Shri Ram Twistex shares listed on the NSE and BSE on Monday at a discount to the issue price, despite the initial public offering receiving 43.66 times subscription.
On the NSE, the stock opened at Rs 68, while on the BSE it debuted at Rs 70, compared with the IPO price of Rs 104 per share. This represents a discount of approximately 34.61 percent to the issue price.
The listing was disappointing for investors who had subscribed to the IPO in the primary market.
The IPO was open between February 23 and February 25 and received an overall subscription of 43.66 times. The issue saw participation from retail investors, non-institutional investors and qualified institutional buyers.
The non-institutional investor (NII) category was subscribed 220.3 times, while the retail portion was subscribed 76.63 times. The qualified institutional buyers (QIBs) category was subscribed 3.94 times.
According to NSE data, the company had offered 1.06 crore shares, against which bids were received for 46.28 crore shares.
Following listing, the company’s market capitalisation stood at Rs 279.03 crore on the NSE.
The IPO size was Rs 110 crore and the price band was fixed at Rs 95–104 per share. The final issue price was set at Rs 104 per share.
Despite the b subscription, the stock listed at a discount amid market volatility and pressure in early trade.
Shri Ram Twistex operates as a B2B textile company. The company focuses on captive green energy and operational efficiency initiatives aimed at improving margins.
It is known as a leading export textile service provider globally. The company’s strategy includes high-quality export products and sustainable energy solutions, along with efforts to enhance operational efficiency and reduce costs.
The company operates primarily in the B2B textile segment, with activities including fabric processing, dyeing and exports.
