The initial public offering (IPO) of Shree Ram Twistex closed with a subscription of 43.62 times on the last day of bidding on Feb. 25. Investors placed bids for 46,23,71,472 shares, compared to 1,06,00,000 shares on offer. The Non-Institutional Investors (NIIs) led the demand, oversubscribing their portion by 220.26 times. The retail segment was booked 76.24 times, while the Qualified Institutional Buyers (QIBs) subscribed their quota 3.94 times.
Ahead of listing, here is a look at the latest GMP and the other key details about the Shree Ram Twistex IPO.
Shree Ram Twistex IPO Listing Date
The Shree Ram Twistex IPO listing date has been tentatively fixed as March 2. Shares of the company will be listed on the NSE and BSE.
Shree Ram Twistex IPO GMP Today
The grey market premium (GMP) for the Shree Ram Twistex IPO stood at Rs 27 lower than the upper limit of the issue price at 1 p.m. on March 1, according to InvestorGain. The latest GMP indicates an estimated listing price of Rs 77 per share, at a discount of 25.96% over the upper limit of the issue price of Rs 104.
Note: GMP does not represent official data and is based on speculation.
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Shree Ram Twistex IPO Key Details
The Shree Ram Twistex IPO, a book-building issue worth Rs 110.24 crore, consisted entirely of a fresh issue of 1.06 crore equity shares. The price band for the IPO was set between Rs 95 and Rs 104 per share.
The lot size for an application was 144 shares. The minimum investment required for a retail investor was Rs 14,976 (144 shares, based on the upper price) per application. For small NIIs, the lot size was 14 lots (2,016 shares), amounting to Rs 2,09,664, while for big NIIs, the bid size was 67 lots (9,648 shares), aggregating to a minimum investment of Rs 10,03,392.
The subscription window was open from Feb. 23 to Feb. 25. The IPO share allotment status was finalised by the company on Feb. 26. Shree Ram Twistex is scheduled to process refunds and credit of shares to the Demat accounts of successful bidders on Fe. 27.
Interactive Financial Services Ltd. was the book-running lead manager, while Bigshare Services Pvt. Ltd. served as the registrar for the issue.
About Shree Ram Twistex
Shree Ram Twistex produces a variety of cotton yarns, including compact ring-spun and carded types, in both combed and carded forms. These yarns are used in knitting and weaving to make products like denim, towels, shirts, sheets, sweaters, socks, bottoms, home textiles, and industrial fabrics.
The company's manufacturing facility is located in Gondal, Rajkot, Gujarat. It also operates five warehouses: two for raw materials, two for finished goods, and one for general storage.
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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