Shree Ram Twistex IPO Opens with ₹95-104 Price Band and 5% GMP Hints

Shree Ram Twistex Limited’s initial public offering (IPO) opened for public subscription on 23 February 2026, marking a significant launch in the textile manufacturing sector. The ₹110.24 crore IPO will remain open for investors until 25 February 2026, with share allotment expected on 26 February 2026 and listing tentatively scheduled for 2 March 2026 on both the BSE and NSE. The issue consists entirely of a fresh issuance of 1.06 crore equity shares, with no offer-for-sale component.

The price band for Shree Ram Twistex shares has been fixed between ₹95 to ₹104 per share. Investors must bid for a minimum of 144 shares, which means a retail investor needs to invest around ₹14,976 at the upper price point to apply for one lot. Qualified institutional buyers (QIBs) have 75 % of the allocation, non-institutional investors (NIIs) are allotted 15 % and retail investors receive 10 % of the net offer.

One of the key indicators of market sentiment before listing is the grey market premium (GMP). Ahead of Day 1 bidding, the IPO’s GMP has been showing around ₹5, suggesting a potential listing price close to ₹109 per share — roughly a 4.8 % premium over the upper band price. This moderate GMP hints at decent investor interest in the stock prior to trading, although GMP figures reflect unofficial market activity and are not a guarantee of actual listing performance.

Shree Ram Twistex operates as a manufacturer of cotton yarns, with products including compact ring spun yarns and carded yarns that are used across knitting and weaving applications. These products find applications in denim, terry towels, sweaters, socks, shirting, sheeting, home textiles and more. The company also produces value-added variants like Eli Twist and lycra-blended yarns. It follows a business-to-business (B2B) model, supplying textile manufacturers, garment exporters, bulk buyers and fabric processors across multiple states including Gujarat, Rajasthan, Maharashtra, Tamil Nadu and West Bengal, as well as in export markets.

Financially, Shree Ram Twistex has shown growth in recent years. As per prospectus data, revenue from operations increased from ₹213 crore in FY23 to ₹255 crore in FY25, while net profit rose from ₹2.05 crore to ₹8 crore over the same period. EBITDA margins also improved, and the company’s ongoing focus on operational efficiencies has helped bolster profitability.

The company plans to utilise the proceeds from the IPO for several strategic purposes. A portion of the funds will be directed towards setting up renewable energy infrastructure, including a 6.1 MW solar power plant and a 4.2 MW wind power plant for captive use. These investments aim to reduce power costs, which are significant in energy-intensive spinning operations. A part of the proceeds will also be used to repay borrowings and support working capital requirements.

While the IPO has received interest from the grey market and institutional investors, prospective applicants should carefully consider both the growth prospects and industry risks. Factors such as customer concentration, raw material price volatility and geographic concentration in Gujarat could impact future performance. Nonetheless, the IPO presents an opportunity to participate in the growth of a niche textile manufacturer with an expanding product base and strategic investments in renewable energy for cost reduction.

Overall, Shree Ram Twistex’s IPO offers a blend of established business fundamentals with potential growth drivers, making it a noteworthy issue in the early 2026 IPO calendar. Investors should evaluate all financials and risks before applying based on their investment goals.