Shree Ram Twistex IPO Sees 35% Subscription on Day 2, Led by Retail and NII Investors

Shree Ram Twistex IPO Sees 35% Subscription on Second Day

The Shree Ram Twistex initial public offering (IPO) received bids for 37.61 lakh shares, representing a 35% subscription, on the second day of its share sale. The company's Rs 110 crore IPO will conclude on February 25.

Subscription Breakdown

• Retail individual investors subscribed 2.23 times, while non-institutional investors received 86% subscription.
• The portion for non-institutional investors received a higher subscription compared to the retail individual investors.

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Grey Market Activity

The shares of Shree Ram Twistex are commanding a Grey Market Premium (GMP) of up to 9% in the unofficial market. Investorgain quoted a GMP of Rs 9 per share, indicating a listing gain of 8.65%. IPO Watch quoted a GMP of 7.21%.

IPO Timeline

• The IPO will conclude on February 25.
• The company will finalize IPO share allotment by February 26.
• The equity shares will be listed on the bourses on March 2.
• Shree Ram Twistex will join other mainboard IPOs, including Clean Max Enviro Energy Solutions and PNGS Reva Diamond Jewellery, which are scheduled to open next week.

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