Shree Ram Twistex IPO Debut Dips Amid Market Turmoil
Shree Ram Twistex Ltd, a cotton yarn manufacturer, witnessed its stock debut at a significant discount on both BSE and NSE, amid market turmoil. The IPO was oversubscribed, despite the initial decline following a tumultuous market day. The company specializes in producing high-quality yarn.
- Country:
- India
The shares of cotton yarn manufacturer Shree Ram Twistex Ltd faced a dismal stock market debut, closing over 31 per cent lower than its issue price.
Trading opened at Rs 70 on BSE, down 32.69 per cent from its issue price of Rs 104, and concluded at Rs 73.45, a drop of 29.38 per cent.
The gloomy market day, exacerbated by Middle East tensions, also saw BSE Sensex and NSE Nifty plummet significantly, affecting the newly debuted stock.
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