Ashutosh Fibre IPO Day 1: Subscription status, review — here's what you need to know
- Ashutosh Fibre IPO Day 1 subscription stands at 0.96x.
- Retail category is the top performer with 1.38x subscription.
- QIB participation remains at 0.00x on Day 1.
- Total subscription jumped 231.0% from morning snapshot.
- IPO closes on September 2, 2026.
*this image is generated using AI for illustrative purposes only.
Ashutosh Fibre’s IPO closed with a massive final subscription of 129.32x. The issue witnessed a dramatic late-day surge, with QIBs jumping to 141.53x and NII (bHNI) reaching 118.70x. Retail investors also showed strong interest at 92.09x. Shares list on September 7.
Final Subscription Status
The subscription momentum picked up sharply after 2pm, racing ahead in the final hours. QIB jumped from 0.00x to 141.53x, while NII (bHNI) surged +1526.0% from 7.30x to 118.70x during the day. Total subscription jumped +1590.5% today (from 7.65x to 129.32x).
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 31-08-2026 | 0.00x | 0.92x | 1.44x | 1.38x | 0.96x |
| Day 2 | 01-09-2026 | 0.00x | 4.40x | 4.51x | 7.88x | 4.90x |
| Day 3 | 02-09-2026 | 141.53x | 118.70x | 240.54x | 92.09x | 129.32x |
Intra-day timeline on 02-09-2026
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 7.30x | 11.87x | 7.65x |
| 12:15 | 0.02x | 13.49x | 16.32x | 11.68x |
| 13:15 | 6.82x | 29.72x | 25.96x | 23.55x |
| 14:15 | 18.38x | 49.35x | 40.33x | 41.79x |
| 15:15 | 62.25x | 86.71x | 65.23x | 81.45x |
| 16:15 | 141.53x | 118.70x | 92.09x | 129.32x |
| 17:15 | 141.53x | 118.70x | 92.09x | 129.32x |
Category-wise Breakdown
The Non-Institutional Investor (NII) category dominated the issue, with bHNI subscribers booking 118.70x and sHNI at 240.54x. Retail investors ended at 92.09x. A notable development was the QIB category, which moved from 0.00x to 141.53x in the final hours, indicating strong institutional conviction.
About the Company
Ashutosh Fibre Limited, incorporated in 1985, is a technical textile manufacturer specializing in synthetic yarns for high-performance industrial applications. The company operates in four segments: Indutech, Protech, Hometech, and Mobiltech. It utilizes Ring Spun, DREF friction spinning, and Open-End spinning technologies. The company is led by MD Siddharth Prakash Patel and CEO Abhishek Rajendrakumar Agarwal.
Financial Highlights
| Particulars | FY 2026 (₹ crores) | FY 2025 (₹ crores) | FY 2024 (₹ crores) |
|---|---|---|---|
| Revenue from Operations | 117.37 | 114.03 | 109.87 |
| Profit After Tax | 16.04 | 8.51 | 7.05 |
| Total Equity | 51.90 | 35.85 | 27.55 |
The company reported revenue from operations of ₹117.37 crores in FY 2026, up from ₹114.03 crores in FY 2025. Profit after tax nearly doubled to ₹16.04 crores in FY 2026 compared to ₹8.51 crores in the previous year.
Objects of the Issue
- Funding capital expenditure requirements towards funding of new equipment and machinery: ₹25.51 crores
- Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company: ₹20.00 crores
- General Corporate Purposes: Amount not specified in lakhs
Risk Factors
- Dependence on Key Customers: Top 10 customers contributed approximately 68.85% of revenue in Fiscal 2026 without long-term agreements.
- Raw Material Supply Chain Dependency: Majority of raw materials sourced from top 10 suppliers; significant portion imported, exposing company to FX fluctuations.
- Single Manufacturing Facility Concentration Risk: All manufacturing activities operate from a single leased facility in Petlad, Gujarat.
What's Next
Allotment is scheduled for 2026-09-03. Shares are expected to list on 2026-09-07. Basis of allotment will be determined by the registrar based on final subscription status.
Will the complete absence of QIB participation on Day 1 deter institutional interest in the remaining days, or is this typical for niche technical textile IPOs?
How might the company's heavy reliance on imported raw materials impact its profitability if forex volatility increases before the IPO closes?
Given that 68-72% of revenue comes from top customers without long-term contracts, what strategies will Ashutosh Fibre employ to secure post-IPO revenue stability?
20
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
