Shares of Shree Ram Twistex Ltd debuted at a significant discount amid market volatility, opening at Rs 70 on BSE and Rs 68 on NSE. Despite the weak start, the company's IPO was heavily subscribed with a 43.66 times subscription rate. Market tensions in the Middle East exacerbated the decline.

Shree Ram Twistex Ltd's IPO Flounders Amid Market Downturn

Shree Ram Twistex Ltd Faces Market Turmoil in its Debut

Shree Ram Twistex Ltd, a producer of high-quality yarn, witnessed a tumultuous start to its listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) as its shares plummeted 35% from its issue price of Rs 104.

The company opened at Rs 70 on the BSE and Rs 68 on the NSE.
The decline in Shree Ram Twistex Ltd's shares comes amid heightened tensions in the Middle East, causing widespread market unrest.

The BSE Sensex dropped 1,143.14 points to 80,144.05, while the NSE Nifty fell 350.40 points to 24,831.05, as markets wobbled.

Shree Ram Twistex Ltd's market capitalization stood at Rs 275.83 crore on its debut, despite a robust 43.66 times subscription on its final day.

The company's initial public offering (IPO) faced market headwinds, but still managed a strong subscription rate.
The IPO consisted entirely of fresh equity issues, amounting to 1,06,00,000 shares, within the Rs 95-104 price band.

Shree Ram Twistex Ltd navigates through market challenges post-listing, as it aims to establish itself as a prominent player in the yarn production industry.

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