Shree Ram Twistex Ltd. is gearing up to launch its initial public offering (IPO) next week. The Gujarat-based cotton yarns manufacturer is aiming to raise more than Rs 110 crore from the primary market through its IPO.
Ahead of its public issue opening on Feb. 23, investors are closely tracking the grey market premium (GMP) for the Shree Ram Twistex IPO.
Investors who want to participate in the Shree Ram Twistex IPO subscription can check the following details before submitting their bids.
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. 20. 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: Offer Size, Price Band And Other Key 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 between Rs 95 and 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.
The Shree Ram Twistex IPO will remain open for subscription till Feb. 25. The company is expected to finalise the IPO share allotment status on Feb. 26. Refunds for non-allotees 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 March 2.
Interactive Financial Services Ltd. is the book-running lead manager for the IPO, while Bigshare Services Pvt. Ltd. is the issue registrar.
The company has reserved 75% of the issue for Qualified Institutional Buyers (QIBs). Retail investors will be allocated a maximum of 10% of the issue and the remaining 15% will be set aside for the NIIs.
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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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