Shree Ram Twistex IPO opens for subscription today. Check GMP, price band and other details

Shree Ram Twistex's Rs 110 crore IPO has opened for subscription on Monday, with grey market premium at around 5%, indicating expectations of moderate listing gains. The issue is entirely a fresh issue of 1.06 crore shares and is priced in the band of Rs 95 to Rs 104 per share.

At the upper end, the IPO values the company at a pre-issue market cap of Rs 416 crore. The offer will close on February 25, with allotment likely on February 26 and listing tentatively scheduled for March 2 on BSE and NSE.

Investors can bid for a minimum of 144 shares, translating into an investment of Rs 14,976 at the upper price band. The issue is structured with at least 75% reserved for qualified institutional buyers, up to 15% for non-institutional investors and up to 10% for retail investors.

About the company

Shree Ram Twistex manufactures cotton yarns including compact ring spun and carded yarns, both combed and carded varieties. Its products are used in knitting and weaving applications such as denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear and home textiles.

The company also produces value-added yarns such as Eli Twist, compact slub yarns and lycra-blended yarns. It operates on a B2B model, supplying textile manufacturers, garment exporters, bulk buyers and fabric processors across multiple states including Gujarat, Rajasthan, Maharashtra, Tamil Nadu and West Bengal, along with exports.

Its manufacturing facility is located in Gondal, Rajkot, Gujarat, with 17 compact ring-spinning machines and a total spindle count of 27,744. It also operates five warehouses with a combined storage capacity of 9,855 MT.

Financial performance

For FY25, the company reported total income of Rs 256 crore, up from Rs 232 crore in FY24. Profit after tax stood at Rs 8 crore in FY25 compared with Rs 6.55 crore in FY24. EBITDA improved to Rs 22 crore from Rs 20 crore a year earlier.

As of September 2025, total income was Rs 132 crore and PAT was Rs 7 crore. EBITDA margin improved to 12.9% in FY25 from 8.57% in FY24, while PAT margin rose to 3.14% from 2.83% earlier.

Use of proceeds

The company plans to use the IPO proceeds to set up a 6.1 MW solar power plant and a 4.2 MW wind power plant for captive use, repay certain borrowings of about Rs 14.89 crore and fund working capital requirements of Rs 44 crore. The shift to captive renewable energy is expected to lower power costs, which form a key component of spinning operations.

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