Shree Ram Twistex IPO Day 1: 0.11x Subscribed & GMP ₹6.5
Shree Ram Twistex today began its Initial Public Offering (IPO). Entering the primary market to finance the shift to renewable energy sources and the expansion of its operations, the Gujarat-based yarn manufacturer has attracted early interest, mainly from retail investors.
The IPO is a book-build issue of a total size of Rs 110.24 crores, comprising wholly of a fresh issue of 1.06 crore shares. There is no Offer for Sale (OFS) component. The proceeds of the fresh issue are proposed to be used for strategic growth, such as setting up of 6.1 MW solar power plant and 4.2 MW wind power plant for captive use, repayment of outstanding borrowings and funding working capital requirements.
On Day 1, the total IPO subscription stood at 0.11 times, and the grey market premium (GMP) held firm at Rs 6.5. Here, we will discuss what happened on Day 1 of the Shree Ram Twistex IPO in detail.
Key dates for the Shree Ram Twistex
The Shree Ram Twistex IPO is open for subscription from February 23, 2026 (today) to February 25, 2026. The IPO allotment will be completed on February 26, 2026. The refunds and shares will be credited to the demat account on February 27, 2026. The shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on March 2, 2026.
The IPO is priced between Rs 95 and Rs 104 per share, with a minimum application lot size of 144 shares, with an investment of Rs 14,976 at the upper end of the price band for retail investors. Interactive Financial Services Ltd is the book-running lead manager for this IPO offering, and Bigshare Services Pvt. Ltd is the registrar of the issue.
About Shree Ram Twistex
Shree Ram Twistex was founded in 2013 and is headquartered in Gujarat. Shree Ram Twistex has emerged as a significant player in the Indian textile manufacturing space. The company operates solely on a B2B model and helps textile manufacturers, garment exporters, and fabric processors by supplying quality yarn for denim, terry towels, shirting and home textiles.
Shree Ram Twistex is a specialist in 100% cotton compact ring spun, combed and carded yarns and value-added products such as Eli Twist, compact slub yarns, and Lycra blended yarns. Their manufacturing unit at Gondal, Rajkot, has 17 compact ring-spinning machines with an installed capacity of 27,744 spindles.
Financially, Shree Ram Twistex has shown consistent growth with revenue reaching Rs 256.32 crore and a Profit After Tax (PAT) of Rs 8.00 crore in FY25. For the first half of FY26 ending September 2025, the company posted a strong PAT of Rs 7.00 crore. By investing heavily in captive wind and solar power plants, the company is strategically positioned to lower power costs (a major expense in the spinning industry) and improve future EBITDA margins.
Subscription, GMP, and investor sentiment on day 1
On the 1st day of the bid, the Shree Ram Twistex IPO witnessed a measured and steady bid as investors assessed its valuations against industry peers. At the end of day 1, the issue received 0.11 times the total subscription.
- Retail Individual Investors (RIIs) topped the subscription with 0.96 times, indicating a healthy early interest from small investors.
- Non-Institutional Investors (NIIs) bidding was 0.11 times.
- While the Qualified Institutional Buyers (QIBs) were quiet on Day 1, with a 0.00 times subscription.
The Grey Market Premium (GMP) of Shree Ram Twistex was Rs 6.5 at the upper price band of Rs 104. This implies a tentative listing price of Rs 110.5 with a potential listing gain of 6.25%.
Investor sentiment is cautiously optimistic about the Shree Ram Twistex IPO. The company's transition to green energy for reducing operational costs, its fully-integrated spinning facility and its established relationships with clients are its major strengths, which are attracting the interest of investors.
However, its geographic concentration (with over 90% of revenue heavily reliant on Gujarat clients) and the inherent volatility in the raw cotton price are driving caution amongst investors. Investors are likely to watch closely for this subscription, which closes on 25th February 2026.
