Shree Ram Twistex IPO Allotment Set as Demand Surges
Shree Ram Twistex IPO Allotment Set as Demand Surges
Shree Ram Twistex's IPO attracted robust demand with a Rs 95-104 price band, 1.06 crore shares, and 43.66x overall subscriptions; allotment on Feb 26 and GMP signals a cautious listing.
Shree Ram Twistex’s IPO saw strong investor interest, with bids flooding in during the offer period from February 23 to 25. The cotton yarn maker had offered shares in a price band of Rs 95-104 per share and a lot size of 144 shares, aiming to raise a total of Rs 110 crore through a fresh issue of 1,06,00,000 equity shares. The basis of allotment is slated to be finalized on February 26, and bidders can expect messages or alerts confirming debit of funds or mandate revocation by February 27 or over the weekend at the latest. The issue was fully subscribed, signaling healthy demand despite broader market nerves.
The latest subscription data show the IPO attracting roughly 43.66 times the total bids, with investor participation surpassing Rs 4,800 crore across more than 5.63 lakh applications. Non-institutional investors (NIIs) led the demand by subscribing about 220.30 times, while retail investors subscribed at around 76.63 times. In contrast, qualified institutional bidders (QIBs) were subdued, with subscription around 3.94 times.
GMP or grey-market premium has been volatile in recent days, reflecting fluctuating market sentiment. Early whispers of a discount to listing gave way to a more nuanced picture, with GMP hovering in the Rs 14-17 range on the closing bidding day after previously suggesting larger discounts. Such movements often imply investors expect a modest first-day listing performance, even as public interest remains strong.
Shree Ram Twistex is Rajkot-based and specializes in cotton yarns, including compact ring-spun and carded varieties, used across denim, towels, shirting, sheeting, sweaters and other textile products. The company also offers value-added yarns, positioning itself in a competitive segment of the textile sector. The IPO’s proceeds are entirely a fresh issue, intended to fund growth and expansion plans for the yarn manufacturer.
Looking ahead, bidders will wait for the allotment confirmation on February 26, followed by fund debits by February 27. While listing specifics remain subject to market conditions, the strong subscription trajectory suggests continued investor interest in niche textile plays, even as GMP signals keep expectations tempered among new investors.
