4 hrs ago
Aastha Spintex Shares Rise as Rooftop Solar Project Advances
Aastha Spintex owns or is acquiring a textile business called Falcon Yarns.
Falcon is building solar panels on the roof of its factory in Gujarat.
The solar system is designed to produce power mainly for Falcon’s own factory.
Workers have started installing the supporting structures for the panels.
The company said much of the marking work and some installation work had already been completed.
The project has been registered by the Gujarat Energy Development Agency, but it is not running yet.
More checks, agreements, meters and permissions are still needed.
If the plant is completed, it could help Falcon use less electricity from the grid during sunny hours.
The company’s shares rose after investors received the progress update.
Aastha Spintex shares rose as much as 4.4% to ₹77.87 and closed 3.66% higher at ₹77.30 on BSE on September 17, 2026.
The stock’s gain followed an update that Falcon Yarns’ rooftop solar project had entered on-site execution.
The Gujarat Energy Development Agency registered the project for 1,000 kW AC and 1,350 kW DC capacity at Falcon’s Bharudi facility.
As of September 16, module-mounting-structure marking was about 70% complete and installation about 40% complete, with 13 personnel on site.
The project is not commissioned yet and still requires utility, technical, metering, regulatory and statutory approvals before operating benefits begin.
- Who
- Aastha Spintex and Falcon Yarns Private Limited; the Gujarat Energy Development Agency registered the solar project.
- What
- A rooftop solar photovoltaic project has moved into on-site execution, with supporting-structure work underway.
- Where
- Falcon Yarns’ manufacturing facility in Bharudi, Gondal, in Gujarat’s Rajkot district.
- When
- Aastha Spintex issued the update before or on September 17, 2026; the cited progress report was dated September 16, 2026.
- Why
- The captive solar project is intended to support Falcon’s manufacturing operations and potentially reduce grid electricity use during solar-generation hours.
Positive Project Progress
Commissioning Caveats
Meaning of the update
Positive Project Progress
The project has moved from planning into physical on-site execution, with substantial progress reported in structure marking and installation.
Commissioning Caveats
The company said the project should be described as “GEDA registered and under execution,” not as a commissioned solar plant.
Potential business benefit
Positive Project Progress
Once operational, captive solar power could increase renewable-energy use at Falcon’s facility and reduce grid electricity purchases during solar-generation hours.
Commissioning Caveats
Actual savings will depend on irradiation, plant availability, captive consumption, tariff structure and other operating factors.
Remaining approvals
Positive Project Progress
GEDA registration and ongoing construction represent progress toward the manufacturing-support infrastructure planned for Falcon’s facility.
Commissioning Caveats
Technical feasibility, utility connectivity, metering, electrical approvals and compliance with applicable policies and regulations are still required before commercial and operating benefits begin.
Key facts
- Share price reaction
- Aastha Spintex reached ₹77.87 and closed at ₹77.30, up 3.66% on BSE on September 17, 2026.
- IPO comparison
- The stock was reported to be 43% below its ₹136 IPO issue price.
- Solar capacity
- The registered system has 1,000 kW AC and 1,350 kW DC capacity, equivalent to 1.35 MW DC.
- Project model
- The system is being implemented in CAPEX mode and is intended for captive use by Falcon Yarns.
- Construction progress
- MMS marking was approximately 70% complete and MMS installation approximately 40% complete as of September 16, 2026.
- Site workforce
- Thirteen personnel were deployed at the project site according to the Daily Progress Report.
- Pending requirements
- Technical feasibility, a connectivity agreement, an appropriate bi-directional meter, approvals and charging permission remain among the outstanding requirements.
Quotes
Aastha Spintex
The company providing the rooftop solar project update
“The project has now moved into on-site execution”
livemint.com
Sources
Related news
Aastha Spintex Advances Rooftop Solar Project After GEDA Registration
Aastha Spintex Hits Upper Circuit After Dividend Record Date
Rhetan TMT Hits Upper Circuit Amid Market Crash
Saatvik Green Energy Hits Upper Circuit After ₹1,042 Crore Order
Ceigall India Jumps After ₹5,300 Crore Transmission Project LoI
Rhetan TMT Begins Solar Power, Gains Government Order Access
Uttar Pradesh Leads India’s Residential Solar Growth Under PM Scheme
Lucknow Roadshow Spotlights North India’s Renewable Energy Opportunities
India to Host Global Agrivoltaics Conference in 2026
