Overview
- Both mainboard IPOs closed on February 25, with allotment due February 26 and listings likely on March 2.
- Shree Ram Twistex was subscribed 6.24 times overall on day three, led by 16.50 times in the retail tranche and 30.26 times among NIIs, with QIBs at 0.07 times.
- Clean Max Enviro Energy showed muted traction by midday on day three at 0.53 times overall, including 1.42 times for QIBs, 0.48 times for NIIs and just 0.05 times from retail investors.
- Grey market indications diverged, with Clean Max quoted around Rs (-)3 and Shree Ram Twistex near Rs 16.5, signaling weaker near-term listing sentiment for the former and stronger for the latter; GMPs are unofficial and can change.
- Offer structures and size differed sharply: Clean Max’s Rs 3,100 crore mix included a Rs 1,900 crore OFS and raised Rs 921 crore from anchors such as Temasek and ADIA, whereas Shree Ram Twistex’s Rs 110.24 crore issue was entirely fresh capital.