Shree Ram Twistex IPO Day 2: 11% Subscription Secured, Market Outlook and Key Details Revealed
Shree Ram Twistex IPO Update
IPO Details
- Company Name: Shree Ram Twistex Ltd
- IPO Price Band: ₹95 to ₹104 per share
- Lot Size: 144 shares
- Minimum Investment: ₹14,976
- Fresh Issue: 1.06 crore equity shares
- Net Issue Proceeds: ₹110.24 crore
IPO Timeline
- Subscription Period: February 23-25
- Allotment Date: February 26
- Listing Date: March 2
IPO Subscription Status
- Subscription Status: 11% subscribed on February 23
- Retail Individual Investors (RIIs) Category: 95% booked
- Non Institutional Investors (NII) Segment: 12% subscribed
- Qualified Institutional Buyers (QIBs): No bids received
Grey Market Premium (GMP)
Read also: SMR Jewels IPO Successfully Lists with Institutional Support
- Shree Ram Twistex IPO GMP: ₹7.5 per share
- Estimated Listing Price: ₹111.5 per share (7.21% premium to IPO price)
IPO Review
Shree Ram Twistex operates as a manufacturer of cotton yarns, catering to a wide range of textile applications. The company is positioned to benefit from rising demand for cotton-based products, growth in domestic consumption, and expanding export opportunities in the Indian textile sector. Investors may consider the Shree Ram Twistex IPO as a potential long-term investment opportunity.
Valuation
The company's valuation at around 29x-30x P/E already factors in most of the future growth. Compared to cheaper listed peers, near-term upside looks limited. Overall, it is suitable only for high-risk, long-term investors, and may not be suitable for investors seeking listing gains or safe, value-based entries.
Investor Takeaway
Investors should note the muted demand on the first day of the IPO and the company's plans for utilising the net issue proceeds.
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