scheduled for 4 September 2026, and the tentative listing date is 7 September 2026.
Ashutosh Fibre Ltd. IPO GMP
Ashutosh Fibre IPO GMP was reported at ₹46 on 31 August 2026 by a grey-market tracking source against the upper issue price of ₹92. This implies an unofficial GMP-based estimated price of ₹138. GMP is not an official exchange price and can change rapidly; it should not be treated as a guaranteed listing price.
Ashutosh Fibre Ltd. IPO Timeline (Tentative)
Ashutosh Fibre IPO opened on 31 August 2026 and is scheduled to close on 2 September 2026. The basis of allotment is scheduled for 3 September 2026, refunds and Demat credit are scheduled for 4 September 2026, and the proposed listing is scheduled for 7 September 2026 on NSE Emerge.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Mon, Aug 31, 2026 |
| IPO Close Date | Wed, Sep 2, 2026 |
| Basis of Allotment | Thu, Sep 3, 2026 |
| Initiation of Refunds | Fri, Sep 4, 2026 |
| Credit of Shares to Demat | Fri, Sep 4, 2026 |
| Listing Date | Mon, Sep 7, 2026 |
| Anchor Investor Bidding | 28 August 2026 |
| IPO Opens | 31 August 2026 |
| IPO Closes | 2 September 2026 |
| Basis of Allotment | 3 September 2026 |
| Refund Initiation | 4 September 2026 |
| Credit of Shares to Demat | 4 September 2026 |
| Listing Date | 7 September 2026 |
Ashutosh Fibre Ltd. IPO Lot Size
The market lot for Ashutosh Fibre IPO is 1,200 shares. Individual investors are required to apply for a minimum of 2 lots, or 2,400 shares, amounting to ₹2,20,800 at the upper price band of ₹92. The minimum application for sHNI investors is 3 lots and for bHNI investors is 10 lots.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | 2,20,800 |
| Retail (Max) | 2 | 2,400 | 2,20,800 |
| S-HNI (Min) | 3 | 3,600 | 3,31,200 |
| S-HNI (Max) | 9 | 10,800 | 9,93,600 |
| B-HNI (Min) | 10 | 12,000 | 11,04,000 |
Ashutosh Fibre Ltd. IPO Reservation
The total issue comprises 61,24,800 equity shares. The issue structure includes 17,43,600 shares reserved for Anchor Investors, 11,62,800 shares for QIBs excluding the Anchor portion, 8,73,600 shares for NII investors, 20,37,600 shares for Retail Individual Investors and 3,07,200 shares reserved for the Market Maker.
Ashutosh Fibre Ltd. IPO Subscription
Ashutosh Fibre IPO subscription data is live during the bidding period. As of 31 August 2026, the issue received bids for 59,52,000 shares against 40,74,000 shares offered for the public categories, resulting in an overall subscription of 1.46 times. The NII category was subscribed 1.84 times, Retail 2.13 times and QIB 0 times at that reporting point. Subscription figures can change until the issue closes on 2 September 2026.
| Category | Subscription (times) |
|---|---|
| QIB | 0.00 |
| NII | 1.84 |
| RII | 2.13 |
| Total | 1.46 |
About Ashutosh Fibre Ltd.
Ashutosh Fibre Limited was incorporated in 1985 and is engaged in the manufacturing and trading of technical textile products, with polypropylene (PP) spun yarns forming an important part of its product portfolio. The company operates on a B2B model and supplies yarns and fabrics to industrial manufacturers, processors and institutional customers.
The company operates from its manufacturing facility at Petlad, Gujarat. Its business has evolved from its earlier manufacturing and trading activities into a technical-textile-focused manufacturing operation. The company's official website describes it as a pioneer in technical textile yarn manufacturing in India with more than four decades of experience in textiles.
Ashutosh Fibre manufactures specialised yarns used in several industrial and consumer applications. Its products include liquid filtration yarns, gas filtration yarns, heat and flame-retardant yarns, abrasion-resistant yarns, cut-resistant yarns, antistatic yarns, aramid-based yarns, high-tenacity polyester yarns, dyed meta-aramid yarns and antibacterial yarns.
The company's technical textile products serve different end-use segments. These include Indutech applications such as filtration, geotextiles, ropes and industrial textiles; Protech applications involving protective and heat-resistant products; Hometech applications covering carpets, home furnishings and filtration media; and Mobiltech applications connected with automotive components.
The company manufactures yarn using multiple technologies, including Ring Spun, DREF or friction spinning and Open-End Spinning. Its manufacturing facility is equipped with five processing lines and can manufacture yarn in counts ranging from 2 Ne to 50 Ne in single-ply and multi-ply configurations.
The company also has a 380 KW rooftop solar power system at its Petlad manufacturing facility for captive consumption. This provides an additional source of power for its manufacturing operations and supports its focus on operating efficiency.
Ashutosh Fibre's products are used as raw-material inputs in industries including filtration and pollution control, construction and infrastructure, automotive, packaging, safety and protective equipment and home furnishing. This gives the company exposure to several industrial end-use markets rather than a single application.
The company has also developed products for specialised applications requiring properties such as heat resistance, flame retardancy, abrasion resistance, high strength and antibacterial performance. Its technical textile portfolio includes para-aramid, meta-aramid, modacrylic-based and polypropylene yarn products.
As of 30 June 2026, the company had approximately 169 permanent employees across its operations.
Ashutosh Fibre has reported growth in both revenue and profitability over the three financial years ended 31 March 2026. Total revenue increased from ₹109.89 Cr in FY2024 to ₹114.97 Cr in FY2025 and ₹117.43 Cr in FY2026.
Profit After Tax increased from ₹7.05 Cr in FY2024 to ₹8.51 Cr in FY2025 and ₹16.04 Cr in FY2026. The FY2026 PAT therefore represents a substantial increase over FY2025.
EBITDA increased from ₹16.14 Cr in FY2024 to ₹17.84 Cr in FY2025 and ₹31.07 Cr in FY2026. EBITDA margin increased from 14.69% in FY2024 and 15.64% in FY2025 to 26.47% in FY2026.
Net worth increased from ₹27.55 Cr in FY2024 to ₹35.85 Cr in FY2025 and ₹51.90 Cr in FY2026. Total borrowings were ₹34.86 Cr in FY2024, ₹57.44 Cr in FY2025 and ₹47.92 Cr in FY2026.
The company's FY2026 operating cash flow was reported at ₹21.44 Cr compared with ₹11.22 Cr in FY2025 and ₹5.64 Cr in FY2024.
The IPO is entirely a Fresh Issue. There is no Offer for Sale component. The company proposes to use the IPO proceeds primarily for capital expenditure on new equipment and machinery and repayment or prepayment of certain borrowings, with the remaining net proceeds available for general corporate purposes.
The company has proposed ₹25.51 Cr towards capital expenditure requirements for new equipment and machinery. Another ₹20.00 Cr is proposed for repayment or prepayment, in full or in part, of certain borrowings.
The proposed capital expenditure is intended to support the company's manufacturing operations and expansion of its production capabilities. The debt-repayment component is intended to reduce outstanding borrowings and improve the company's financial position.
The promoters of Ashutosh Fibre Limited are Siddharth Prakash Patel, Abhishek Rajendrakumar Agarwal and Prahash Fin-Stock Private Limited. The promoter and promoter group holding is reported at 59.79% before the IPO and is expected to reduce to 43.05% after the issue.
The company's registered office is at 111, New Cloth Market, Outside Raipur Gate, Ahmedabad, Gujarat 380002, while its works address is at Station Road, Petlad, District Anand, Gujarat.
Strengths
- Established operating history dating back to 1985.
- Specialised technical textile and yarn manufacturing business.
- Broad portfolio of technical and high-performance yarns.
- Products serve filtration, pollution control, construction, infrastructure, automotive, packaging, safety and home-furnishing applications.
- Exposure to Indutech, Protech, Hometech and Mobiltech segments.
- Manufacturing capability across Ring Spun, DREF/Friction Spun and Open-End Spinning technologies.
- Manufacturing facility at Petlad, Gujarat.
- Ability to manufacture yarn in counts ranging from 2 Ne to 50 Ne.
- Five processing lines at the manufacturing facility.
- 380 KW rooftop solar power facility for captive consumption.
- B2B customer base serving industrial manufacturers, processors and institutional buyers.
- Revenue increased from ₹109.89 Cr in FY2024 to ₹117.43 Cr in FY2026.
- PAT increased from ₹7.05 Cr in FY2024 to ₹16.04 Cr in FY2026.
- EBITDA increased from ₹16.14 Cr in FY2024 to ₹31.07 Cr in FY2026.
- FY2026 EBITDA margin increased to 26.47%.
- FY2026 PAT margin stood at 13.67%.
- Net worth increased to ₹51.90 Cr in FY2026.
- FY2026 operating cash flow was ₹21.44 Cr.
- IPO proceeds include ₹25.51 Cr for new equipment and machinery.
- IPO proceeds include ₹20.00 Cr for repayment or prepayment of borrowings.
Risks to Consider
- The company operates in the competitive technical textile and yarn manufacturing industry.
- Its business is exposed to fluctuations in raw-material prices.
- Changes in demand from industrial, automotive, construction and other end-use sectors may affect revenue.
- The company has significant borrowings and proposes to use ₹20.00 Cr of IPO proceeds towards repayment or prepayment of certain borrowings.
- Manufacturing operations require continued investment in machinery and equipment.
- The proposed capital expenditure may involve execution, commissioning and utilisation risks.
- Machinery breakdowns or production interruptions could affect manufacturing operations.
- Technical textile markets require continuous product development and quality consistency.
- Dependence on industrial and institutional customers can expose the company to customer concentration risks.
- Changes in textile-industry conditions can affect pricing and margins.
- Competition from domestic and international technical textile manufacturers may affect profitability.
- Foreign-exchange movements may affect costs or revenue where transactions involve international markets.
- The company is exposed to electricity, labour, logistics and other manufacturing costs.
- The business requires working capital for inventories, receivables and operating requirements.
- Changes in environmental, textile, labour or other applicable regulations may affect operations.
- SME-listed shares may have lower liquidity than shares of mainboard-listed companies.
- The IPO valuation is based on projected post-issue capital and FY2026 earnings metrics.
- The actual market price after listing may differ materially from the issue price or unofficial GMP indications.
Ashutosh Fibre Ltd. Financials (₹ Cr)
Ashutosh Fibre reported total revenue of ₹109.89 Cr in FY2024, ₹114.97 Cr in FY2025 and ₹117.43 Cr in FY2026. PAT increased from ₹7.05 Cr in FY2024 to ₹8.51 Cr in FY2025 and ₹16.04 Cr in FY2026.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | 109.89 | 7.05 | 73.01 | 27.55 |
| FY2025 | 114.97 | 8.51 | 104.60 | 35.85 |
| FY2026 | 117.43 | 16.04 | 112.06 | 51.90 |
KPIs & Valuation
For FY2026, Ashutosh Fibre reported ROCE of 26.29%, RoNW of 30.91%, PAT margin of 13.67%, EBITDA margin of 26.47%, debt-to-equity of 0.92x and NAV of ₹32.95 per share.
Objects of the Issue
Ashutosh Fibre proposes to utilise the net IPO proceeds primarily for funding capital expenditure towards new equipment and machinery, repayment or prepayment of certain borrowings and general corporate purposes. The two specifically identified major objects amount to ₹45.51 Cr.
- The IPO proceeds are proposed to be utilised for:
- Funding capital expenditure requirements towards new equipment and machinery – ₹25.51 Cr.
- Repayment/pre-payment, in full or in part, of certain borrowings availed by the company – ₹20.00 Cr.
- General corporate purposes – balance amount of the net proceeds.
- Issue-related expenses.
- The company has therefore structured the IPO around capacity and equipment investment together with reduction or prepayment of selected borrowings. The balance net proceeds are proposed to be used for general corporate purposes in accordance with the offer document.
Promoters, Lead Managers & Registrar
Ashutosh Fibre Limited is promoted by Siddharth Prakash Patel, Abhishek Rajendrakumar Agarwal and Prahash Fin-Stock Private Limited. Mefcom Capital Markets Limited is the Book Running Lead Manager, while KFin Technologies Limited is the Registrar to the Issue. Asnani Stock Broker Private Limited is the Market Maker.
Promoters
Lead Managers (BRLM)
Registrar
| Name | KFin Technologies Limited |
|---|---|
| Phone | +91 40 6716 2222 |
| ashutosh.ipo@kfintech.com | |
| Website | https://www.kfintech.com/ |
Ashutosh Fibre Ltd. IPO Review
Ashutosh Fibre operates in the technical textile segment, with specialised yarns forming the core of its business. The company's products serve a range of industrial applications, including filtration, protective equipment, automotive components, construction, infrastructure and home furnishing.
The company has an established operating history and has developed manufacturing capabilities across multiple spinning technologies. Its Ring Spun, DREF and Open-End Spinning technologies allow it to manufacture yarns across different specifications and counts.
The diversification of applications is one of the notable features of the business. Products are supplied for Indutech, Protech, Hometech and Mobiltech applications, allowing the company to serve customers across different industrial segments.
Financially, the company reported revenue of ₹117.43 Cr and PAT of ₹16.04 Cr for FY2026, compared with revenue of ₹114.97 Cr and PAT of ₹8.51 Cr in FY2025. The increase in profitability was considerably higher than the growth in revenue.
EBITDA increased from ₹17.84 Cr in FY2025 to ₹31.07 Cr in FY2026, while EBITDA margin increased from 15.64% to 26.47%. This indicates a significant improvement in reported operating profitability during FY2026.
Net worth also increased to ₹51.90 Cr in FY2026 from ₹35.85 Cr in FY2025. Borrowings declined from ₹57.44 Cr in FY2025 to ₹47.92 Cr in FY2026.
The company reported a debt-to-equity ratio of 0.92x for FY2026, compared with 1.60x in FY2025. RoNW was 30.91%, ROCE was 26.29%, PAT margin was 13.67% and EBITDA margin was 26.47%.
At the upper issue price of ₹92, the reported pre-issue EPS is ₹10.19 and the post-issue EPS is ₹7.33. The corresponding P/E is reported at 9.03x on the pre-issue EPS and 12.55x on the post-issue EPS.
The IPO proceeds have clearly identified uses. ₹25.51 Cr is proposed for equipment and machinery, while ₹20.00 Cr is proposed for repayment or prepayment of certain borrowings. This means a substantial portion of the issue proceeds is directed towards business expansion and balance-sheet management.
The company also has a 380 KW rooftop solar installation at its Petlad manufacturing unit, which supports captive power consumption.
The principal risks relate to raw-material costs, competition, customer concentration, manufacturing and machinery requirements, working-capital needs and the company's outstanding borrowings. Investors should also consider the liquidity and trading risks associated with an SME listing.
Overall, Ashutosh Fibre IPO provides exposure to a specialised technical-textile manufacturer with an established operating history, diversified applications, multiple yarn-manufacturing technologies and improved FY2026 profitability. The IPO funds are primarily directed towards new equipment and machinery and repayment or prepayment of borrowings. Investors should evaluate the company's financial performance, valuation, industry risks, customer concentration, borrowing levels and SME-market liquidity before making an investment decision.
Listing Performance
Ashutosh Fibre shares had not yet listed as of 1 September 2026. The tentative listing date is 7 September 2026 on NSE Emerge. Therefore, the actual listing price and listing gain/loss are not available yet.
| Particular | Price |
|---|---|
| IPO Issue Price | ₹92.00 |
| Listing Price | To be announced |
| Listing Gain/Loss | To be announced |
| Listing Gain/Loss (%) | To be announced |
How to Apply
Ashutosh Fibre IPO applications can be made through the ASBA facility or eligible UPI-enabled IPO application facilities provided by participating banks and registered intermediaries. The minimum individual application is 2 lots, or 2,400 shares, at the upper price band of ₹92, requiring ₹2,20,800.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select Ashutosh Fibre IPO.
- Enter the required number of lots.
- Enter your valid UPI ID.
- Submit the IPO application.
- Approve the UPI mandate received in your UPI application.
- Confirm the mandate using your UPI PIN.
- The application amount remains blocked in your bank account until the allotment process.
- If shares are allotted, the applicable amount is debited; otherwise, the blocked amount is released according to the IPO process.
Prospectus & Documents
The Ashutosh Fibre IPO offer documents contain information regarding the company's business, financial performance, capital structure, issue terms, objects of the issue, risk factors, promoters, management and other disclosures relating to the public offer. The company's official website states that the DRHP was filed with NSE Emerge and that the RHP and offer documents are made available through the relevant official channels.
Last updated Sep 2, 2026.