The Shri Techtex IPO commenced on July 26, 2023, and concluded on July 28, 2023. The allotment of shares took place on August 02, 2023, and the initiation of refunds began on August 03, 2023. The shares were credited to the demat accounts of investors on August 04, 2023. Finally, the listing of Shri Techtex on the stock exchange occurred on August 07, 2023.
The Shri Techtex IPO was priced at ₹54 to ₹61 per share, with a lot size of 2000. The total issue size was ₹45.14 crores, comprising a fresh issue of ₹45.14 crores. The IPO was listed on the NSE SME.
In terms of quota reservations, the QIB (Qualified Institutional Buyers) quota was reserved for 50% of the shares, the NII (Non-Institutional Investors) quota was reserved for 15% of the shares, and the retail quota was reserved for 35% of the shares.
Shri Techtex IPO Basic Details
| Company Name | Shri Techtex Limited |
| Domain of Company | Polypropylene (PP) Non-Woven Fabric |
| Shri Techtex IPO GMP Today | ₹15 |
| Shri Techtex IPO Listing Gain | 24.59% |
| Shri Techtex IPO Open Date | July 26, 2023 |
| Shri Techtex IPO Close Date | July 28, 2023 |
| Shri Techtex IPO Allotment Date | August 02, 2023 |
| Shri Techtex IPO Listing Date | August 07, 2023 |
| Face Value | ₹10 per share |
| Price | ₹54 to ₹61 per share |
| Lot Size | 2000 Shares |
| Issue Size | 7,400,000 shares (aggregating up to ₹45.14 Cr) |
| Fresh Issue | 7,400,000 shares (aggregating up to ₹45.14 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Company Promoters | Mr. Hanskumar Ramakant Agarwal And Mrs. Shradha Hanskumar Agarwal |
Shri Techtex IPO GMP Today:
| Date | GMP | Listing Gain | Kostak | Subject to |
| 1 August 2023 | ₹35 | 57.38% | ||
| 31 July 2023 | ₹35 | 57.38% | – | – |
| 30 July 2023 | ₹35 | 57.38% | – | – |
| 29 July 2023 | ₹35 | 57.38% | – | – |
| 28 July 2023 | ₹40 | 65.57% | – | – |
| 27 July 2023 | ₹40 | 65.57% | – | – |
| 26 July 2023 | ₹30 | 49.18% | – | – |
| 25 July 2023 | ₹24 | 39.34% | – | – |
| 24 July 2023 | ₹24 | 39.34% | – | – |
| 23 July 2023 | ₹15 | 24.59% | – | – |
| 22 July 2023 | ₹15 | 24.59% | – | – |
Shri Techtex Limited IPO Details:
Founded in 2011, Shri Techtex Limited is a company that produces Polypropylene (PP) Non-Woven Fabric in various sizes and densities.
Their PP Non-Woven Fabric finds extensive use in eco-friendly applications, particularly in industries and fields that require disposable or single-use products. This includes areas like organic farming, healthcare, hospitals, nursing homes, home furnishing, vehicle upholstery seat fabrication, furniture covering, ecological packaging, and both industrial and consumer goods.
Previously, before becoming a company, Shri Techtex operated as a Partnership firm since FY 2011, involved in industrial trading activities related to Polymers, Chemicals, Packaging Materials, and allied products. Upon conversion to a company, they continued manufacturing on a job-work basis. However, due to a demerger in April 2021, the contract manufacturing aspect was transferred to the newly formed company, Aurum Fabritech Private Limited (which later became an LLP on February 2, 2022). Since then, Shri Techtex has solely focused on producing Polypropylene (PP) Non-Woven Fabric.
Their manufacturing site, located in Simaj of Dholka Taluka in Gujarat’s Ahmedabad District, spans an area of 41548 square meters, with a production capacity of 3600 metric tons of PP non-woven fabric per year.
Shri Techtex serves clients from Gujarat, Tamil Nadu, and West Bengal within India, as well as international customers from the USA, Taiwan, Canada, Denmark, and China.
Looking ahead, Shri Techtex plans to expand its offerings by introducing new products such as PP Tufted Fabric (commonly known as Artificial Grass) and PP Multifilament Yarns. To facilitate this expansion, the company will acquire specialized machinery dedicated to manufacturing these new products. They aim to start production by October 2023, with the new machinery capable of producing 1200 tons per annum of PP Multifilament and 30 Lakhs Sq Meters per annum of PP Tufted Fabric (Artificial Grass).
Shri Techtex IPO More Details Click Here
