Shri Techtex SME IPO opens: Subscription status, issue price, lot size, listing date, other key details

Shri Techtex IPO will be open for subscription for three trading days, from 10 am to 5 pm, till Friday, July 28.

The shares of Shri Techtex will be listed on the NSE SME exchange, image- PTI

Ahmedabad-headquartered technical textile manufacturer Shri Techtex's initial public offer (IPO), to raise up to Rs 45 crore, hit Dalal Street on July 26. The SME IPO will be open for subscription for three trading days, from 10 am to 5 pm, till Friday, July 28.

By 11:30 am on Wednesday, the first day of the bidding process, the IPO was subscribed 96 per cent.

Here are some of the key details about the Shri Techtex SME IPO:

Shri Techtex IPO: Price band

The company has fixed a price band of Rs 54-61 per share for the IPO. At the upper end of the price band, the issue, comprising fresh issuance of shares, is estimated to be worth Rs 45.1 crore.

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Shri Techtex IPO: Listing date

The shares will be listed on the NSE SME exchange. The listing is likely on August 7.

Shri Techtex IPO: Allotment date

The shares will likely be allotted to the eligible investors on August 2.

Subscribers will be able to check the allotment status on the website of registrar Intime India. Here's the direct link.

linkintime.co.in/mipo/ipoallotment.html.

Shri Techtex IPO: Fund utilisation

The firm plans to use the proceeds of the public issue towards the construction of a factory shed, the commissioning of a solar plant, working capital requirements, and general corporate purposes.

About Shri Techtex

Shri Techtex Ltd manufactures polypropylene (PP) non-woven fabric, which is used for ecological applications, especially in fields and industries where disposable or single-use products are necessary, such as organic farming, hospitals, health care, nursing homes, home furnishing and consumer goods.

Since FY2011, as a partnership firm, Shri Techtex has been engaged in the business of industrial trading activity in polymers, chemicals, packaging materials and other allied products.

(With inputs from PTI)

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Initial Public Offer (IPO)