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Shree Ram Twistex Ltd IPO

Status: Closed

Overview

IPO date
23 Feb 2026 to 25 Feb 2026
Face value
₹ 10 per share
Price
₹ 95 to ₹104 per share
Issue Size
10,600,000 shares
(aggregating up to ₹ 110.24 Cr)
Allotment Date
26 Feb 2026
Listing at
NSE
Issue type
Book Building
Sector
Textiles

Objectives of Shree Ram Twistex Ltd IPO

Shree Ram Twistex Ltd IPO Strategy

About Shree Ram Twistex Ltd

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T&C*

Strengths vs Risks of Shree Ram Twistex Ltd

Know the pros & cons

Strengths

  • arrowFully integrated spinning infrastructure with modern technologies to support a diversified and value added product portfolio.
  • arrowLong standing relationships with key customers and are supported by a network of brokers and agents.
  • arrowStrategically located manufacturing facility with adequate storage facility and scope for future expansion.
  • arrowTrack Record of healthy growth.
  • arrowStrong Promoters and Experienced Management Team.
  • arrowThe Company operates through fully integrated spinning facility enabling all key stages of yarn production under one roof, from procurement of raw cotton to finished yarn packaging.
  • arrowThe Company has nearly a decade of experience in textile industry and have established long standing relationships with key customers.
  • arrowIts manufacturing facility is strategically located with adequate storage facility and scope for future expansion.
  • arrowThe Company has demonstrated consistent growth in terms of revenues and profitability.
  • arrowThe Company is driven by a qualified and dedicated management team,

Risks

  • arrowA major portion of its revenue from operations is dependent upon a limited number of customers and the loss of any of these customers or loss of revenue from any of these customers could have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
  • arrowThe company's Manufacturing Facility and Registered Office are located in Gujarat, and a significant portion of its revenue is also derived from this state. As a result, the company is exposed to geographic concentration risks that may adversely affect its operations, financial condition, and results of operations.
  • arrowThe company is dependents on a limited number of suppliers for procurement of cotton bales, the company's principal raw material, and any disruption in supply or adverse movement in cotton prices may materially affect its business, results of operations, and financial condition.
  • arrowThe company is subject to stringent quality requirements from its institutional buyers and end-use industries. Any failures to meet prescribed quality specifications may result in product rejections, loss of customer confidence, and reputational damage, which could adversely affect its business and results of operations.
  • arrowIf the company is unable to accurately forecast customer demand and maintain optimal inventory levels of cotton bales and finished yarn, the company's business, results of operations, and financial condition may be adversely affected.
  • arrowThe company relies significantly on brokers and agents for the sale of our yarn. Any disruption in our relationships with such intermediaries or failures to manage their performance may adversely affect its business, results of operations, and financial condition.
  • arrowA significant portion of its revenue is derived from Carded Cotton Yarn, Combed Cotton Yarn, and ELI Twist Yarn. Any decline in demand, pricing pressures, or adverse developments in the spinning or textile industry could materially and adversely impact the company's business, financial condition, and results of operations.
  • arrowDelays or defaults in payments by its customers could increase the company's working capital requirements, impact its cash flows, and adversely affect the company's financial performance and condition.
  • arrowThe company's ability to access capital at attractive costs depends on its credit ratings. Non-availability of credit ratings or a poor rating may restrict the company's access to capital and thereby adversely affect its business and results of operations.
  • arrowThe company operates in a competitive industry and face growing competition not only from domestic and international yarn manufacturers, but also from increasing preference for synthetic textiles over cotton yarns. The company's inability to adapt to these changing dynamics could adversely affect its business, profitability, and market position.
  • arrowAny change in government policies relating to the textile or cotton sector, including Minimum Support Prices (MSPs) or subsidies, may adversely affect its cost structure, supply chain, or customer demand, thereby impacting the company's business, results of operations and financial condition.
  • arrowThe company has significant working capital requirements and its inability to meet such working capital requirements may have an adverse effect on the company's results of operations.
  • arrowThe company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate its business, any failures to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect the company's operations.
  • arrowThe company has commenced initiatives to transition toward solar energy, including a proposed 6.1 MW captive solar power project to be partly funded from the Net Proceeds, delays or cost overruns in implementation, or failure to achieve projected benefits for the solar power plant may adversely affect its results of operations.
  • arrowThe company's proposed investment in a 4.2 MW captive wind power project is subject to various execution, regulatory, financial, operational, and technology-related risks that could adversely affect its business, financial condition, and results of operations.
  • arrowContinued operations at its Manufacturing Facility is critical to the company's business and any disruption in the company's Manufacturing Facility would have a material adverse effect on its business, results of operations and financial condition.
  • arrowThe Company intends to utilize a portion of the Net Proceeds of the Issue towards the working capital requirements of the Company which are based on certain assumptions and estimates and have not been appraised by any bank or financial institution.
  • arrowUnder-utilization of its manufacturing capacities and an inability to effectively utilize the company's manufacturing capacities could have an adverse effect on its business, future prospects and future financial performance.
  • arrowThere may have been certain instances of non-compliances with respect to certain corporate actions taken by the Company in the past. Consequently, the company may be subject to regulatory actions and penalties.
  • arrowThe company has contingent liabilities and its financial condition could be adversely affected if any of these contingent liabilities materializes.
  • arrowThe Company is party to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
  • arrowThe company relies on third-party transportation providers for inbound raw materials and outbound finished goods, and any disruption or inefficiency in such logistics arrangements may adversely affect its business, financial condition, results of operations, and cash flows.
  • arrowThe company has faced negative cash flows from operating activities. in the past and may experience in the near future.
  • arrowThe company is enters into certain related party transactions in the ordinary course of its business and the company cannot assure you that such transactions will not adversely affect its business, results of operations, profitability and margins, cash flows and financial condition.
  • arrowThe company's lenders have charge over its movable and immovable properties in respect of finance availed by the company.
  • arrowThe company is subject to restrictive covenants under its financing agreements that could limit the company's flexibility in managing its business or to use cash or other assets. Any defaults could lead to acceleration of the company's repayment obligations, cross defaults under other financing agreements, termination of one or more of its financing agreements or force us to sell the company's assets, which may adversely affect its cash flows, business, results of operations and financial condition.
  • arrowThe company's inability to effectively manage its growth or successfully implement the company's business strategies may adversely affect its business, financial condition, and results of operations.
  • arrowThe company's Promoters has provided personal property as collateral for borrowings availed by the Company.
  • arrowShortage or unavailability of electricity could affect the company's manufacturing operations and may have an adverse effect on its business, results of operations and financial condition.
  • arrowThere are certain instances of delays in payment of statutory dues. Any delay in payment of statutory dues or non-payment of statutory dues in dispute may attract financial penalties from the respective government authorities, which may have an adverse impact on its financial condition and cash flows.
  • arrowInformation relating to the historical installed capacities of its Manufacturing Facility included in this Draft Red Herring Prospectus may be based on certain assumptions and estimates by the independent chartered engineer verifying such information and future production and capacity utilization may vary.
  • arrowThe company exports the company's products through merchant exporters, and although the company is not directly exposed to foreign exchange fluctuations, the company may still be indirectly impacted by currency volatility, which could affect its export volumes and profitability.
  • arrowThe company may not be able to adequately protect its intellectual property, which may adversely affect the company.
  • arrowInaccurate demand forecasting or disruptions in the company's supply chain may lead to inventory imbalances or loss of business, which could adversely affect its operations and financial performance
  • arrowThe company's insurance policies may not be adequate to cover all losses incurred in the company's business. An inability to maintain adequate insurance cover to protect the company from material adverse incidents in connection with its business may adversely affect the company's operations and profitability.
  • arrowIf the company is unable to establish and maintain effective internal controls and compliance system, the company's business and reputation could be adversely affected.
  • arrowCertain sections of this Draft Red Herring Prospectus disclose information from the D&B Report which has been commissioned and paid for by the company exclusively in connection with the Issue and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
  • arrowNone of the Directors of the Company have experience of being a director of a public listed company.
  • arrowThe company may be unable to attract and retain employees with the requisite skills, expertise and experience, which would adversely affect its operations, business growth and financial results.
  • arrowAny variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
  • arrowThe company's funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency.
  • arrowActivities involving its manufacturing process can be dangerous and can cause injury to people or property in certain circumstances. A significant disruption at the company's Manufacturing Facility may adversely affect its production schedules, costs, revenue and ability to meet customer demand.
  • arrowThe company is dependent on its Promoters for functioning of the company's business and the company believes that its senior management team and other key managerial personnel in the company's business are critical to our continued success and the company may be unable to attract and retain such personnel in the future.
  • arrowChanges in technology may affect its business by making the company's Manufacturing Facility or equipment less competitive or obsolete.
  • arrowThe company's operations are significantly dependent on its ability to successfully identify market requirements and customer preferences and gain customer acceptance for the company's products.
  • arrowThe company's operations may be materially adversely affected by strikes, work stoppages or increased compensation demands by its employees.
  • arrowFailures or disruption of its information and technology ("IT") and/ or enterprise resources planning systems may adversely affect the company's business, financial condition, results of operations and future prospects.
  • arrowThe company's Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • arrowThe company's future funds requirements, in the form of issue of capital or securities and/or loans taken by the company, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.
  • arrowThe company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
  • arrowThe company's Promoters, some of its Directors and some of the company's KMPs and SMPs are interested in the Company, in addition to regular remuneration or benefits and reimbursement of expenses.
  • arrowThe company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • arrowAny future issuance of Equity Shares, or convertible securities or other equity linked securities by the Company may dilute your shareholding and any sale of Equity Shares by the company's Promoters or members of its Promoter Group may adversely affect the trading price of the Equity Shares.
  • arrowRights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
  • arrowQIB and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
  • arrowThe company has in this Draft Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to its operations and financial performance. These non-GAAP measures and industry measures may vary from any standard methodology that is applicable across the industry, and therefore may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
  • arrowSubsequent to the listing of the Equity Shares, the company may be subject to surveillance measures, such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors
  • arrowThe Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
  • arrowThe Issue price of its Equity Shares may not be indicative of the market price of our Equity Shares after the Issue and the market price of the company's Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • arrowA major portion of the company's revenue from operations is dependent upon a limited number of customers. For instance, the company's top 1 customer contributed 28.57%, 32.97%, 44.35% and 37.26% of its total revenue during the six-month period ended Septemeber 30, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023. Loss of any of the company's key customers or loss of revenue from any of such customers could have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
  • arrowThe company's Manufacturing Facility and Registered Office are located in Gujarat, and a significant portion of the company's revenue is also derived from this state. As a result, the company is exposed to geographic concentration risks that may adversely affect its operations, financial condition, and results of operations.
  • arrowThe company is dependents on a limited number of suppliers for procurement of cotton bales, our principal raw material, and any disruption in supply or adverse movement in cotton prices may materially affect its business, results of operations, and financial condition.
  • arrowA significant portion of the company's revenue is derived from Carded Cotton Yarn, Combed Cotton Yarn, and ELI Twist Yarn. Any decline in demand, pricing pressures, or adverse developments in the spinning or textile industry could materially and adversely impact its business, financial condition, and results of operations.
  • arrowThe company has not yet entered into a definitive agreement for the proposed 4.2 MW wind power project, and any delay or failures in execution may materially impact its ability to reduce electricity costs, achieve energy security, or realize the projected benefits of the project.
  • arrowThe company is subjects to stringent quality requirements from its institutional buyers and end-use industries. Any failures to meet prescribed quality specifications may result in product rejections, loss of customer confidence, and reputational damage, which could adversely affect the company's business and results of operations.
  • arrowIf the company is unable to accurately forecast customer demand and maintain optimal inventory levels of cotton bales and finished yarn, the company's business, results of operations, and financial condition may be adversely affected.
  • arrowThe company relies on brokers and agents for the sale of the company's yarn. Any disruption in the company's relationships with such intermediaries or failures to manage their performance may adversely affect its business, results of operations, and financial condition.
  • arrowThe company has faced negative cash flows from operating activities. in the past and may experience in the near future.
  • arrowThe company may not be able to adequately protect its intellectual property, which may adversely affect the comppany.
  • arrowDelays or defaults in payments by the company's customers could increase its working capital requirements, impact the company's cash flows, and adversely affect its financial performance and condition.
  • arrowThe company's ability to access capital at attractive costs depends on the company's credit ratings. Non-availability of credit ratings or a poor rating may restrict its access to capital and thereby adversely affect its business and results of operations.
  • arrowThe company operates in a competitive industry and face growing competition not only from domestic and international yarn manufacturers, but also from increasing preference for synthetic textiles over cotton yarns. The company's inability to adapt to these changing dynamics could adversely affect its business, profitability, and market position.
  • arrowThe company's business is significantly exposed to volatility in the cost of key inputs, particularly cotton bales and electricity, which together constitute a major portion of the company's operating expenses.
  • arrowThe company operates on a commission-based sales structure that relies on third-party brokers and agents, and any increase in commission costs or disruption in these relationships could adversely affect its profitability
  • arrowOne of the Objects of the Issue is to repay and/or prepay borrowings availed from SIDBI, and such prepayment may require the company to bear penalties out of internal accruals.
  • arrowAny change in government policies relating to the textile or cotton sector, including Minimum Support Prices (MSPs) or subsidies, may adversely affect its cost structure, supply chain, or customer demand, thereby impacting the company's business, results of operations and financial condition.
  • arrowThe company has significant working capital requirements and the company's inability to meet such working capital requirements may have an adverse effect on the company's results of operations.
  • arrowThe company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate its business, any failure to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect the company's operations.
  • arrowThe company's proposed investment in a 4.2 MW captive wind power project is subject to various execution, regulatory, financial, operational, and technology-related risks that could adversely affect its business, financial condition, and results of operations.
  • arrowContinued operations at the company's Manufacturing Facility is critical to its business and any disruption in the company's Manufacturing Facility would have a material adverse effect on the company's business, results of operations and financial condition.
  • arrowThe Company intends to utilize a portion of the Net Proceeds of the Issue towards the working capital requirements of the Company which are based on certain assumptions and estimates and have not been appraised by any bank or financial institution.
  • arrowUnder-utilization of the company's manufacturing capacities and an inability to effectively utilize its manufacturing capacities could have an adverse effect on the company's business, future prospects and future financial performance.
  • arrowThere may have been certain instances of non-compliances with respect to certain corporate actions taken by the Company in the past. Consequently, the company may be subject to regulatory actions and penalties.
  • arrowThe company has contingent liabilities and the company's financial condition could be adversely affected if any of these contingent liabilities materializes.
  • arrowThe company's business may be indirectly impacted by international trade policies, including tariffs imposed by the United States and other countries, even though the company does not directly export or import.
  • arrowThe Company is party to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
  • arrowThe company relies on third-party transportation providers for inbound raw materials and outbound finished goods, and any disruption or inefficiency in such logistics arrangements may adversely affect the company's business, financial condition, results of operations, and cash flows.
  • arrowThe company enters into certain related party transactions in the ordinary course of the company's business and the company cannot assure you that such transactions will not adversely affect its business, results of operations, profitability and margins, cash flows and financial condition.
  • arrowThe company's lenders have charge over its movable and immovable properties in respect of finance availed by the company.
  • arrowThe company is subjects to restrictive covenants under the company's financing agreements that could limit its flexibility in managing the company's business or to use cash or other assets. Any defaults could lead to acceleration of the company's repayment obligations, cross defaults under other financing agreements, termination of one or more of its financing agreements or force the company to sell its assets, which may adversely affect the company's cash flows, business, results of operations and financial condition.
  • arrowThe company's inability to effectively manage its growth or successfully implement the company's business strategies may adversely affect its business, financial condition, and results of operations.
  • arrowThe company's Promoters has provided personal property as collateral for borrowings availed by the Company.
  • arrowShortage or unavailability of electricity could affect its manufacturing operations and may have an adverse effect on the company's business, results of operations and financial condition.
  • arrowThere are certain instances of delays in payment of statutory dues. Any delay in payment of statutory dues or non-payment of statutory dues in dispute may attract financial penalties from the respective government authorities, which may have an adverse impact on the company's financial condition and cash flows.
  • arrowInformation relating to the historical installed capacities of the company's Manufacturing Facility included in this Red Herring Prospectus may be based on certain assumptions and estimates by the independent chartered engineer verifying such information and future production and capacity utilization may vary.
  • arrowThe company exports the company's products through merchant exporters, and although the company is not directly exposed to foreign exchange fluctuations, the company may still be indirectly impacted by currency volatility, which could affect its export volumes and profitability.
  • arrowThe company may not be able to adequately protect its intellectual property, which may adversely affect the company.
  • arrowInaccurate demand forecasting or disruptions in the company's supply chain may lead to inventory imbalances or loss of business, which could adversely affect its operations and financial performance.
  • arrowThe company's insurance policies may not be adequate to cover all losses incurred in the company's business. An inability to maintain adequate insurance cover to protect the company from material adverse incidents in connection with the company's business may adversely affect its operations and profitability.
  • arrowIf the company is unable to establish and maintain effective internal controls and compliance system, the company's business and reputation could be adversely affected.
  • arrowCertain sections of this Red Herring Prospectus disclose information from the D&B Report which has been commissioned and paid for by the company exclusively in connection with the Issue and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
  • arrowNone of the Directors of the Company have experience of being a director of a public listed company.
  • arrowThe company may be unable to attract and retain employees with the requisite skills, expertise and experience, which would adversely affect its operations, business growth and financial results.
  • arrowAny variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
  • arrowThe company's funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency.
  • arrowActivities involving the company's manufacturing process can be dangerous and can cause injury to people or property in certain circumstances. A significant disruption at the company's Manufacturing Facility may adversely affect its production schedules, costs, revenue and ability to meet customer demand.
  • arrowThe company is dependents on the company's Promoters for functioning of our business and the company believe that its senior management team and other key managerial personnel in the company's business are critical to the company's continued success and the company may be unable to attract and retain such personnel in the future.
  • arrowChanges in technology may affect the company's business by making its Manufacturing Facility or equipment less competitive or obsolete.
  • arrowThe company's operations are significantly dependent on the company's ability to successfully identify market requirements and customer preferences and gain customer acceptance for its products.
  • arrowThe company's operations may be materially adversely affected by strikes, work stoppages or increased compensation demands by the company's employees.
  • arrowFailures or disruption of the company's information and technology ("IT") and/ or enterprise resources planning systems may adversely affect its business, financial condition, results of operations and future prospects.
  • arrowThe company's Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • arrowThe company's future funds requirements, in the form of issue of capital or securities and/or loans taken by the company, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.
  • arrowThe company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
  • arrowThe company's Promoters, some of its Directors and some of its KMPs and SMPs are interested in the Company, in addition to regular remuneration or benefits and reimbursement of expenses.
  • arrowThe company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • arrowAny future issuance of Equity Shares, or convertible securities or other equity linked securities by the Company may dilute your shareholding and any sale of Equity Shares by its Promoters or members of the company's Promoter Group may adversely affect the trading price of the Equity Shares.
  • arrowRights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
  • arrowQIB and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
  • arrowThe company has in this Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to the company's operations and financial performance. These non-GAAP measures and industry measures may vary from any standard methodology that is applicable across the industry, and therefore may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
  • arrowSubsequent to the listing of the Equity Shares, the company may be subject to surveillance measures, such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors.
  • arrowThe Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
  • arrowThe company Issue price of its Equity Shares may not be indicative of the market price of the company's Equity Shares after the Issue and the market price of its Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • arrowFluctuation in the exchange rate between the Indian Rupee and foreign currencies may have an adverse effect on the value of its Equity Shares, independent of the company's operating results.

Shree Ram Twistex Ltd Peer Comparison

Understand the company’s industry standing

Shree Ram Twistex Limited
Ambika Cotton Mills Limited
Damodar Industries Limited
Face Value
10
10
5
Standalone / Consolidated
Standalone
Standalone
standalone
Total Income Rs. Cr.
231.5912
823.4599
715.3826
EPS-Basis
2.37
110
2.24
EPS-Diluted
---
---
---
NAV Per Share
21.77
1463.33
50.39
P/E-Basic EPS
---
13.70
15.74
P/E-Diluted EPS
---
---
---
RONW(%)
10.25
7.52
4.45
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 23 Feb 2026 & closes on 25 Feb 2026.

Shree Ram Twistex Limited was originally incorporated as a Private Company in the name of Shree Ram Twistex Private Limited' vide Certificate of Incorporation dated December 31, 2013, issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Upon the conversion of Company to a public Company, the name of the Company was changed to Shree Ram Twistex Limited ' and a fresh certificate of Incorporation dated September 18, 2024, was issued by the Central Processing Centre. The Company established its manufacturing facility in the first year following the incorporation, beginning with the acquisition of land in 2013. This facility was developed using a combination of promoter funding and bank financing. Construction, machinery installation, and development of supporting infrastructure were completed by 2016 and commercial production commenced in April 2016. Presently, Company is engaged in the manufacturing of Cotton Yarns, including Compact Ring Spun and Carded Yarns, both Combed and Carded. Yarns are used in both knitting and weaving, serving a broad range of end-use segments such as denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear, home textiles, and industrial fabrics. Company operate exclusively in the business-to-business (B2B) segment, supplying the products to institutional buyers such as textile manufacturers, garment exporters, bulk purchasers and fabric processors. The manufacturing unit in Gondal, Rajkot, Gujarat, houses 17 compact ring-spinning machines with a total spindle count of 27,744. Company is planning the IPO by issuing 1,06,00,000 equity shares of Face Value Rs 10 each via fresh issue.

Shree Ram Twistex Ltd IPO will close on 25 Feb 2026.

  • Fully integrated spinning infrastructure with modern technologies to support a diversified and value added product portfolio.
  • Long standing relationships with key customers and are supported by a network of brokers and agents.
  • Strategically located manufacturing facility with adequate storage facility and scope for future expansion.
  • Track Record of healthy growth.
  • Strong Promoters and Experienced Management Team.
  • The Company operates through fully integrated spinning facility enabling all key stages of yarn production under one roof, from procurement of raw cotton to finished yarn packaging.
  • The Company has nearly a decade of experience in textile industry and have established long standing relationships with key customers.
  • Its manufacturing facility is strategically located with adequate storage facility and scope for future expansion.
  • The Company has demonstrated consistent growth in terms of revenues and profitability.
  • The Company is driven by a qualified and dedicated management team,

S.No Promoters Name Pre Issue Shares Pre Issue Percentage Post Issue Shares Post Issue Percentage
1 Bhaveshbhai Ramani 6082675 20.71 6082675 15.22
2 Jaybhai Tilala 1196613 4.07 1196613 2.99
3 Nidhiben Kothari 3231250 11 3231250 8.08
4 Bhavnaben Tilala 631250 2.15 631250 1.58
5 Mohit Tilala 546612 1.86 546612 1.37
6 Atulbhai Tilala 713025 2.43 713025 1.78
7 Atulbhai Govindbhai Tilala (HU 731250 2.49 731250 1.83
8 Ramani Bhaveshbhai Bhikhubhai 693750 2.36 693750 1.74

  • A major portion of its revenue from operations is dependent upon a limited number of customers and the loss of any of these customers or loss of revenue from any of these customers could have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
  • The company's Manufacturing Facility and Registered Office are located in Gujarat, and a significant portion of its revenue is also derived from this state. As a result, the company is exposed to geographic concentration risks that may adversely affect its operations, financial condition, and results of operations.
  • The company is dependents on a limited number of suppliers for procurement of cotton bales, the company's principal raw material, and any disruption in supply or adverse movement in cotton prices may materially affect its business, results of operations, and financial condition.
  • The company is subject to stringent quality requirements from its institutional buyers and end-use industries. Any failures to meet prescribed quality specifications may result in product rejections, loss of customer confidence, and reputational damage, which could adversely affect its business and results of operations.
  • If the company is unable to accurately forecast customer demand and maintain optimal inventory levels of cotton bales and finished yarn, the company's business, results of operations, and financial condition may be adversely affected.
  • The company relies significantly on brokers and agents for the sale of our yarn. Any disruption in our relationships with such intermediaries or failures to manage their performance may adversely affect its business, results of operations, and financial condition.
  • A significant portion of its revenue is derived from Carded Cotton Yarn, Combed Cotton Yarn, and ELI Twist Yarn. Any decline in demand, pricing pressures, or adverse developments in the spinning or textile industry could materially and adversely impact the company's business, financial condition, and results of operations.
  • Delays or defaults in payments by its customers could increase the company's working capital requirements, impact its cash flows, and adversely affect the company's financial performance and condition.
  • The company's ability to access capital at attractive costs depends on its credit ratings. Non-availability of credit ratings or a poor rating may restrict the company's access to capital and thereby adversely affect its business and results of operations.
  • The company operates in a competitive industry and face growing competition not only from domestic and international yarn manufacturers, but also from increasing preference for synthetic textiles over cotton yarns. The company's inability to adapt to these changing dynamics could adversely affect its business, profitability, and market position.
  • Any change in government policies relating to the textile or cotton sector, including Minimum Support Prices (MSPs) or subsidies, may adversely affect its cost structure, supply chain, or customer demand, thereby impacting the company's business, results of operations and financial condition.
  • The company has significant working capital requirements and its inability to meet such working capital requirements may have an adverse effect on the company's results of operations.
  • The company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate its business, any failures to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect the company's operations.
  • The company has commenced initiatives to transition toward solar energy, including a proposed 6.1 MW captive solar power project to be partly funded from the Net Proceeds, delays or cost overruns in implementation, or failure to achieve projected benefits for the solar power plant may adversely affect its results of operations.
  • The company's proposed investment in a 4.2 MW captive wind power project is subject to various execution, regulatory, financial, operational, and technology-related risks that could adversely affect its business, financial condition, and results of operations.
  • Continued operations at its Manufacturing Facility is critical to the company's business and any disruption in the company's Manufacturing Facility would have a material adverse effect on its business, results of operations and financial condition.
  • The Company intends to utilize a portion of the Net Proceeds of the Issue towards the working capital requirements of the Company which are based on certain assumptions and estimates and have not been appraised by any bank or financial institution.
  • Under-utilization of its manufacturing capacities and an inability to effectively utilize the company's manufacturing capacities could have an adverse effect on its business, future prospects and future financial performance.
  • There may have been certain instances of non-compliances with respect to certain corporate actions taken by the Company in the past. Consequently, the company may be subject to regulatory actions and penalties.
  • The company has contingent liabilities and its financial condition could be adversely affected if any of these contingent liabilities materializes.
  • The Company is party to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
  • The company relies on third-party transportation providers for inbound raw materials and outbound finished goods, and any disruption or inefficiency in such logistics arrangements may adversely affect its business, financial condition, results of operations, and cash flows.
  • The company has faced negative cash flows from operating activities. in the past and may experience in the near future.
  • The company is enters into certain related party transactions in the ordinary course of its business and the company cannot assure you that such transactions will not adversely affect its business, results of operations, profitability and margins, cash flows and financial condition.
  • The company's lenders have charge over its movable and immovable properties in respect of finance availed by the company.
  • The company is subject to restrictive covenants under its financing agreements that could limit the company's flexibility in managing its business or to use cash or other assets. Any defaults could lead to acceleration of the company's repayment obligations, cross defaults under other financing agreements, termination of one or more of its financing agreements or force us to sell the company's assets, which may adversely affect its cash flows, business, results of operations and financial condition.
  • The company's inability to effectively manage its growth or successfully implement the company's business strategies may adversely affect its business, financial condition, and results of operations.
  • The company's Promoters has provided personal property as collateral for borrowings availed by the Company.
  • Shortage or unavailability of electricity could affect the company's manufacturing operations and may have an adverse effect on its business, results of operations and financial condition.
  • There are certain instances of delays in payment of statutory dues. Any delay in payment of statutory dues or non-payment of statutory dues in dispute may attract financial penalties from the respective government authorities, which may have an adverse impact on its financial condition and cash flows.
  • Information relating to the historical installed capacities of its Manufacturing Facility included in this Draft Red Herring Prospectus may be based on certain assumptions and estimates by the independent chartered engineer verifying such information and future production and capacity utilization may vary.
  • The company exports the company's products through merchant exporters, and although the company is not directly exposed to foreign exchange fluctuations, the company may still be indirectly impacted by currency volatility, which could affect its export volumes and profitability.
  • The company may not be able to adequately protect its intellectual property, which may adversely affect the company.
  • Inaccurate demand forecasting or disruptions in the company's supply chain may lead to inventory imbalances or loss of business, which could adversely affect its operations and financial performance
  • The company's insurance policies may not be adequate to cover all losses incurred in the company's business. An inability to maintain adequate insurance cover to protect the company from material adverse incidents in connection with its business may adversely affect the company's operations and profitability.
  • If the company is unable to establish and maintain effective internal controls and compliance system, the company's business and reputation could be adversely affected.
  • Certain sections of this Draft Red Herring Prospectus disclose information from the D&B Report which has been commissioned and paid for by the company exclusively in connection with the Issue and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
  • None of the Directors of the Company have experience of being a director of a public listed company.
  • The company may be unable to attract and retain employees with the requisite skills, expertise and experience, which would adversely affect its operations, business growth and financial results.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
  • The company's funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency.
  • Activities involving its manufacturing process can be dangerous and can cause injury to people or property in certain circumstances. A significant disruption at the company's Manufacturing Facility may adversely affect its production schedules, costs, revenue and ability to meet customer demand.
  • The company is dependent on its Promoters for functioning of the company's business and the company believes that its senior management team and other key managerial personnel in the company's business are critical to our continued success and the company may be unable to attract and retain such personnel in the future.
  • Changes in technology may affect its business by making the company's Manufacturing Facility or equipment less competitive or obsolete.
  • The company's operations are significantly dependent on its ability to successfully identify market requirements and customer preferences and gain customer acceptance for the company's products.
  • The company's operations may be materially adversely affected by strikes, work stoppages or increased compensation demands by its employees.
  • Failures or disruption of its information and technology ("IT") and/ or enterprise resources planning systems may adversely affect the company's business, financial condition, results of operations and future prospects.
  • The company's Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • The company's future funds requirements, in the form of issue of capital or securities and/or loans taken by the company, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.
  • The company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
  • The company's Promoters, some of its Directors and some of the company's KMPs and SMPs are interested in the Company, in addition to regular remuneration or benefits and reimbursement of expenses.
  • The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • Any future issuance of Equity Shares, or convertible securities or other equity linked securities by the Company may dilute your shareholding and any sale of Equity Shares by the company's Promoters or members of its Promoter Group may adversely affect the trading price of the Equity Shares.
  • Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
  • QIB and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
  • The company has in this Draft Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to its operations and financial performance. These non-GAAP measures and industry measures may vary from any standard methodology that is applicable across the industry, and therefore may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
  • Subsequent to the listing of the Equity Shares, the company may be subject to surveillance measures, such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors
  • The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
  • The Issue price of its Equity Shares may not be indicative of the market price of our Equity Shares after the Issue and the market price of the company's Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • A major portion of the company's revenue from operations is dependent upon a limited number of customers. For instance, the company's top 1 customer contributed 28.57%, 32.97%, 44.35% and 37.26% of its total revenue during the six-month period ended Septemeber 30, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023. Loss of any of the company's key customers or loss of revenue from any of such customers could have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
  • The company's Manufacturing Facility and Registered Office are located in Gujarat, and a significant portion of the company's revenue is also derived from this state. As a result, the company is exposed to geographic concentration risks that may adversely affect its operations, financial condition, and results of operations.
  • The company is dependents on a limited number of suppliers for procurement of cotton bales, our principal raw material, and any disruption in supply or adverse movement in cotton prices may materially affect its business, results of operations, and financial condition.
  • A significant portion of the company's revenue is derived from Carded Cotton Yarn, Combed Cotton Yarn, and ELI Twist Yarn. Any decline in demand, pricing pressures, or adverse developments in the spinning or textile industry could materially and adversely impact its business, financial condition, and results of operations.
  • The company has not yet entered into a definitive agreement for the proposed 4.2 MW wind power project, and any delay or failures in execution may materially impact its ability to reduce electricity costs, achieve energy security, or realize the projected benefits of the project.
  • The company is subjects to stringent quality requirements from its institutional buyers and end-use industries. Any failures to meet prescribed quality specifications may result in product rejections, loss of customer confidence, and reputational damage, which could adversely affect the company's business and results of operations.
  • If the company is unable to accurately forecast customer demand and maintain optimal inventory levels of cotton bales and finished yarn, the company's business, results of operations, and financial condition may be adversely affected.
  • The company relies on brokers and agents for the sale of the company's yarn. Any disruption in the company's relationships with such intermediaries or failures to manage their performance may adversely affect its business, results of operations, and financial condition.
  • The company has faced negative cash flows from operating activities. in the past and may experience in the near future.
  • The company may not be able to adequately protect its intellectual property, which may adversely affect the comppany.
  • Delays or defaults in payments by the company's customers could increase its working capital requirements, impact the company's cash flows, and adversely affect its financial performance and condition.
  • The company's ability to access capital at attractive costs depends on the company's credit ratings. Non-availability of credit ratings or a poor rating may restrict its access to capital and thereby adversely affect its business and results of operations.
  • The company operates in a competitive industry and face growing competition not only from domestic and international yarn manufacturers, but also from increasing preference for synthetic textiles over cotton yarns. The company's inability to adapt to these changing dynamics could adversely affect its business, profitability, and market position.
  • The company's business is significantly exposed to volatility in the cost of key inputs, particularly cotton bales and electricity, which together constitute a major portion of the company's operating expenses.
  • The company operates on a commission-based sales structure that relies on third-party brokers and agents, and any increase in commission costs or disruption in these relationships could adversely affect its profitability
  • One of the Objects of the Issue is to repay and/or prepay borrowings availed from SIDBI, and such prepayment may require the company to bear penalties out of internal accruals.
  • Any change in government policies relating to the textile or cotton sector, including Minimum Support Prices (MSPs) or subsidies, may adversely affect its cost structure, supply chain, or customer demand, thereby impacting the company's business, results of operations and financial condition.
  • The company has significant working capital requirements and the company's inability to meet such working capital requirements may have an adverse effect on the company's results of operations.
  • The company requires certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate its business, any failure to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect the company's operations.
  • The company's proposed investment in a 4.2 MW captive wind power project is subject to various execution, regulatory, financial, operational, and technology-related risks that could adversely affect its business, financial condition, and results of operations.
  • Continued operations at the company's Manufacturing Facility is critical to its business and any disruption in the company's Manufacturing Facility would have a material adverse effect on the company's business, results of operations and financial condition.
  • The Company intends to utilize a portion of the Net Proceeds of the Issue towards the working capital requirements of the Company which are based on certain assumptions and estimates and have not been appraised by any bank or financial institution.
  • Under-utilization of the company's manufacturing capacities and an inability to effectively utilize its manufacturing capacities could have an adverse effect on the company's business, future prospects and future financial performance.
  • There may have been certain instances of non-compliances with respect to certain corporate actions taken by the Company in the past. Consequently, the company may be subject to regulatory actions and penalties.
  • The company has contingent liabilities and the company's financial condition could be adversely affected if any of these contingent liabilities materializes.
  • The company's business may be indirectly impacted by international trade policies, including tariffs imposed by the United States and other countries, even though the company does not directly export or import.
  • The Company is party to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the company's business, results of operations and financial condition.
  • The company relies on third-party transportation providers for inbound raw materials and outbound finished goods, and any disruption or inefficiency in such logistics arrangements may adversely affect the company's business, financial condition, results of operations, and cash flows.
  • The company enters into certain related party transactions in the ordinary course of the company's business and the company cannot assure you that such transactions will not adversely affect its business, results of operations, profitability and margins, cash flows and financial condition.
  • The company's lenders have charge over its movable and immovable properties in respect of finance availed by the company.
  • The company is subjects to restrictive covenants under the company's financing agreements that could limit its flexibility in managing the company's business or to use cash or other assets. Any defaults could lead to acceleration of the company's repayment obligations, cross defaults under other financing agreements, termination of one or more of its financing agreements or force the company to sell its assets, which may adversely affect the company's cash flows, business, results of operations and financial condition.
  • The company's inability to effectively manage its growth or successfully implement the company's business strategies may adversely affect its business, financial condition, and results of operations.
  • The company's Promoters has provided personal property as collateral for borrowings availed by the Company.
  • Shortage or unavailability of electricity could affect its manufacturing operations and may have an adverse effect on the company's business, results of operations and financial condition.
  • There are certain instances of delays in payment of statutory dues. Any delay in payment of statutory dues or non-payment of statutory dues in dispute may attract financial penalties from the respective government authorities, which may have an adverse impact on the company's financial condition and cash flows.
  • Information relating to the historical installed capacities of the company's Manufacturing Facility included in this Red Herring Prospectus may be based on certain assumptions and estimates by the independent chartered engineer verifying such information and future production and capacity utilization may vary.
  • The company exports the company's products through merchant exporters, and although the company is not directly exposed to foreign exchange fluctuations, the company may still be indirectly impacted by currency volatility, which could affect its export volumes and profitability.
  • The company may not be able to adequately protect its intellectual property, which may adversely affect the company.
  • Inaccurate demand forecasting or disruptions in the company's supply chain may lead to inventory imbalances or loss of business, which could adversely affect its operations and financial performance.
  • The company's insurance policies may not be adequate to cover all losses incurred in the company's business. An inability to maintain adequate insurance cover to protect the company from material adverse incidents in connection with the company's business may adversely affect its operations and profitability.
  • If the company is unable to establish and maintain effective internal controls and compliance system, the company's business and reputation could be adversely affected.
  • Certain sections of this Red Herring Prospectus disclose information from the D&B Report which has been commissioned and paid for by the company exclusively in connection with the Issue and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.
  • None of the Directors of the Company have experience of being a director of a public listed company.
  • The company may be unable to attract and retain employees with the requisite skills, expertise and experience, which would adversely affect its operations, business growth and financial results.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
  • The company's funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency.
  • Activities involving the company's manufacturing process can be dangerous and can cause injury to people or property in certain circumstances. A significant disruption at the company's Manufacturing Facility may adversely affect its production schedules, costs, revenue and ability to meet customer demand.
  • The company is dependents on the company's Promoters for functioning of our business and the company believe that its senior management team and other key managerial personnel in the company's business are critical to the company's continued success and the company may be unable to attract and retain such personnel in the future.
  • Changes in technology may affect the company's business by making its Manufacturing Facility or equipment less competitive or obsolete.
  • The company's operations are significantly dependent on the company's ability to successfully identify market requirements and customer preferences and gain customer acceptance for its products.
  • The company's operations may be materially adversely affected by strikes, work stoppages or increased compensation demands by the company's employees.
  • Failures or disruption of the company's information and technology ("IT") and/ or enterprise resources planning systems may adversely affect its business, financial condition, results of operations and future prospects.
  • The company's Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • The company's future funds requirements, in the form of issue of capital or securities and/or loans taken by the company, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.
  • The company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
  • The company's Promoters, some of its Directors and some of its KMPs and SMPs are interested in the Company, in addition to regular remuneration or benefits and reimbursement of expenses.
  • The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • Any future issuance of Equity Shares, or convertible securities or other equity linked securities by the Company may dilute your shareholding and any sale of Equity Shares by its Promoters or members of the company's Promoter Group may adversely affect the trading price of the Equity Shares.
  • Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
  • QIB and Non-Institutional Investors are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
  • The company has in this Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to the company's operations and financial performance. These non-GAAP measures and industry measures may vary from any standard methodology that is applicable across the industry, and therefore may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
  • Subsequent to the listing of the Equity Shares, the company may be subject to surveillance measures, such as the Additional Surveillance Measures and the Graded Surveillance Measures by the Stock Exchanges in order to enhance the integrity of the market and safeguard the interest of investors.
  • The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
  • The company Issue price of its Equity Shares may not be indicative of the market price of the company's Equity Shares after the Issue and the market price of its Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • Fluctuation in the exchange rate between the Indian Rupee and foreign currencies may have an adverse effect on the value of its Equity Shares, independent of the company's operating results.

The Issue type of Shree Ram Twistex Ltd is Book Building.

The minimum application for shares of Shree Ram Twistex Ltd is 144.

The total shares issue of Shree Ram Twistex Ltd is 10600000.

Initial public offering of up to 1,06,00,000 equity shares of Rs.10/- each of Shree Ram Twistex Limited ("the Company" or the "Issuer") for cash at a price of 104 per equity share (including a securities premium of Rs. 94 per equity share) ("Issue Price") aggregating up to Rs. 110.24 crores ("the Issue"). The issue will constitute [*]% of the post-issue paid-up equity share capital. Price Band: Rs. 104 per equity share of face value Rs.10/- each. The floor price is 10.4 times of the face value of the equity shares. Bids can be made for a minimum of 144 equity shares and in multiples of 144 equity shares thereafter.