Shree Ram Twistex IPO to list today. GMP signals cautious debut despite strong subscription
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Shares of Shree Ram Twistex are set to debut on the exchanges on Monday after the Rs 110 crore IPO was subscribed nearly 44 times overall. Despite the strong subscription numbers, the GMP is currently flat at 0%, indicating expectations of a listing around the issue price of Rs 104 per share. The IPO, which closed on February 25, saw strong demand from high net-worth investors and retail participants. The NII category was subscribed 220.30 times, while the retail portion was subscribed 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 fo...