Corporate Governance7 Nov 2026, 05:11 pm
Aastha Spintex: No Deviation in IPO Fund Utilization for H1 FY27
AI Summary
Aastha Spintex Limited has reported that there were no deviations or variations in the utilization of funds raised through its Initial Public Offering (IPO) during the half-year ended September 30, 2026. The company's Audit Committee and Board of Directors reviewed and took on record the statement confirming the proper utilization of IPO proceeds. The funds were allocated towards the purchase consideration for Falcon Yarns Private Limited, working capital for Falcon Yarns, general corporate purposes, and issue-related expenses, with a total utilization of ₹168.96 Crores against the amount received.
Key Highlights
- No deviation in IPO fund utilization for the half-year ended September 30, 2026.
- Audit Committee and Board have reviewed and approved the fund utilization statement.
- Funds were used for acquisitions, working capital, and general corporate purposes.
- Total utilization reported at ₹168.96 Crores.
Price Impact
More from AASTHA