Shreedhar Spinners IPO listing: Shares of Shreedhar Spinners made a positive debut and extended gains to hit their upper price band on the NSE SME on Wednesday, 1 July. Shreedhar Spinners’ share price was listed at ₹54.40, up 2.6% from the issue price of ₹53 and rose 7.74% from the IPO price to hit its upper circuit of ₹57.10.
The SME stock’s listing was slightly better than expected, as the last grey market premium (GMP) indicated the stock could see a flat listing.
Shreedhar Spinners IPO details
opened for public subscription on Tuesday, 23 June, and concluded on Thursday, 25 June, with an overall subscription of nearly 7 times.
The IPO was an entirely fresh issue of 57,88,000 shares, priced at ₹51 to ₹53 per share, and aimed to raise about ₹30.68 crore, which the company intends to use for meeting working capital requirements, the purchase of machinery in the existing manufacturing facility at Amravati, Maharashtra, and for general corporate purposes.
Shreedhar Spinners is engaged in the manufacturing of compact spun cotton yarn of various counts at its manufacturing facility in Amravati, Maharashtra.
The company operates exclusively in the business-to-business (B2B) segment, supplying its products to textile manufacturers, yarn exporters, traders and fabric processors.
The company’s revenue from operations for FY24, FY25, and FY26 stood at ₹126.14 crore, ₹134.27 crore, and ₹146.37 crore, respectively. Profit for FY24 was ₹3.35 crore, which rose to ₹3.42 crore in FY25, and to ₹6.17 crore in FY26.
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