Shree Ram Twistex IPO Records 5% Subscription on First Day, GMP and Key Details to Watch

Shree Ram Twistex IPO Sees 5% Subscription on First Day

The initial public offering (IPO) of Shree Ram Twistex received a 5% subscription on the first day of share sale, with a total of 5.38-lakh shares bid for against the 1.06-crore shares on offer, as per the NSE data available till 12:45 pm.

The subscription figures indicate a moderate response to the IPO, with the quota for retail individual investors subscribed 48% and the portion for non-institutional investors receiving a 2% subscription. The company's Rs 110 crore initial public offering will conclude on February 25, with a price band of Rs 95-104 per share.

Grey market activity indicates a potential listing gain for the company's shares, with a GMP of up to 5% in the unofficial market. Investorgain quoted a GMP of Rs 5.5 per share, indicating a listing gain of 5.29%, while IPO Watch quoted a GMP of 4.81%.

Read also: SMR Jewels IPO Successfully Lists with Institutional Support

Shree Ram Twistex will finalise IPO share allotment by February 26 and list its equity shares on the bourses on March 2. The company is one of three mainboard IPOs opening next week, following Clean Max Enviro Energy Solutions' Rs 3,100-crore public issue and PNGS Reva Diamond Jewellery's Rs 380-crore offer.