Shree Ram Twistex IPO Day 3: Issue subscribed over 31 times on final day; NII book crosses 157x, retail nearly 62x
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Shree Ram Twistex’s Rs 110.24 crore IPO is a book-built issue comprising a pure fresh issue of equity shares, priced in a band of Rs 95 to Rs 104 per share with a lot size of 144 shares. The issue opened for subscription on February 23 and closes today.
- Shree Ram Twistex IPO subscribed 31.2 times on final bidding day
- NII segment saw 157.7 times subscription, retail 61.8 times
- IPO proceeds to fund renewable energy, debt repayment, and more
The IPO of Shree Ram Twistex Ltd was subscribed 31.2 times as of 2:36 pm on Wednesday, February 25, the final day of bidding, led by overwhelming demand from non-institutional and retail investors.
The non-institutional investor (NII) segment of Shree Ram Twistex‘s initial public offering was subscribed 157.7 times, receiving bids for 25.1 crore shares against an allocation of 15.9 lakh shares. Within this, applications above Rs 10 lakh were subscribed 170 times, while bids in the Rs 2 lakh to Rs 10 lakh bracket were subscribed 133.1 times, highlighting aggressive participation from high-net-worth individuals.
The retail individual investor (RII) portion was subscribed 61.8 times, with bids for 6.6 crore shares against 10.6 lakh shares on offer. Most retail applications were placed at the cut-off price, reflecting strong conviction at the upper end of the price band.
The qualified institutional buyer (QIB) category was subscribed 1.8 times, with bids for 1.4 crore shares against an allocation of 79.5 lakh shares. Demand in the institutional book was largely driven by foreign institutional investors, while participation from domestic financial institutions and mutual funds remained limited.
Overall, the IPO received bids for 33.1 crore shares, compared with an issue size of 1.1 crore shares.
Shree Ram Twistex’s Rs 110.24 crore IPO is a book-built issue comprising a pure fresh issue of equity shares, priced in a band of Rs 95 to Rs 104 per share with a lot size of 144 shares. The issue opened for subscription on February 23 and closes today. The allotment is expected to be finalised on February 26, with listing on the BSE and NSE tentatively scheduled for March 2.
The proceeds from the issue are proposed to be used primarily for funding renewable energy projects, including a 6.1 MW solar power plant and a 4.2 MW wind power plant for captive consumption, apart from repayment or prepayment of borrowings, working capital requirements, and general corporate purposes.
Shree Ram Twistex is a cotton yarn manufacturer supplying compact ring-spun and carded yarns, including value-added variants such as Eli Twist, slub yarns and lycra-blended yarns, to textile manufacturers and garment exporters on a B2B basis. Its manufacturing facility is located in Gondal, Rajkot, Gujarat, with a spindle capacity of 27,744, supported by multiple warehousing facilities. The issue is being managed by Interactive Financial Services as the book-running lead manager, with Bigshare Services acting as the registrar.
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