Shree Ram Twistex IPO: The initial public offering (IPO) of cotton yarns manufacturer Shree Ram Twistex Ltd enters its second day of bidding process today, 24 February, Tuesday. The mainboard IPO received muted demand on the first day.
opened for subscription on Monday, February 23, and will close on Wednesday, February 25. The IPO allotment date is likely February 26, and the IPO listing date is March 2. Shree Ram Twistex shares will be listed on both the stock exchanges, and NSE.
The company aims to raise ₹110.24 crore from the book-building issue, which is entirely a fresh issue of 1.06 crore equity shares. is set at ₹95 to ₹104 per share. The IPO lot size is 144 shares and the minimum investment amount required by a retail investor is ₹14,976.
Shree Ram Twistex Ltd proposes to utilise the net issue proceeds towards the funding for setting up Solar Power Plant and Wind Power Plant, repayment and/or pre-payment of certain of its borrowings, funding the working capital requirements and for general corporate purposes.
Interactive Financial Services Ltd. is the book running lead manager and Bigshare Services Pvt. Ltd. is the Shree Ram Twistex IPO registrar.
Shree Ram Twistex IPO Subscription Status
Shree Ram Twistex IPO saw muted demand so far. The public issue was subscribed 11% on February 23, the first day of the bidding process, as it received bids for 12.03 lakh equity shares as against 1.06 crore shares on the offer.
The Retail Individual Investors (RIIs) category was booked 95%, while the Non Institutional Investors (NII) segment was subscribed 12%. The Qualified Institutional Buyers (QIBs) are yet to bid for the issue.
Shree Ram Twistex IPO GMP Today
Shree Ram Twistex IPO is commanding a muted grey market premium (GMP) amid slow demand. According to experts, Shree Ram Twistex IPO GMP today is ₹7.5 per share. This means that in the grey market, Shree Ram Twistex shares are trading higher by ₹7.5 apiece than their issue price.
today signals that the estimated listing price of the stock would be ₹111.5 apiece, which is at a premium of 7.21% to the IPO price of ₹104 per share.
Shree Ram Twistex IPO Review
Shree Ram Twistex operates as a manufacturer of cotton yarns, catering to a wide range of textile applications.
“With its presence in the B2B segment, established customer relationships, and strategically located manufacturing facility, the company is positioned to benefit from rising demand for cotton-based products, growth in domestic consumption, and expanding export opportunities in the Indian textile sector. Investors may consider the as a potential long-term investment opportunity,” said Master Capital Services Ltd.
The company is showing improving margins and strong earnings momentum, supported by its shift to captive green energy.
“Shree Ram Twistex IPO valuation at around 29x-30x P/E already factors in most of the future growth. Compared to cheaper listed peers, near-term upside looks limited. Overall, it is suitable only for high-risk, long-term investors, Avoid for investors seeking listing gains or safe, value-based entries,” suggested Swastika Investmart.
The brokerage firm believes the Shree Ram Twistex IPO appears fully priced to be overvalued, leaving little “margin of safety” for retail investors.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.