Shree Ram Twistex shares list at 35% discount to IPO price on bourses

Shares of Shree Ram Twistex made a tepid debut on D-Street on Monday, listing at a steep 32–35% discount to their IPO price. The stock opened at Rs 70 on the BSE, 32.6% below the issue price of Rs 104, and at Rs 68 on the NSE, a 34.6% discount.

The Rs 110 crore IPO was subscribed nearly 44 times overall, with GMP trends signalling a flat debut. However, the actual listing fell well short of expectations.

The IPO, which closed on February 25, saw strong demand from high-net-worth investors and retail participants. The NII category was subscribed to 220.30 times, while the retail portion was subscribed to 76.63 times. The QIB segment saw comparatively moderate participation at 3.94 times subscription.


The issue was priced at the upper end of the Rs 95-104 price band. At the issue price, the company commands a pre-listing market capitalisation of Rs 416 crore. The IPO comprised a fresh issue of 1.06 crore shares aggregating to Rs 110 crore.

The company plans to use the net proceeds towards setting up a 6.1 MW solar power plant and a 4.2 MW wind power plant for captive use, repayment of borrowings amounting to Rs 14.89 crore, and funding working capital requirements of Rs 44 crore.

Shree Ram Twistex manufactures cotton yarns, including compact ring spun and carded yarns, used in denim, home textiles, garments and industrial fabrics. It operates a manufacturing facility in Gondal, Gujarat, with 17 compact ring-spinning machines and a spindle capacity of 27,744. The company follows a B2B model and supplies to textile manufacturers and exporters across multiple states.

Financially, the company reported total income of Rs 256.32 crore in FY25, up from Rs 231.72 crore in FY24. Profit after tax stood at Rs 8 crore in FY25, compared to Rs 6.55 crore in the previous year.

While the IPO witnessed strong demand, especially from NIIs and retail investors, the flat GMP suggests limited expectations of listing gains.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)