Shree Ram Twistex IPO allotment: Step-by-step guide to check status, latest GMP & more

Shree Ram Twistex is scheduled to finalize the basis of allotment of its shares on Thursday, February 26. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate by Friday, February 27 or latest by the weekend. The cotton yarn maker saw a strong response from the investors.

The IPO of Shree Ram Twistex was open for bidding between February 23 and February 25. It had offered its shares in the price band of Rs 95-104 per share with a lot size of 144 shares. The company raised a total of Rs 110 crore from its IPO, which was entirely a fresh share sale of 1,06,00,000 equity shares.

The issue was subscribed 43.66 times, attracting bids worth over Rs 4,800 crore via over 5.63 lakh applications. The quota for non-institutional investors (NIIs) was subscribed a whopping 220.30 times, while the allocation for retail investors was subscribed 76.63 times. The portion for qualified institutional bidders (QIBs) was booked only 3.94 times.

Rajkot-based Shree Ram Twistex manufactures cotton yarns, including compact ring spun and carded yarns, both combed and carded. The yarns are used in knitting and weaving for various products, such as denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear, home textiles, and industrial fabrics. It also offers value-added yarns.

The grey market premium (GMP) of Shree Ram Twistex has seen sudden and sharp corrections, even strong bidding amid fragile market sentiments. Last heard, the company was commanding a discount of Rs 6 apeice, suggesting a muted listing for the investors. However, its GMP stood around Rs 14-17 on the last day of the bidding.

Interactive Financial Services is the sole book running lead manager of Shree Ram Twistex IPO and Bigshare Services is the registrar of the issue. Credit of shares and/or initiation of refund shall be done on Friday, February 27. Shares of the company shall be listed on both BSE and NSE with Monday, March 02 as the date of listing.

Investors, who had bid for the issue of Shree Ram Twistex IPO, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Shree Ram Twistex Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also

• Visit https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘SRTL’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of Bigshare Services Limited (https://ipo.bigshareonline.com/IPO_Status.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

• Go to the web portal of Bigshare Services Private Limited
• Select the IPO in dropbox whose name will be populated only if the allotment is finalized
• You shall be required to select either one of the three modes: Application number/CAF No, Beneficiary ID, or PAN ID.
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit Search to know your allotment status.