Alpine Texworld IPO Gaining Momentum as Grey Market Premium Rises Amid 34% Subscription on Day Two

Alpine Texworld IPO Gaining Momentum as Grey Market Premium Rises Amid 34% Subscription on Day Two​

Alpine Texworld Limited's initial public offering (IPO) is gaining traction as the company sees a significant boost in market interest. The listing-day bidding recorded an overall subscription of 34 percent by 10:15 am on July 15, indicating growing enthusiasm for the textile firm.

Qualified Institutional Buyers (QIBs) have demonstrated strong demand, fully subscribing to their reserved quota. Meanwhile, Retail Individual Investors (RIIs) and Non-Institutional Investors (NIIs) registered subscriptions of 34 percent and 33 percent, respectively, on the National Stock Exchange.

IPO Details and Funding Goals​

The offering is a fresh issue, aiming to raise Rs 126.25 crore through the sale of 1.2 crore equity shares. The price band for the stock has been set at Rs 100 to Rs 105 per share. Alpine Texworld plans to utilize the net proceeds from this fresh issue for several strategic purposes. These include setting up a new weaving unit in Ahmedabad, Gujarat, repaying existing borrowings, and meeting general corporate needs.

Grey Market Premium Signals Potential Listing Gains​

Market tracking platforms are observing a healthy premium building around the stock. As of July 15 morning, Alpine Texworld's shares command a grey market premium (GMP) of Rs 10 in the unlisted market. This GMP suggests an estimated listing price around Rs 115 per share, which translates to a potential gain of nearly 10 percent for investors. It is important to note that the GMP remains speculative and does not constitute official offering data.

Company Performance Highlights​

Incorporated in February 2016, Alpine Texworld focuses on dyeing and processing fabrics to produce high-quality textiles. The company has demonstrated substantial financial improvement in recent years. For the fiscal year ending March 2026, the company reported a total income of Rs 350.18 crore, which represents a considerable 47 percent increase compared to the previous fiscal year's income of Rs 237.66 crore.

Profit after tax also experienced a sharp surge, jumping 152 percent year-on-year to reach Rs 21.72 crore from Rs 8.63 crore. Furthermore, EBITDA improved significantly, rising from Rs 27.00 crore to Rs 47.45 crore.

Key Dates and Investment Details​

The IPO requires retail investors to apply for a minimum of one lot, which comprises 142 shares. Based on the upper price band of Rs 105 per share, this constitutes a minimum investment of Rs 14,910. The allotment process is scheduled to be finalized on July 17. Shares are expected to begin trading on the BSE and NSE market starting July 21.

IPO Management and Next Steps​

The initial public offering (IPO) is being managed by D&A Financial Services Pvt. Ltd. as the book-running lead manager, with Kfin Technologies Ltd. serving as the registrar. This issue runs concurrently with the SBI Funds Management IPO, both launched on the same day.