Shree Ram Twistex IPO Day 2: Retail portion subscribed over 2x; GMP rises to 9%, check other key details

The Rs 110 crore IPO of Shree Ram Twistex has been subscribed 30% of the 1.06 crore shares on offer so far on its second day of bidding. The retail segment, however, has witnessed strong demand, with subscriptions reaching 2.02 times.

The issue will close on February 25, with allotment likely on February 26 and a tentative listing on the BSE Limited and NSE scheduled for March 2.

In the grey market, the shares are currently trading at a premium of about 9%, up from the earlier 6%, indicating a slight improvement in investor sentiment. The IPO is entirely a fresh issue of 1.06 crore shares, with a price band fixed at Rs 95 to Rs 104 per share.

Shree Ram Twistex IPO Day 2 subscription status:

As of 12:16 pm on Day 2, Shree Ram Twistex’s IPO has been subscribed 30% overall.

Retail Individual Investors (RIIs) have shown robust participation, subscribing 2.04 times the 10.60 lakh shares reserved for them.

Non-Institutional Investors (NIIs) have covered 65% of their allotted 15.90 lakh shares.

Meanwhile, Qualified Institutional Buyers (QIBs) are yet to place any bids for the 79.50 lakh shares set aside for their category.

Shree Ram Twistex IPO GMP today

As of February 24, 2026, Shree Ram Twistex’s shares are quoting at a grey market premium (GMP) of 9%, or roughly Rs 9 per share, above the upper price band of Rs 104. This indicates a likely listing price of around Rs 113, pointing to modest potential gains for investors on debut.

Shree Ram Twistex IPO details

Shree Ram Twistex’s IPO is entirely a fresh issue of 1.06 crore shares, aggregating to Rs 110.24 crore.

At the upper end of the price band, the company is valued at a pre-issue market capitalisation of Rs 416 crore. The public issue will close on February 25, with share allotment likely on February 26 and a tentative listing on the BSE and NSE scheduled for March 2.

Investors need to bid for a minimum of 144 shares, translating into an investment of Rs 14,976 at the upper price band. The issue allocation earmarks 75% for Qualified Institutional Buyers (QIBs), up to 15% for Non-Institutional Investors (NIIs), and up to 10% for Retail Investors.

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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, Shree Ram Twistex reported a total income of Rs 256 crore, up from Rs 232 crore in FY24. Profit after tax (PAT) rose to Rs 8 crore from Rs 6.55 crore in the previous year, while EBITDA increased to Rs 22 crore from Rs 20 crore.

As of September 2025, the company’s total income stood at Rs 132 crore with a PAT of Rs 7 crore. The EBITDA margin improved significantly to 12.9% in FY25 from 8.57% in FY24, and the PAT margin rose to 3.14% from 2.83%, reflecting better operational efficiency and profitability.

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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