Updated on 19.02.2026|15:20 PM
Shree Ram Twistex Limited has announced its Initial Public Offering (IPO) on the main board of BSE and NSE. It is a Rajkot-based manufacturer of cotton yarn.
The subscription will open on February 23, 2026, and close on February 25, 2026. You can track details of all the upcoming and live IPOs of 2026 at our hub page which is updated regularly.
The 100% fresh issue of 1.06 crore equity shares aims to raise approximately ₹110.24 Crore (at the upper band)for setting up captive power generation plants, debt repayment, and working capital requirements.
The company operates exclusively in the B2B segment, supplying compact ring-spun yarns to textile manufacturers and garment exporters from its integrated facility in Gujarat.
In this article, you will find Shree Ram Twistex IPO GMP today, price band, and a detailed review. For subscription details, check our details IPO subscription section and for the allotment status check our IPO allotment hub page which is updated regularly.
Briefs of Shree Ram Twistex IPO Details:
- Price Band: ₹95 – ₹104 per equity share
- IPO Open / Close Dates: February 23, 2026 – February 25, 2026
- Lot Size: 144 Shares (Minimum Retail Investment: ₹14,976)
- Issue Size: 1,06,00,000 Equity Shares / ~₹110.24 Crores
- Fresh Issue / OFS: 100% Fresh Issue
- Registrar: Bigshare Services Private Limited
- Listing Exchange: BSE, NSE
Investors who have queries regarding credit of share, refunds and other allotment related issues, they can find our indepth guide on Bigshare IPO allotment status check quite useful.
What Is The Shree Ram Twistex IPO GMP Today?
You can check the GMP of this and other issues at our GMP today section.
(GMP) varies daily based on market demand and is an unofficial indicator and is not regulated by SEBI, NSE, or BSE.
What Are The Important Shree Ram Twistex IPO Dates & Allotment Schedule?
For investors planning their capital allocation, here is the critical timeline for the issue:
- IPO Open Date: Monday, February 23, 2026
- IPO Close Date: Wednesday, February 25, 2026
- Basis of Allotment Date: Thursday, February 26, 2026
- Refund Initiation Date: Friday, February 27, 2026
- Credit of Shares: Friday, February 27, 2026
- Listing Date: Monday, March 2, 2026
What Are The Objectives of Shree Ram Twistex IPO?
The company proposes to utilize the Net Proceeds from the Fresh Issue towards the following strategic purposes:
- Renewable Energy Projects: A significant portion of the funds is earmarked for establishing a 4.2 MW Wind Power Plant and funding a 6.1 MW Solar Plant (partially commissioned). This captive power generation is expected to drastically reduce power and fuel costs, which currently account for 6-7% of total expenses.
- Working Capital: To meet incremental working capital requirements necessary for holding inventory and managing the procurement cycle of raw cotton.
- Debt Repayment: Approximately ₹14.89 Crores will be used to prepay or repay term loans taken from SIDBI for the solar power project.
- General Corporate Purposes: To fund ongoing operational needs and strategic initiatives.
How is The Financial Performance of Shree Ram Twistex?
The following table summarizes the financial performance of the company based on restated financial statements.
(Figures in ₹ Crores)
| Particulars | Period Ended 30 Sep 25 | Period Ended 31 Mar 25 | Period Ended 31 Mar 24 | Period Ended 31 Mar 23 |
Total Income | 132.27 | 256.32 | 231.72 | 213.58 |
Profit After Tax (PAT) | 7.00 | 8.00 | 6.55 | 2.05 |
EBITDA | 17.04 | 21.85 | 20.19 | 17.40 |
Total Borrowing | 60.70 | 62.48 | 67.04 | 55.70 |
Assets | 217.44 | 194.20 | 154.30 | 135.71 |
Source: RHP
Financial Analysis & Observations:
Total Income:
The company has maintained a steady growth trajectory, with Total Income reaching ₹256.32 Crores in FY25, up from ₹213.58 Crores in FY23. The half-yearly income of ₹132.27 Crores for the period ended September 2025 indicates that the company is on track to surpass its previous year's performance, driven by higher sales volumes of Carded and Eli Twist yarns.
Profit After Tax (PAT):
Profitability has seen a robust expansion, growing at a CAGR of over 97% between FY23 and FY25. The PAT rose from ₹2.05 Crores in FY23 to ₹8.00 Crores in FY25, and further to ₹7.00 Crores in just the first six months of FY26, signalling improved operational leverage.
EBITDA:
Operational efficiency has improved, with EBITDA margins expanding to 12.90% in the first half of FY26 compared to 8.57% in FY25. The absolute EBITDA of ₹17.04 Crores in the stub period nearly matches the full-year EBITDA of FY23, highlighting the benefits of scale.
Total Borrowing:
The company carries a significant debt load of ₹60.70 Crores as of September 2025, necessitated by working capital needs for cotton procurement and capex. However, the plan to use IPO proceeds for debt reduction and capex (solar/wind) is expected to improve the debt servicing capability and reduce interest burdens.
Assets:
The asset base has expanded significantly to ₹217.44 Crores by September 2025. This increase is largely driven by capital expenditure on plant and machinery, including the new renewable energy assets, and higher inventory holdings to buffer against raw material seasonality.
What Are The P/E Ratio and Peer Comparison?
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹2.72, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 38.2x at the upper end of the price band (₹104).
P/E Ratio = ₹104(Price) / ₹2.72(Earnings Per Share)
P/E Ratio ≈ 38.2x
Peer Comparison Table (FY 2025 Data):
| Company | P/E Ratio | RoNW (%) | EPS (₹) |
Shree Ram Twistex | 38.2 | 10.80 | 2.72 |
| Ambika Cotton Mills | 11.37 | 7.46 | 114.83 |
| Damodar Industries | 14.09 | (0.05) | 2.32 |
| Rajapalayam Mills | Negative | (12.00) | Negative |
Analysis:
Shree Ram Twistex is entering the market at a P/E multiple of approximately 38.2x based on FY25 earnings. When compared to listed peers like Ambika Cotton Mills (11.37x) and Damodar Industries (14.09x), the issue appears to be priced at a premium. However, it is worth noting that Shree Ram Twistex has a Return on Net Worth (RoNW) of 10.80%, outperforming peers like Damodar and Rajapalayam who are struggling with negative or negligible returns. Investors must decide if the premium is justified by the company's growth trajectory and renewable energy integration plans.
What is The Industry Outlook of Shree Ram Twistex Limited?
Growth Potential:
The Indian textile industry is projected to reach $350 billion by 2030. The yarn segment is a critical feeder, supported by abundant raw material (cotton) availability and increasing demand from the garment export sector.
Market Trends:
There is a growing shift towards sustainable manufacturing. Shree Ram Twistex's investment in captive wind and solar power aligns well with global ESG trends and helps insulate margins from fluctuating power costs.
What Are The Strengths and Risks of Shree Ram Twistex IPO?
Strengths:
- Integrated Manufacturing: The Rajkot facility with 27,744 spindles allows for stringent quality control and value addition through Eli Twist yarns.
- Cost Efficiency: The strategic shift to captive renewable energy (Solar and Wind) aims to reduce power costs, directly boosting the bottom line significantly.
- Profit Growth: The company has delivered impressive profit growth (CAGR ~97%) over the last three years, outpacing revenue growth.
Risks:
- Customer & Geographic Concentration: A major risk is the high dependence on Gujarat (88% revenue) and top 10 customers (80% revenue). Any regional disruption could severely impact business.
- Raw Material Volatility: Cotton prices are subject to seasonal and climatic risks. Since raw material costs are over 65% of revenue, margin stability is sensitive to cotton price fluctuations.
- High Valuation: The P/E multiple is higher than established peers, leaving little room for error in future earnings growth.
Key Considerations for Investors
This analysis is neutral and for informational purposes only.
- Valuation: At ~38x P/E, the IPO is priced aggressively compared to industry averages.
- Sustainability: The renewable energy projects provide a clear roadmap for margin expansion, which is a positive differentiator.
- Risk Profile: The company's heavy reliance on a few clients and a single state makes it a higher-risk bet compared to more diversified textile players.
Key Takeaways
- IPO Price: ₹104 per share (Upper Band).
- Min Investment: ₹14,976 (144 Shares).
- Allotment: February 26, 2026
- Listing: BSE & NSE on March 2, 2026.
FAQs on Shree Ram Twistex IPO
What is Shree Ram Twistex IPO GMP today?
The GMP is a dynamic market sentiment indicator. Please check our dedicated GMP section for the latest updates.
What is Shree Ram Twistex IPO price band?
The price band is fixed at ₹95 to ₹104 per equity share.
What is Shree Ram Twistex IPO allotment date?
The allotment status is expected to be finalized on Thursday, February 26, 2026.
How to check Shree Ram Twistex IPO allotment status?
Investors can check the status on the website of Bigshare Services Private Limited or via the BSE/NSE IPO allotment portals.
What is Shree Ram Twistex IPO listing date?
The shares are tentatively scheduled to list on Monday, March 2, 2026.
Investment Perspective on Shree Ram Twistex IPO
Shree Ram Twistex presents a growth story in the textile yarn segment with a clear strategy to improve margins via renewable energy.
While the financial performance is strong, the premium valuation and concentration risks suggest that this IPO is best suited for investors with a higher risk appetite and a long-term view on the Indian textile sector.
Disclaimer:
This article is strictly for educational purposes. Please consult a SEBI-registered investment advisor before making any investment decisions.
