Shree Ram Twistex IPO Listing: Cotton Yarns-Maker Fails To Weave Gains, Shares Debut At 36% Discount

Shree Ram Twistex IPO Listing: Cotton yarn manufacturer Shree Ram Twistex made a weak debut on the bourses on March 2, 2026, with its shares opening at a 36 per cent discount to the issue price. The stock, priced at Rs 104 per share during the IPO, opened at Rs 67 on the BSE, down Rs 37, or 35.58 per cent, from its issue price. On the NSE, it listed at Rs 66, a decline of 36.54 per cent from the IPO price.

Ahead of its market debut, Shree Ram Twistex’s IPO was already signaling a weak listing, quoting a negative grey market premium (GMP) of Rs 28.

Contrary to its weak listing performance, the Shree Ram Twistex IPO had seen strong investor participation during its three-day subscription window from February 23 to February 25. By the close of bidding on the final day, the issue was subscribed 43.62 times overall.

The bulk of the enthusiasm came from non-institutional investors (NIIs), who subscribed to their allotted portion 220.26 times. Retail investors also showed immense interest, subscribing 76.24 times their reserved quota. On the other hand, qualified institutional buyers (QIBs) subscribed only 3.94 times their reserved portion.

Shree Ram Twistex manufactures cotton yarn that is widely used in knitting and weaving applications. Its yarn goes into making a range of products, including denim, terry towels, shirting and sheeting fabrics, sweaters, socks, bottom wear, home textiles, and even certain industrial fabrics.

The company follows a business-to-business (B2B) model, supplying its products across Gujarat, Rajasthan, West Bengal, Maharashtra, Tamil Nadu, Madhya Pradesh and Punjab, along with the Union Territory of Dadra and Nagar Haveli. The company also exports its products to key global markets. Its manufacturing facility is located in Gondal, in Rajkot district of Gujarat.

Shree Ram Twistex IPO Details

Shree Ram Twistex raised Rs 110.24 crore through its book-built IPO, which comprised entirely a fresh issue of 10.60 million equity shares.

The price band for the issue was fixed at Rs 95-104 per share. Investors were required to bid for a minimum of 144 shares, and in multiples thereof. At the upper end of the price band, retail investors invested a minimum of Rs 14,976 for one lot.

Interactive Financial Services was the book running lead manager to the issue, while Bigshare Services acted as the registrar.

Shree Ram Twistex IPO Objectives

Shree Ram Twistex will use the net proceeds to set up a 6.1 MW solar power plant and a 4.2 MW wind power plant for captive use and it has allocated Rs 39 crore for the same, according to its red herring prospectus (RHP).

It will use Rs 14.89 crore to clear its debt and use another Rs 44 crore for working capital requirements. The remaining amount will be used for general corporate purposes.

How Much Investors Lost

The listing discount resulted in immediate losses for investors who were allotted shares in the IPO. The issue price was Rs 104 per share. However, the stock opened at Rs 67 on the BSE and Rs 66 on the NSE, implying a loss of Rs 37–38 per share on debut.

Retail investors had to apply for a minimum of 144 shares. At the upper price band of Rs 104, one lot required an investment of Rs 14,976. Based on the BSE listing price of Rs 67, the value of one lot fell to Rs 9,648, leading to a loss of Rs 5,328. At the NSE listing price of Rs 66, the value stood at Rs 9,504, resulting in a loss of Rs 5,472 per lot.