The initial public offering (IPO) of Shree Ram Twistex Ltd. will open for subscription today. The Gujarat-based cotton yarns manufacturer is aiming to raise more than Rs 110 crore from the primary market through its IPO. The IPO will remain open for subscription from Feb 23-25.
Ahead of its launch, private market investors are closely tracking the grey market premium (GMP) for the Shree Ram Twistex IPO, which has remained constant since the announcement of the IPO price band.
Here's all you need to know about the Shree Ram Twistex IPO, including the latest GMP, price band, offer details, important dates and more.
Shree Ram Twistex IPO GMP Today
As per InvestorGain, the GMP for the Shree Ram Twistex IPO stood at Rs 5 per share on Feb. 23. The latest GMP indicates a potential listing price of Rs 109 apiece at a premium of 4.81% over the upper limit of the issue price of Rs 104 per share.
Note: GMP does not represent official data and is based on speculation.
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Shree Ram Twistex IPO: Important Details
The Shree Ram Twistex IPO is a book-building issue worth Rs 110.24 crore. The mainboard IPO comprises only a fresh issuance of 1.06 crore shares without any offer-for-sale (OFS) component. The price band for the Shree Ram Twistex IPO has been set at Rs 95 to Rs 104 per share.
The lot size for the IPO comprises 144 shares. Retail investors are required to apply for at least a single lot size, aggregating to a minimum investment of Rs 14,976 on the upper limit of the issue price, per application. For small Non-Institutional Investors (NIIs), the minimum application size is 14 lots, amounting to an investment of Rs 2,09,664, while big NIIs can participate in the IPO bidding by applying for 67 lots, worth Rs 10,03,392.
Interactive Financial Services Ltd. is the book-running lead manager for the IPO, while Bigshare Services Pvt. Ltd. is the issue registrar.
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Shree Ram Twistex IPO: Important Dates
The company is expected to finalise the IPO share allotment status on Thursday, Feb. 26. Refunds for non-allottees will be processed on Feb. 27 and shares will also be transferred to the demat accounts of successful bidders the same day. Shares of Shree Ram Twistex Ltd. are tentatively scheduled to be listed on the NSE and BSE on Monday, March 2.
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Shree Ram Twistex IPO: Use Of Proceeds
Shree Ram Twistex has proposed to use the IPO funds for setting up a 6.1 MW solar power plant and a 4.2 MW wind power plant. A portion of the funds will be utilised for loan repayments and working capital needs. The remaining funds will be used for general corporate purposes
About Shree Ram Twistex
Shree Ram Twistex Ltd. is a manufacturer of cotton yarns, including compact ring spun and carded yarns. The company's yarns are used in knitting and weaving for various products. The company primarily supplies its products to textile manufacturers, garment exporters and fabric processors across Gujarat, Rajasthan, West Bengal, Maharashtra, Tamil Nadu, Madhya Pradesh, and Punjab.
The company also supplies its cotton yarns in the international market. Its manufacturing facility is located in Rajkot, Gujarat.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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