Shree Ram Twistex Files IPO Papers To Fund Green Projects

Gujarat-based cotton yarn manufacturer Shree Ram Twistex has filed draft papers with SEBI on June 27 for an initial public offering (IPO), aiming to raise funds for renewable energy projects and working capital needs. The IPO consists entirely of a fresh issue of 1.06 crore equity shares.
The Rajkot-based company plans to use Rs 7.8 crore from the proceeds to set up a 6.1 MW solar power plant and Rs 39 crore for a 4.2 MW wind power plant for captive use. It will also allocate Rs 14.89 crore for debt repayment and Rs 44 crore towards working capital.
Incorporated in 2013, Shree Ram Twistex manufactures 100% cotton compact ring-spun combed and carded yarns used in knitting and weaving. Its facility houses 17 compact ring-spinning machines with a spindle capacity of 27,744. The company operates in the B2B segment, supplying to institutional buyers including Welspun Living and Jindal Worldwide.
In FY24, it reported a net profit of Rs 6.6 crore, up 219.5%, and revenue of Rs 231.6 crore, up 8.7% year-on-year. For the nine months ended December 2024, profit stood at Rs 6.96 crore on revenue of Rs 152.6 crore.
Interactive Financial Services is the book-running lead manager to the issue.