Shreedhar Spinners initial public offering (IPO) has opened for subscription on Tuesday, 23 June. The ₹30.68 crore SME will remain open till Thursday, 25 June.
Established in 2020, Maharashtra-based Shreedhar Spinners is engaged in the production of 100% compact spun cotton yarn, offering counts ranging from Ne 10s to Ne 40s. The company operates a spinning unit at Amravati Textile Park, equipped with 28,608 spindles and an annual installed capacity of 10,000 metric tonnes.
Its products are supplied to textile manufacturers for a wide range of knitting and weaving applications, including apparel, denim, bed linen, socks, furnishing fabrics, and industrial textiles. Shreedhar Spinners primarily serves business-to-business (B2B) customers.
Shreedhar Spinners IPO subscription status
The Shreedhar Spinners IPO has been subscribed over 0.10 times so far on the first day of bidding. The SME has received 3,70,000 shares against offered 37,84,000 shares.
The retail category was subscribed 0.08 times on the first day. Meanwhile, non-institutional investors (NIIs) has received 0.26 times subscription. QIB section has remained unsubscribed.
Shreedhar Spinners IPO GMP today
The shares of Shreedhar Spinners IPO are trading at a premium of ₹0, according to websites tracking grey market. The GMP of Shreedhar Spinners IPO is +0, as per Investorgain.
The estimated listing price of Shreedhar Spinners IPO is likely to be same as IPO price of ₹53.
Shreedhar Spinners IPO details
The company plans to raise ₹30.68 crore through a fresh issue of 57.88 lakh equity shares. The price band has been set at ₹51–53 per share, with the stock slated to debut on the NSE SME platform on July 1.
Retail investors must apply for a minimum of 4,000 shares, translating into an investment of ₹2.12 lakh at the upper end of the price range.
Funds raised from the issue will primarily be utilized to support working capital needs, acquire machinery for the existing manufacturing unit, and meet general corporate requirements.
Marwadi Chandarana Intermediaries Brokers Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Shreedhar Spinners posted a 9% year-on-year increase in revenue to ₹146.55 crore in FY26, while its profit after tax surged 81% to ₹6.17 crore. The company reported EBITDA of ₹17.62 crore for the year.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.