Shree Ram Twistex IPO Listing Imminent: GMP and Subscription Trends Indicate Market Sentiment

Shree Ram Twistex IPO Listing Scheduled for March 2

Key Highlights

• Shree Ram Twistex IPO allotment has been finalized.
• Crediting of shares to demat accounts took place on February 27.
• Refunding to non-allotted investors was completed on February 27.
• The IPO received a healthy response from non-institutional investors (NIIs) and retail investors.
• Qualified institutional buyers (QIBs) showed a subscription rate of 3.94 times.

IPO Details

Read also: SpaceX Seeks Record $75 Billion IPO, Potentially Positioning Elon Musk as the World's First Trillionaire

• Shree Ram Twistex is set to raise ₹110.24 crore through its initial public offering.
• The company plans to allocate funds for various initiatives, including:
  • Setting up a 4.2 MW wind power facility for internal consumption (₹39 crore).
  • Settling debts (₹14.89 crore).
  • Enhancing working capital (₹44 crore).
  • General corporate expenditures.

IPO Pricing

• The IPO price band was fixed at ₹95-104 per share.
• The estimated listing price of Shree Ram Twistex shares is indicated as ₹81 apiece, which is 22.12% lower than the IPO price of ₹104.
• The current grey market premium (GMP) is -23, indicating a downward trend.