Shree Ram Twistex Shares Plummet on Market Debut, List at 35% Discount on National Stock Exchange
Shree Ram Twistex Shares Plummet on Market Debut
Market Capitalization: Rs 279.03 crore Listing Price (BSE): Rs 70 per share Discount: 32.69% Issue Size: Rs 110 crore Price Band: Rs 95-104 per share Subscription Ratio: 43.66 times
Shree Ram Twistex, a B2B textile player, made its market debut on Monday with its shares listed at a discount. The company's shares were priced at Rs 68 per share, a 34.61% discount from the upper end of the price band of Rs 104 per share.
The company's market capitalization post listing stood at Rs 279.03 crore. The initial public offer (IPO) received a subscription ratio of 43.66 times in the primary market between February 23-25.
Read also: SMR Jewels IPO Successfully Lists with Institutional Support
Shree Ram Twistex has been improving its margins by shifting towards captive green energy and operational efficiencies. The company's improving profitability trend and strong subscription ratio may attract medium- to long-term investors. However, the short-term outlook appears weak due to the discounted listing and risk of oversold conditions.
Investor Takeaway
Investors should avoid panic selling on the listing day if the company's fundamentals remain intact.
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