Shree Ram Twistex to List on Monday: Expected Pricing and Details Revealed

Shree Ram Twistex IPO: Grey Market Premium Indicates Potential Discount

Shree Ram Twistex, a manufacturer of cotton yarns, is set to debut on the bourses on March 02. Despite receiving a solid response from investors during its three-day IPO bidding period, the grey market premium (GMP) suggests that the stock might list at a discount to its issue price.

Grey Market Premium Details The current GMP of ₹-20 per share indicates that the stock could list at ₹84 per share, a 20% discount from the IPO price of ₹104 apiece. The GMP has fluctuated over the past few sessions, trading at ₹7.5 per share at the beginning of the bidding period, ₹13.5 in the following session, ₹17 in the previous session, and ₹20 in the current session.

IPO Subscription Details The company raised ₹110.24 crore from investors through a fresh issue of 1.06 crore shares. The subscription attracted bids worth ₹4,813 crore, 43.66 times higher than its offer size. Non-institutional investors placed bids worth ₹3,642 crore, while the retail portion was subscribed 76.63 times and the qualified institutional buyer (QIB) portion was subscribed 3.94 times.

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Company Overview Shree Ram Twistex is engaged in the manufacturing of cotton yarns, including compact ring-spun and carded yarns. Its product range also includes value-added yarns such as Eli Twist (combed and carded), compact slub yarns, and Lycra-blended yarns. The company operates exclusively in the business-to-business (B2B) segment, supplying its products to institutional buyers.