Shree Ram Twistex IPO listing date has been scheduled for tomorrow (Monday, March 2). Shree Ram Twistex IPO allotment was finalised yesterday (Thursday, February 26). For those who have been allocated shares, the crediting of shares to demat accounts took place on Friday, February 27. The process of refunding those who have not yet received their shares was completed on Friday itself.
The cotton yarn manufacturer launched its IPO for subscription from Monday, February 23 to Wednesday, February 25. By the conclusion of the bidding period, the offering received a healthy response, particularly from non-institutional investors (NIIs) who subscribed 220.30 times, followed by retail investors who subscribed 76.63 times.
Qualified institutional buyers (QIBs) showed a subscription rate of 3.94 times. Notably, on the third day of the IPO, the Shree Ram Twistex IPO subscription status stood at 43.66 times, as reported by the BSE.
Shree Ram Twistex IPO has reserved 75% of the shares in the public issue for QIB, 15% for NII, and 10% of the offer is reserved for retail investors.
Shree Ram Twistex IPO price band was fixed at ₹95-104 per share.
Shree Ram Twistex IPO GMP today
Shree Ram Twistex IPO GMP is -23. Considering the upper end of the IPO price band and the current discount in the grey market, the estimated listing price of Shree Ram Twistex shares is indicated as ₹81 apiece, which is 22.12% lower than the IPO price of ₹104.
According to the recent 16 sessions of grey market activities, the current IPO GMP indicates a downward trend and is anticipated to have a listing at a discount. The minimum GMP recorded is ₹-23.00, while the maximum is ₹13.50, as noted by experts.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Shree Ram Twistex IPO details
Shree Ram Twistex is set to raise ₹110.24 crore through its initial public offering by offering 1.06 crore new equity shares. The company plans to strategically allocate these funds for several important initiatives. It will invest ₹39 crore to set up a 4.2 MW wind power facility for its internal consumption.
Moreover, ₹14.89 crore will be used to settle certain debts, and ₹44 crore will enhance its working capital. The remaining funds will be reserved for general corporate expenditures.
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