Aastha Spintex Ltd., a textile manufacturer that recently debuted on the stock market, has swiftly announced a series of significant corporate actions. Less than a month after its listing, the company's board approved a 1:1 bonus share issue and recommended a final dividend for the financial year ended March 31, 2026.
The board's decision entails issuing one fully paid-up bonus equity share for every existing equity share held by eligible shareholders. This bonus issue will be facilitated through the capitalization of the company's reserves and surplus, pending shareholder and regulatory approvals. Additionally, Aastha Spintex recommended a final dividend of Re 0.10 per equity share, representing 1 percent of the face value of Rs 10 each. This dividend, if ratified by shareholders at the upcoming Annual General Meeting (AGM), is slated for payment within 30 days of its declaration.
In a move to support future growth initiatives and corporate actions, the company's board also gave its nod to increasing the authorized share capital from Rs 45 crore to Rs 100 crore. This proposal, too, requires shareholder approval through an amendment to the Memorandum of Association.
Aastha Spintex shares were listed earlier this month, having raised Rs 170 crore through its primary offering. The shares were sold in a price band of Rs 125-136 apiece between June 29 and July 1. Following these announcements, the company's stock experienced a decline of more than 10 percent from its day's high, trading at Rs 95.95 with a total market capitalization of Rs 450 crore.
Beyond these financial decisions, Aastha Spintex revealed a strategic diversification plan, aiming to expand its operations from yarn manufacturing into fabric production. This move signals an intent to climb the textile value chain, strengthen its business portfolio, and enhance value addition.