Shree Ram Twistex IPO Day 1: Check subscription status, price band, lot size and key dates

Shree Ram Twistex IPO: The initial public offering of cotton yarn maker Shree Ram Twistex opened for subscription on Monday, February 23. The issue will conclude on Wednesday, February 25. The price band has been fixed at ₹95 to ₹104 per share.

The ₹110.24 crore issue is solely a fresh issuance of 1.06 crore shares, with no offer for sale (OFS) component.

The net issue proceeds will be utilised for setting up solar and wind power plants, debt repayment, working capital needs and general corporate purposes.

Shree Ram Twistex IPO Day 1: Subscription status

The issue has been subscribed 7% so far on the first day of bidding. It got bids for 7,65,504 shares as against 1,06,00,000 shares on offer, according to the NSE data until 1:52 pm.

Shree Ram Twistex IPO: Lot size

A lot consists of 144 shares and in multiples thereafter. The company has reserved 75% of the net offer for qualified institutional buyers, 10% for retail investors and 15% for non-institutional investors.

Shree Ram Twistex IPO: Allotment and listing dates

• IPO subscription dates: February 23 to February 25
• Allotment finalisation: February 26
• Initiation of refund: February 27
• Credit to shares to Demat account: February 27
• Listing on stock exchanges: March 2

Shree Ram Twistex manufactures cotton yarns, including compact ring-spun and carded yarns, both carded and combed. Its product range also includes value-added yarns like Eli Twist (combed and carded), lycra-blended yarns and compact slub yarns. Its yarns are utilised in both knitting and weaving, serving an array of end-use segments such as terry towels, denim, shirting, sweaters, socks, bottom wear, sheeting, home textiles, and industrial fabrics.

The company operates exclusively in the business-to-business segment, supplying its products to institutional buyers such as garment exporters, textile manufacturers, bulk purchasers and fabric processors.

Shree Ram Twistex IPO GMP

According to investorgain.com and media reports, Shree Ram Twistex's unlisted shares are trading at ₹109, reflecting a grey market premium (GMP) of 4.81% over the upper price band of ₹104.