Shree Ram Twistex IPO Day 1: Retail investors subscribe 82%; check GMP and other details

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Shree Ram Twistex’s Rs 110 crore IPO opened for subscription today. On the first day so far, the overall issue has received subscriptions for only 9% of the 1.06 crore shares on offer. The retail portion, however, has been subscribed 82%. The IPO will close on February 25, with allotment expected on February 26 and a tentative listing on the BSE and NSE on March 2.

In the grey market, the shares are trading at a premium of around 6%, suggesting expectations of moderate listing gains. The issue is a 100% fresh issue of 1.06 crore shares, priced in the range of Rs 95 to Rs 104 per share.


Shree Ram Twistex IPO Day subscription status:

  • As of 3:20 PM on the first day of subscription, Shree Ram Twistex’s IPO has received an overall subscription of just 9%.
  • Retail Individual Investors (RIIs) have shown strong interest, subscribing 82% of the 10.60 lakh shares allocated to them.
  • Non-Institutional Investors (NIIs) have subscribed to only 8% of their 15.90 lakh share allocation, indicating limited participation.
  • Qualified Institutional Buyers (QIBs) have not placed any bids so far for the 79.50 lakh shares reserved for them.
  • This shows that while retail investors are relatively active, institutional participation on Day 1 remains weak, contributing to the low overall subscription.

Shree Ram Twistex IPO GMP today

As of February 23, Shree Ram Twistex’s shares are trading in the grey market at a premium of 6.25% (around Rs 6.50 per share) over the upper price band of Rs 104. Based on this, the IPO’s estimated listing price is expected to be approximately Rs 110.50, suggesting modest gains for investors on listing day.


Shree Ram Twistex IPO details

Shree Ram Twistex’s IPO is a 100% fresh issue, offering 1.06 crore shares worth Rs 110.24 crore.

At the upper price band, the IPO values the company at a pre-issue market capitalisation of Rs 416 crore. The subscription window closes on February 25, with allotment expected on February 26 and a tentative listing on the BSE and NSE on March 2.

Investors can apply for a minimum of 144 shares, which would require an investment of Rs 14,976 at the upper price band. The issue is structured with 75% of shares reserved for Qualified Institutional Buyers (QIBs), up to 15% for Non-Institutional Investors (NIIs), and up to 10% for Retail Investors.


About the company

Shree Ram Twistex manufactures cotton yarns, including compact ring spun and carded yarns, both combed and carded varieties. Its products are used in knitting and weaving applications such as denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear and home textiles.

The company also produces value-added yarns such as Eli Twist, compact slub yarns and Lycra-blended yarns. It operates on a B2B model, supplying textile manufacturers, garment exporters, bulk buyers and fabric processors across multiple states, including Gujarat, Rajasthan, Maharashtra, Tamil Nadu and West Bengal, along with exports.

Its manufacturing facility is located in Gondal, Rajkot, Gujarat, with 17 compact ring-spinning machines and a total spindle count of 27,744. It also operates five warehouses with a combined storage capacity of 9,855 MT.

Financial performance

For FY25, Shree Ram Twistex reported a total income of Rs 256 crore, up from Rs 232 crore in FY24. Profit after tax (PAT) rose to Rs 8 crore from Rs 6.55 crore in the previous year, while EBITDA increased to Rs 22 crore from Rs 20 crore.

As of September 2025, the company’s total income stood at Rs 132 crore with a PAT of Rs 7 crore. The EBITDA margin improved significantly to 12.9% in FY25 from 8.57% in FY24, and the PAT margin rose to 3.14% from 2.83%, reflecting better operational efficiency and profitability.


Use of proceeds

The company plans to use the IPO proceeds to set up a 6.1 MW solar power plant and a 4.2 MW wind power plant for captive use, repay certain borrowings of about Rs 14.89 crore and fund working capital requirements of Rs 44 crore. The shift to captive renewable energy is expected to lower power costs, which form a key component of spinning operations.

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