Shree Ram Twistex initial public offer (IPO) got subscribed 75 percent on the second day of share sale on Tuesday. The company's IPO got bids for 79.76-lakh shares against 1.06-crore shares on offer, according to the NSE data.
The quota for retail individual investors was subscribed 3.46 times, while the portion for non-institutional investors received 2.7 times subscription.
The company's Rs 110 crore initial public offering (IPO) will conclude on February 25. The company has fixed a price band of Rs 95-104 per share.
According to platforms tracking the grey market activities, the shares of Shree Ram Twistex are commanding a GMP of up to 9 percent in the unofficial market. Investorgain quoted a GMP of Rs 9 per share, indicating a listing gain of 8.65 percent. IPO Watch quoted a GMP of 7.21 percent.
The IPO will conclude on February 25. The Gujarat-based company will finalise IPO share allotment by February 26 and list its equity shares on the bourses on March 2.
This would be among three mainboard IPOs opening next week. Clean Max Enviro Energy Solutions' Rs 3,100-crore public issue opened on the same day, while PNGS Reva Diamond Jewellery launched its Rs 380-crore offer on February 24.
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