Shree Ram Twistex IPO: The initial public offering (IPO) of Shree Ram Twistex closed with a bumper demand on Wednesday, February 25, with massive demand seen from the non-institutional investors (NIIs).
The IPO, which opened on Monday, was booked 75% as of the second day of bidding. However, on the third and final day, the book-built offer witnessed massive traction.
According to data from BSE, Shree Ram Twistex IPO was subscribed 43.66 times as it garnered bids for 46,28,41,632 shares as against 1,06,00,000 shares on offer. The NII portion was booked the most at 220.30 times.
Meanwhile, the retail quota was subscribed 76.63 times and the qualified institutional buyer (QIB) segment saw 3.94 times bids.
Shree Ram Twistex IPO GMP today
The gray market premium (GMP) for Shree Ram Twistex IPO is at its highest so far of ₹13.5, according to websites tracking the unofficial market. The latest Shree Ram Twistex IPO GMP signals that shares of the company could list at a 12.98% premium.
GMP signals investor willingness to pay over and above the offer price. However, it is subject to swift changes.
Shree Ram Twistex IPO details
Shree Ram Twistex IPO, worth ₹110 crore, was entirely a fresh share sale of 1.06 crore shares. The offer was priced at ₹95 to ₹104 apiece, with no offer-for-sale component.
The entire proceeds will be received by the company, which it plans to deploy for the establishment of a 6.1 MW and 4.2MW solar plants, repayment of certain borrowings, meeting working capital requirements and general corporate purposes.
Investors could apply for the offer in lots of 144 shares, and its multiples thereof.
Shree Ram Twistex IPO’s allotment status is expected to be finalized on Thursday, February 26. Meanwhile, Shree Ram Twistex shares will list on BSE and NSE on Monday, March 2.
About the company
Shree Ram Twistex is engaged in the manufacturing of cotton yarns, including compact ring spun and carded yarns, both combed and carded. Its product portfolio also includes value-added yarns such as Eli Twist (combed and carded), compact slub yarns, and Lycra-blended yarns.
These yarns are used in knitting and weaving applications across denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear, home textiles, and industrial fabrics.
Welspun Living Limited and Jindal Worldwide Limited are some of the company’s customers.
Its revenue from operations has grown at a compound annual growth rate (CAGR) of 2.04%, increasing from ₹217.97 crore for the fiscal year ended March 31, 2022, to ₹231.59 crore for the fiscal year ended March 31, 2024.
During the same period, profit after tax (PAT) recorded strong growth, rising at a CAGR of 21.67% from ₹3.63 crore in Fiscal 2022 to ₹6.55 crore in Fiscal 2024.
Interactive Financial Services is the book-running lead manager, and BigShare Services is the registrar to the offer.
Disclaimer: This story is for educational purposes only. We advise investors to check with certified experts before making any investment decisions.
