Shree Ram Twistex IPO - Company Analysis
Shree Ram Twistex IPO is a Mainboard IPO structured as a bookbuilding issue of ₹110.24 crore. The company is engaged in the manufacturing of cotton yarns, including carded and combed yarns, as well as compact ring-spun yarns.
These yarns are widely used in both knitting and weaving applications for products such as denim, terry towels, shirts, sheeting, sweaters, socks, bottom wear, home textiles, and industrial fabrics.
In addition to standard yarn products, the company also manufactures value-added yarns such as Compact Slub Yarns, Lycra-Blended Yarns, and Eli Twist (Combed and Carded).
Shree Ram Twistex operates on a business-to-business (B2B) model, supplying its products to fabric processors, bulk buyers, textile manufacturers, and garment exporters.
Shree Ram Twistex IPO Details
The IPO is scheduled to open from February 23 to February 25, 2026. The IPO allotment is expected on February 26, 2026, with refund initiation on February 27, 2026.
The ₹110.24 crore mainboard IPO consists entirely of a fresh issue of 1.06 crore shares.
The IPO is tentatively expected to list on Monday, March 02, 2026, on both the BSE and NSE. The price band for the issue has been fixed at ₹95 to ₹104 per share.
| Events | Date |
| IPO Opening Date | February 23, 2026 |
| IPO Closing Date | February 25, 2026 |
| IPO Allotment Date | February 26, 2026 (Tentative) |
| Refund Initiation | February 27, 2026 (Tentative) |
| Tentative IPO Listing Date | March 02, 2026 |
Industry Outlook
Company Financial
(Amount in Cr)
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 194.20 | 154.30 | 135.71 |
| Total Income | 256.32 | 231.72 | 213.58 |
| Profit After Tax | 8.00 | 6.55 | 2.05 |
| EBITDA | 21.85 | 20.19 | 17.40 |
| Net Worth | 74.03 | 66.80 | 61.11 |
| Reserves and Surplus | 44.66 | 37.42 | 49.36 |
| Total Borrowing | 62.48 | 67.04 | 55.70 |
Cash Flows
The cash flows from various activities are presented below:
(Amount in Mn)
| Net Cash Flow In Multiple Activities | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Net Cash Flow Operating Activities | 2,175.51 | (491.15) | 1,006.93 |
| Net Cash Flow Investing Activities | (1,003.05) | (218.83) | (465.17) |
| Net Cash Flow Financing Activities | (1,139.27) | 679.86 | (520.65) |
Revenue Bifurcation
(Source: RHP)
Click to check the IPO application status.
Listed Peers of Shree Ram Twistex Ltd.
| Name of the Company | Face Value (₹ per share) | EPS (₹) | P/E (x) |
| Ambika Cotton Mills Limited | 10.00 | 114.83 | 11.37 |
| Damodar Industries Limited | 5.00 | 2.32 | 14.09 |
| Rajapalayam Mills Limited | 10.00 | (54.45) | (15.23) |
Valuation
| KPI | Values |
| ROCE | 13.37% |
| Debt/Equity | 0.84 |
| RoNW | 11.36% |
| PAT Margin | 3.14% |
| EBITDA Margin | 8.57% |
| Price to Book Value | 4.13 |
Evaluation of P/E Ratio
Considering the period ended on FY 2025 with an EPS of Rs. 2.72 from the last year, the resulting P/E ratio is 38.23x.
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IPO's Strengths
- Full integration of modern technologies within its spinning infrastructure.
- Long-standing relationships with key customers.
- Strategically located manufacturing facility with adequate storage capacity.
- Proven track record of steady growth.
- Experienced promoters and a skilled management team.
IPO Weaknesses
- Geographic concentration risk due to operations being focused in limited regions.
- Dependence on cotton bale suppliers, which may impact raw material availability and pricing.
- Product concentration risk arising from reliance on a limited range of yarn products.
Shree Ram Twistex IPO GMP
As of February 21, 2026, the Shree Ram Twistex IPO GMP (Grey Market Premium) stands at ₹5. With the upper price band fixed at ₹104, the estimated listing price is projected to be around ₹104 per share, indicating a potential gain or loss of approximately 0% at listing.
Shree Ram Twistex Limited IPO Summary
| IPO Opening & Closing Date | Feb 23, 2026 to Feb 25, 2026 |
| Face Value | Rs. 10 per Share |
| Issue Price | Rs. 95 to Rs. 104 |
| Lot Size | 144 Shares |
| Issue Size | 1,06,00,000 Shares (Rs. 110 Cr) |
| Listing At | BSE, NSE |
| Issue Type | Book Built Issue IPO |
| Registrar | Bigshare Services Pvt. Ltd. |
Shree Ram Twistex IPO Lot Size
The Shree Ram Twistex Ltd. IPO offers the following investment structure:
- Retail Investors:
- Minimum Investment: 1 Lot (144 Shares) – ₹14,976
- Maximum Investment: 13 Lots (1,872 Shares) – ₹1,94,688
- S-HNI Investors:
- Minimum Investment: 14 Lots (2,016 Shares) – ₹2,09,664
Investors can bid in multiples of the lot size as per the IPO guidelines.
| Minimum Lot Investment (Retail) | 1 Lot |
| Maximum Lot Investment (Retail) | 13 Lots |
| SHNI (Minimum) | 14 Lots |
| SHNI (Maximum) | 66 Lots |
| BHNI (Minimum) | 67 Lots |
Shree Ram Twistex IPO Reservation
| Institutional Share Portion | 75% |
| Retail Investors' Share Portion | 10% |
| Non-Institutional Shares Portion | 15% |
Shree Ram Twistex IPO Allotment Status
To check the Shree Ram Twistex IPO allotment status, investors can visit the official Registrar’s website or the BSE website. The relevant website links are provided below for easy access.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Shree Ram Twistex Ltd.
- Bhaveshbhai Bhikhumbhai Ramani
- Jay Atulbhai Tilala
- Nidhi Bhaveshbhai Kothari.
| Pre-Issue Promoter Shareholding | 47.07% |
| Post-Issue Promoter Shareholding | - |
Shree Ram Twistex IPO Lead Managers
- Interactive Financial Services Ltd.
Dividend Policy
The company currently does not have a formal dividend policy. Any future declaration of dividends will depend on factors such as profitability, cash flows, capital expenditure requirements, and overall business conditions.
Conclusion
Compared to the broader textile industry, the Shree Ram Twistex IPO appears slightly expensive at a P/E of around 38x. With a flat GMP and limited listing gain expectations, the potential for short-term gains seems modest. Although the company demonstrates steady growth, operates on a B2B business model, and has integrated spinning capabilities, investors should carefully evaluate the associated risks, including cotton price volatility and the cyclical nature of the textile industry, before making an investment decision.
Disclaimer: The information provided in this blog is for educational and informational purposes only and should not be considered as investment advice, research, or a recommendation to buy, sell, or hold any securities. Stock market investments are subject to market risks. Readers are advised to read all scheme-related documents carefully and consult their financial advisor before making any investment decisions.
To Read the Prospectus of the Company, Click Here to Download the DRHP.
