Shree Ram Twistex IPO opens Feb 23; check price band, objectives, lot size and key dates

Shree Ram Twistex IPO: The initial public offering of cotton yarn manufacturer Shree Ram Twistex will open on February 23 and conclude on February 25. The company has set a price band of ₹95 to ₹104 per share.

The ₹110.24 crore initial share sale is exclusively a fresh issuance of 1,06,00,000 shares, with no offer for sale (OFS) component.

The fresh issue proceeds will be used for the following objectives:

• Funding for setting up of a 6.1 MW solar power plant for captive use
• Funding for establishing a 4.2 MW wind power plant for captive use
• Pre-payment or repayment of certain borrowings
• Working capital needs
• General corporate purposes

"Our company expects to receive the benefits of listing of the equity shares on the stock exchanges and enhancement of our company’s visibility and brand image and creation of a public market for our equity shares in India," the firm said in its red herring prospectus.

Shree Ram Twistex IPO: Lot size

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

Shree Ram Twistex IPO: Allotment and listing date

• Shree Ram Twistex IPO subscription period: February 23 to February 25
• Allotment finalisation: February 26
• Refund initiation: February 27
• Credit of shares to Demat account: February 27
• Listing on stock exchanges: March 2

Interactive Financial Services is the issue's book-running lead manager, while Bigshare Services is the registrar.

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

It operates exclusively in the business-to-business segment, supplying products to institutional buyers like textile manufacturers, bulk purchasers, fabric processors and garment exporters.