Ashutosh Fibre IPO Day 2 Live: Total at 2.64x, Retail leads - Check analysts view and more
- Ashutosh Fibre IPO total subscription stands at 2.64x on Day 2.
- Retail category leads with 4.15x subscription, up from 1.38x on Day 1.
- QIB subscription remains at 0.00x, while NII (bHNI) is at 2.37x.
- The company reported PAT of ₹16.04 crores for FY 2026, up from ₹8.51 crores in FY 2025.
- IPO closes on 02-09-2026 with listing scheduled for 07-09-2026.
*this image is generated using AI for illustrative purposes only.
Ashutosh Fibre IPO is racing ahead on Day 2, ticking up to a total subscription of 2.64x so far. Retail investors are leading the charge with a 4.15x bid, while the Qualified Institutional Buyer (QIB) category remains flat at 0x. The issue closes on September 2, 2026.
Subscription Status
The momentum picked up significantly after the market opened, with retail and non-institutional buyers driving the numbers. Here is the progression:
| 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 | 2.37x | 2.72x | 4.15x | 2.64x |
Intra-day timeline on 01-09-2026
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 2.37x | 4.15x | 2.64x |
Retail investors are clearly leading the pack, jumping from 1.38x on Day 1 to 4.15x by the end of Day 2. Non-Institutional Buyers (NII) also saw a sharp rise, with bHNI moving from 0.92x to 2.37x and sHNI from 1.44x to 2.72x. However, the QIB segment remains inactive at 0.00x, indicating that institutional interest may still be in the early stages or reserved for later days.
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 (industrial filtration, geotextiles), Protech (protective equipment), Hometech (home furnishing textiles), and Mobiltech (automotive friction materials). Headquartered in Ahmedabad, Gujarat, it utilizes Ring Spun, DREF friction spinning, and Open-End spinning technologies. Key management includes MD Siddharth Prakash Patel and CEO Abhishek Rajendrakumar Agarwal.
Financial Highlights
The company has shown steady growth in revenue and profitability over the last three years.
| Metric (₹ crores) | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|
| Revenue from Operations | 109.87 | 114.03 | 117.37 |
| Profit After Tax | 7.05 | 8.51 | 16.04 |
| Total Equity | 27.55 | 35.85 | 51.90 |
Revenue grew from ₹109.87 crores in FY 2024 to ₹117.37 crores in FY 2026. More notably, PAT more than doubled from ₹8.51 crores in FY 2025 to ₹16.04 crores in FY 2026, reflecting improved operational efficiency and margins.
Objects of the Issue
The proceeds from the IPO will be utilized for the following purposes:
- 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
Investors should consider these key risks before applying:
- Dependence on Key Customers: Top 10 customers contributed ~68.85% of revenue in FY 2026 without long-term agreements.
- Raw Material Supply Chain Dependency: Majority of raw materials sourced from top 10 suppliers; significant import dependency exposes to forex risks.
- Single Manufacturing Facility Concentration Risk: All manufacturing activities are concentrated in one leased facility in Petlad, Gujarat.
Key Dates
- Issue Open Date: 31-08-2026
- Issue Close Date: 02-09-2026
- Allotment Date: 03-09-2026
- Listing Date: 07-09-2026
Will the complete lack of QIB subscription by Day 2 signal potential pricing concerns or valuation mismatches that could impact listing gains?
How might the concentration of 68.85% of revenue from just 10 customers without long-term contracts affect the company's revenue stability post-listing?
Given the heavy reliance on imported raw materials, how exposed is Ashutosh Fibre's margin to future forex volatility and supply chain disruptions?
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