Aastha Spintex Expands into Value-Added Textiles

Mumbai, Jul 20 (PTI) Gujarat-based integrated cotton yarn manufacturer Aastha Spintex plans to expand into forward integrated textile products, a statement said on Monday.

The company is looking to strengthen its position in the textile value chain by expanding into value-added fabric products to drive its growth, it said.


Divyang Jashwant Patel, Managing Director of Aastha Spintex Limited, said, "At Aastha Spintex, every phase of growth has been guided by a long-term vision of building a stronger and more integrated textile business. As we continue to strengthen our manufacturing capabilities, we believe this is the right time to move further along the textile value chain."

The company said its board will also consider a bonus issue of equity shares in the ratio of up to 1:1 (one bonus share for every one equity share held), a final dividend of up to 100 per cent.

The company recently completed the acquisition of Falcon Yarns Private Limited, more than doubling its annual spinning capacity from 7,700 MT to 17,457 MT.