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Shree Ram Twistex's IPO has seen overwhelming investor interest, being oversubscribed 12 times. Non-Institutional Investors and retail participants showed significant demand. The company plans to use the funds for renewable energy projects and debt repayment. Share allotment is expected soon, with a tentative listing on March 2. View More
The Rs 110 crore IPO of Shree Ram Twistex has been oversubscribed 12 times on the third day of bidding, with 1.06 crore shares on offer. The Non-Institutional Investors (NIIs) segment saw robust demand, being subscribed 56.13 times, while the retail segment was subscribed 25.42 times. In the grey market, shares are trading at a premium of 17.31%, up from around 9%, reflecting improved investor sentiment. The issue allotment is expected on February 26, with tentative listing on the BSE and NSE scheduled for March 2. The IPO is a fully fresh issue of 1.06 crore shares, priced in the band of Rs 95–104 per share. Shree Ram Twistex IPO Day subscription status: As of 12:32 PM on Day 3, Shree Ram Twistex’s IPO has been oversubscribed 12 times in total. Retail Individual Investors (RIIs) have demonstrated strong interest, subscribing 25.42 times against the 10.60 lakh shares allocated to them. Live Events Non-Institutional Investors (NIIs) have subscribed 56.13 times their quota of 15.90 lakh shares. In contrast, Qualified Institutional Buyers (QIBs) have subscribed 9% of the 79.50 lakh shares reserved for their segment. Shree Ram Twistex IPO GMP today As of February 25, 2026, shares of Shree Ram Twistex are trading at a premium of Rs 18, reflecting a 17.3% gain compared to the earlier premium of around 9%, signalling improved investor sentiment. The estimated listing price for the issue stands at Rs 122. Shree Ram Twistex IPO details Shree Ram Twistex’s IPO consists entirely of a fresh issue of 1.06 crore equity shares, aggregating to Rs 110.24 crore. At the upper end of the price band, the company’s pre-issue market capitalisation is estimated at Rs 416 crore. The public issue will close on February 25, with the share allotment expected on February 26 and a tentative listing on the BSE and NSE scheduled for March 2. Investors must apply for a minimum of 144 shares, which amounts to Rs 14,976 at the upper price band. The issue allocation reserves 75% for Qualified Institutional Buyers (QIBs), up to 15% for Non-Institutional Investors (NIIs), and up to 10% for Retail Investors. About the company Shree Ram Twistex manufactures cotton yarns including compact ring spun and carded yarns, both combed and carded varieties. Its products are used in knitting and weaving applications such as denim, terry towels, shirting, sheeting, sweaters, socks, bottom wear and home textiles. The company also produces value-added yarns such as Eli Twist, compact slub yarns and Lycra-blended yarns. It operates on a B2B model, supplying textile manufacturers, garment exporters, bulk buyers and fabric processors across multiple states, including Gujarat, Rajasthan, Maharashtra, Tamil Nadu and West Bengal, along with exports. Its manufacturing facility is located in Gondal, Rajkot, Gujarat, with 17 compact ring-spinning machines and a total spindle count of 27,744. It also operates five warehouses with a combined storage capacity of 9,855 MT. Financial performance For FY25, Shree Ram Twistex posted a total income of Rs 256 crore, compared with Rs 232 crore in FY24. Profit after tax (PAT) increased to Rs 8 crore from Rs 6.55 crore a year earlier, while EBITDA rose to Rs 22 crore from Rs 20 crore. As of September 2025, the company reported total income of Rs 132 crore and a PAT of Rs 7 crore. Its EBITDA margin improved markedly to 12.9% in FY25 from 8.57% in FY24, while the PAT margin edged up to 3.14% from 2.83%, indicating enhanced operational efficiency and profitability. Use of proceeds The company plans to use the IPO proceeds to set up a 6.1 MW solar power plant and a 4.2 MW wind power plant for captive use, repay certain borrowings of about Rs 14.89 crore and fund working capital requirements of Rs 44 crore. The shift to captive renewable energy is expected to lower power costs, which form a key component of spinning operations. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
Clean Max Enviro Energy Solutions' IPO saw 92% subscription on its final day, driven by strong QIB demand despite subdued retail interest. The grey market premium suggests modest listing gains. The company, India's largest renewable energy provider for C&I segments, aims to use IPO proceeds for debt reduction. View More
The Rs 3,100 crore Clean Max Enviro Energy Solutions IPO has achieved 92% subscription on its third and final day of bidding, against the total offer of 2.18 crore shares. The Qualified Institutional Buyers (QIB) segment showed robust demand, subscribing 2.77 times their allocated quota, while retail participation remained subdued at just 6%. In the grey market, the IPO premium is largely steady at around Rs 1 to Rs 3, indicating only modest listing gains if the trend persists. Clean Max Enviro Energy IPO subscription status: As of 3:30 pm on the third day of bidding, the Clean Max Enviro Energy IPO had garnered an overall subscription of 92%, according to BSE data. The Retail Individual Investors (RIIs) segment showed modest participation, with only 6% of the 1.07 crore shares allotted to retail investors being subscribed. Live Events The Non-Institutional Investors (NIIs) category witnessed moderate demand, with 54% of the 46.05 lakh shares reserved for this segment being subscribed. In contrast, the Qualified Institutional Buyers (QIBs) segment saw robust interest, with subscriptions reaching 2.77 times the 61.39 lakh shares allocated to institutional investors. Clean Max Enviro Energy IPO GMP today: As of February 25, 2026, the grey market premium indicates a minimal upside of around 0.09%, or Rs 1 to Rs 3 above the upper end of the Rs 1,053 per share price band, suggesting a likely flat listing. Clean Max Enviro Energy IPO details: Clean Max Enviro Energy Solutions’ Rs 3,100 crore IPO comprises a fresh issue of 1.14 crore shares aggregating to Rs 1,200 crore and an offer for sale of 1.80 crore shares worth Rs 1,900 crore. The basis of allotment is likely to be finalised by February 26, 2026, and the company’s shares are scheduled to list on the BSE and NSE on March 2, 2026. The price band for the issue has been fixed at Rs 1,000–1,053 per share. Investors can bid in lots of 14 shares, translating into a minimum investment of Rs 14,742 for retail applicants at the upper end of the price band. The public issue will close on February 25. At the upper price band, the company’s pre-IPO market capitalisation is pegged at approximately Rs 12,325 crore. Also read: Fading vibes: Internet stocks slump up to 28% in 2026 but Paytm, Groww, 5 more earn brokerages’ backing post Q3 About the company Established in 2010, CleanMax has grown to become India’s largest renewable energy solutions provider catering to the commercial and industrial segment. As of October 2025, it operates and manages 2.80 GW of owned capacity, with an additional 3.17 GW of contracted projects under execution. The company delivers solar, wind and hybrid energy solutions, primarily through long term power purchase agreements with commercial and industrial clients. On the financial front, the company has staged a turnaround. Revenue increased to Rs 1,610 crore in FY25 from Rs 1,425 crore in FY24. It reported a net profit of Rs 19.43 crore in FY25, compared with a loss in the previous fiscal. EBITDA margins improved to 63.1% in FY25 from 52% in FY24. That said, leverage levels remain high. Net debt stood at Rs 5,938 crore in FY25, resulting in a net debt-to-equity ratio of 1.9 times. The company intends to use a substantial portion of the IPO proceeds to pare debt, which is expected to strengthen its balance sheet. Should you subscribe? Swastika Investmart assigned a Neutral rating and said the issue appears aggressively valued on recent financials, though superior EBITDA margins and operating metrics justify the pricing to some extent. It added that the IPO may be avoided for short term or listing gains but can be considered by well-informed investors for the medium to long term. Aditya Birla Money has recommended Subscribe for long term, citing under-penetration in commercial and industrial renewable energy, projected capacity additions and strong capital efficiency. It expects demand visibility to improve as renewable penetration rises and sectors such as data centres require round the clock green power. With the grey market premium at only 0.09%, the issue does not suggest a strong short term listing pop. Investors seeking quick gains may prefer to stay cautious, while those with a longer term outlook and an appetite for capital intensive renewable energy businesses could assess the company’s growth trajectory and deleveraging strategy before making a decision. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
"What Google is doing is ensuring that when we show up, we aren't putting additional costs on other ratepayers," its head of data center energy told CNBC. View More
In this articleGOOGLXELFollow your favorite stocksCREATE FREE ACCOUNT Signage at the Google Midlothian Data Center in Midlothian, Texas, US, on Friday, Nov. 14, 2025.Jonathan Johnson | Bloomberg | Getty Images Alphabet's Google will build its first data center in Minnesota and deploy a significant amount of new renewable energy in the state under an agreement with utility Xcel, the companies announced Tuesday. The data center will be located on a 480-acre site at Pine Island, a town of about 4,000 people some 70 miles southeast of Minneapolis. Google had not publicly disclosed its role in the project previously. The facility will be used for artificial intelligence applications as well as Google's broader cloud business. The proposed data center at Pine Island has faced community opposition but is supported by the city council. It has not begun construction yet. Data centers are facing political blowback in communities across the U.S. more often as people blame them for rising electricity prices in some regions and worry about their environmental impact. Data centers also consume a significant amount of water for cooling. Google declined to disclose how much electricity the data center will consume. The tech company said it will pay for any electric grid infrastructure needed for the project. The Minnesota Public Utilities Commission still must review the agreement between Google and Xcel. "What Google is doing is ensuring that when we show up, we aren't putting additional costs on other ratepayers," Amanda Peterson Corio, head of data center energy at Google, told CNBC in an interview. "We will pay 100% of our energy and electricity costs, and we will make sure that new additional capacity is put on to the grid to be able to serve our needs."Additional transmission infrastructure is needed for the Pine Island data center, said Bria Shea, president of Xcel for Minnesota, North Dakota and South Dakota. Google will pay for any new transmission associated with the project even if the data center does not materialize for some reason, Corio said. Google will deploy 1,400 megawatts of wind power, 200 megawatts of solar and 300 megawatts of battery storage to the grid under the agreement with Xcel. The renewable projects will be owned by the utility. They are expected to come online in 2028 and 2029, Shea said.Google will also pay a premium for the renewable power under a tariff designed to insulate consumers from the infrastructure costs while accelerating the deployment of clean energy in Minnesota, according to the tech company. The town's residents have formed a group called "Stop the Pine Island Data Center." The Minnesota Center for Environmental Advocacy filed a lawsuit in October challenging the environmental review of the project. Pine Island's city council approved two preliminary development plans for the data center in December, according to local broadcaster KTTC. It also approved financial incentives that include a $36 million tax abatement in February, according to the outlet. City Administrator Elizabeth Howard said Pine Island would collect more than $130 million in tax revenue from the project, according to KTTC. Minnesota has not been a major data center market in the past but the big tech companies are increasingly eyeing the state. There are currently 74 data centers in Minnesota. Virginia, the largest market worldwide, has 570 such facilities, according to the Data Center Map. Correction: This article has been updated to correct the name of the Minnesota Public Utilities Commission.
The DevCo unit will focus on identifying high-potential wind and hybrid sites 3-5 years in advance using proprietary resource data, securing land parcels, obtaining regulatory approvals and arranging grid connectivity through State and Central transmission utilities View More
The facility is expected to generate around 445 million units of clean power annually and create nearly 690 direct and indirect jobs View More
The project is expected to generate approximately 445 million units of clean electricity per year, while creating around 690 direct and indirect jobs in the region View More
Chaitanya Tendolkar, Founder of Westbay Resort & Spa and Villas by Westbay, explains how his Chartered Accountant background shaped a finance-first approach to building a luxury hospitality brand. View More
Founders in India's changing luxury hospitality sector require the discipline of financial oversight within an industry driven by emotion. For Chaitanya Tendolkar, Founder of Westbay Resort & Spa and Villas by Westbay, building a premium resort in Ganpatipule was as much about disciplined capital allocation as it was about crafting guest experiences. In a conversation with The Economic Times Digital, Tendolkar discusses how his Chartered Accountant experience shaped his strategies for scaling hospitality businesses, handling regulatory challenges, and implementing an asset-light, system-driven expansion across Maharashtra's up-and-coming regions. Economic Times (ET): You began your career as a Chartered Accountant before founding Westbay Resort & Spa. How did your financial background influence the way you structured and scaled your hospitality venture? Chaitanya Tendolkar (CT): My background as a Chartered Accountant fundamentally shaped how I approached hospitality. While many hospitality ventures focus heavily on design and guest experience, they often underestimate financial discipline. Being a CA helped me build Westbay with strong cost controls, liquidity planning, structured capital allocation, and tight compliance frameworks from day one. Hospitality is an emotionally driven industry, but without financial governance, it becomes unsustainable. Our growth has always been backed by structured financial modelling, break-even mapping, and long-term liquidity planning, not just optimism. Live Events ET: Setting up a luxury resort in Ganpatipule was both a business and emotional decision. What were the biggest strategic challenges? CT: Ganpatipule is pristine, but geographically distant from metro hubs like Mumbai and Pune. That meant higher logistics costs, delays in material procurement, and challenges in hiring skilled manpower willing to relocate. But the larger challenge was mindset, convincing guests and stakeholders that luxury hospitality can thrive beyond established destinations like Goa. We had to build not just a property, but confidence in the destination. That required sustained branding, marketing, and reputation-building. ET: or entrepreneurs looking to establish a hotel chain today, what are the three fundamentals they must get right? CT: The first fundamental would be liquidity and patience . The first year is brand-building, and not profit-making. The second would be reputation management. Online reviews and guest feedback are currency in this industry. The third would be continuous marketing and adaptation. PR, sales promotions, technology integration, and AI-driven insights are no longer optional. Hospitality is not a static asset business. It is a dynamic brand business. ET: Where do first-time hotel founders underestimate complexity? CT: They underestimate time to break-even and regulatory exposure. Land acquisition, fire compliance, environmental clearances, operational licenses- these are serious layers of complexity. One regulatory lapse can shut down operations overnight. Hospitality demands thorough SWOT analysis and compliance readiness before construction even begins. ET: What changes when you move from running one property to building a chain? CT: When scaling, you move from owner-driven operations to system-driven governance. At Westbay, our expansion strategy is management-led rather than asset-heavy. Through structured management contracts, we partner with standalone properties and bring branding, PR, revenue management, sales strategy, and operational optimisation. The focus shifts from ‘running a hotel’ to ‘building a hospitality system.’ ET: With Villas by Westbay, you are expanding into curated luxury villas. How does this model differ from traditional resort operations? CT: The villa segment operates on asset-light, experience-driven economics. Unlike a resort, villas require curated positioning, hyper-local marketing, dynamic pricing, and strong distribution networks. What makes Villas by Westbay strategic is its regional focus. While national players exist, the 400-km Konkan belt from Dapoli to Malvan remains underrepresented. By leveraging our existing brand equity in Ganpatipule, we are building first-mover advantage in Maharashtra’s emerging destinations- Ambaghat, Alibaug, Ratnagiri, and beyond. ET: What determines whether a resort becomes sustainably profitable? CT: Occupancy and ADR matter, but brand positioning and marketing liquidity matter more. Hospitality has heavy upfront capex. Without sustained marketing investment and brand recall, occupancy fluctuates. On the other hand, profitability comes from strong brand image, operational efficiency, strategic pricing, experience monetisation (F&B, spa, activities) and reputation capital. When managed correctly, hospitality is not low-margin; it is brand-sensitive. ET: How do you evaluate sustainability investments like solar or water recycling? CT: Sustainability is both environmental responsibility and cost optimisation. Solar panels, water recycling, and energy-efficient systems reduce long-term operating costs. But such investments must be pre-planned in capex allocation. Sustainability cannot be an afterthought, it must be built into financial structuring. ET: How do you consistently deliver personalised experiences? CT: Luxury today means engagement. At Westbay, we focus on immersive in-resort experiences including activities for all age groups, curated dining options, relaxation-driven environments, and service personalisation. The goal is to create a self-contained experience ecosystem. ET: How do you manage online reviews and how do you handle criticism publicly? CT: We treat reviews as operational dashboards. Our staff is encouraged to proactively request detailed feedback, which ensures accountability at every touchpoint. Real-time monitoring allows us to identify patterns and make corrections quickly. Negative reviews are inevitable. We respond transparently, address issues within scope, and provide honest explanations when required. Reputation is built not by avoiding criticism, but by handling it with professionalism and accountability. ET: s you scale, how will you maintain service quality and what is your 3–5 year roadmap? CT: Training and morale will be the key. We invest in periodic staff training, team engagement initiatives, celebrations, and structured internal culture-building. A motivated team is the backbone of service excellence. Our strategy is asset-light expansion through management partnerships and curated villa listings under Villas by Westbay. Capex will largely be allocated toward marketing, brand-building, and distribution systems rather than asset acquisition. Our vision is long-term sustainability, destination development, and creating a scalable hospitality ecosystem across Maharashtra, one property at a time. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!
OpenAI CEO Sam Altman defended the resource use of AI on Friday, arguing that water concerns were "fake" and comparing it to human energy use. View More
Sam Altman, chief executive officer of OpenAI Inc., at the AI Impact Summit in New Delhi, India, on Thursday, Feb. 19, 2026. Prakash Singh | Bloomberg | Getty Images OpenAI CEO Sam Altman on Friday defended the resource demands of artificial intelligence, calling concerns about data centers' water use "fake" and comparing the energy used by AI systems to that of humans.Altman was speaking on the sidelines of the India AI Impact summit in an interview with The Indian Express when he was asked to address common criticisms of AI, such as its energy and water consumption. The CEO responded that claims circulating online that ChatGPT uses gallons of water per query were "completely untrue, totally insane," and have "no connection to reality." Data centers traditionally use large amounts of water to cool electrical components and prevent overheating. While data center cooling technologies have promised reduced consumption, some newer data centers no longer rely on water at all.Still, even with improving efficiency, a report last month from water technology company Xylem and Global Water Intelligence projected that the water drawn for cooling would more than triple over the next 25 years as computing demand rises, putting pressure on water systems.While dismissing fears about water use, Altman said energy consumption remains a fair AI concern. "Not per query, but in total â because the world is using so much AI ... and we need to move towards nuclear or wind and solar very quickly," he said. Asked about previous comments from Microsoft founder Bill Gates â who has suggested that the efficiency of the human brain proves that AI can evolve to also become more energy efficient over time âAltman pushed back."One of the things that is always unfair in this comparison is people talk about how much energy it takes to train an AI model ... But it also takes a lot of energy to train a human," he said. "It takes like 20 years of life, and all the food you eat before that time, before you get smart." "The fair comparison is if you ask ChatGPT a question, how much energy does it take once a model is trained to answer that question, versus a human, and probably AI has already caught up on an energy efficiency basis, measured that way," he added. The process Altman is referencing is known as inference, which refers to the use of AI models that have already been trained to create new outputs. AI inference is typically much less power-intensive than the training itself. Altman's comments, particularly the AI-to-human comparison, have since sparked some debate online amid growing anxiety about AI's ability to replace human work.Sridhar Vembu, co-founder and chief scientist of Indian software company Zoho Corporation, who was present at the summit, criticized the human-AI equivalence. "I do not want to see a world where we equate a piece of technology to a human being," the billionaire said in an X post. The debate comes as governments and companies pour billions into new data centers to support the computing needs of AI systems.According to a May report by the International Monetary Fund, electricity consumption by the world's data centers in 2023 had already reached levels comparable to Germany or France, soon after the launch of OpenAI's groundbreaking ChatGPT AI model.In response, some governments have been working to speed up approval processes to bring new and cheap energy online, with some environmentalists warning such moves could clash with global net-zero goals.Some local communities in countries like the U.S. have also pushed back on development projects over fears they will strain electricity grids and raise overall electricity costs. Last week, the City Council in San Marcos, Texas, voted down a proposed $1.5 billion data center project after months of public opposition. Amid such pushback, many tech leaders, including OpenAI's Altman, have argued data centers will require more energy production from diverse sources, including renewable and nuclear energy. watch nowVIDEO5:3505:35Energy Fuels CEO on surging demand for uranium & rare earthsWorldwide Exchange