Alpine Texworld IPO Shows Muted Response, Secures 3% Subscription as Market Awaits Listing

Alpine Texworld IPO Shows Muted Response, Secures 3% Subscription as Market Awaits Listing​

Alpine Texworld Limited's initial public offering (IPO) registered a slow start on its debut day of bidding. By 10:21 am on July 14, the issue recorded an overall subscription of just 3 percent, according to data from the National Stock Exchange.

The mainboard issue saw bids for 3,70,620 shares against the total offering of 1,20,24,000 shares. Retail investors led the interest in the IPO, booking nearly 4 percent of their reserved portion. The non-institutional investor (NII) category registered a subscription rate of 1 percent.

Overview of Alpine Texworld IPO Offering​

This issue is an entirely fresh offering, with no offer for sale (OFS) component. Alpine Texworld aims to raise Rs 126.25 crore through the issuance of 1.2 crore equity shares. The price band for the stock has been fixed at Rs 100 to Rs 105 per share.

Retail investors are required to apply for a minimum lot of 142 shares, translating to a minimum investment of Rs 14,910 based on the upper price band. The company plans to utilize the net proceeds from this fresh issue for several purposes. These include setting up a new weaving unit in Ahmedabad, Gujarat, repaying existing borrowings, and meeting general corporate needs.

Company Performance and Market Sentiment​

Alpine Texworld was incorporated in February 2016 and is engaged in dyeing and processing fabrics to produce high-quality textiles. The company demonstrated significant growth metrics for the fiscal year ending March 2026.

For this period, the company reported a total income of Rs 350.18 crore, which marks a 47 per cent increase from the previous fiscal year's figure of Rs 237.66 crore. Profit after tax also saw a notable jump of 152 per cent year-on-year, rising to Rs 21.72 crore from Rs 8.63 crore. EBITDA improved substantially, reaching Rs 47.45 crore from Rs 27.00 crore.

Unlisted Market and Listing Expectations​

As of July 15 morning, market tracking platforms report a modest grey market premium (GMP) of Rs 5 for Alpine Texworld shares in the unlisted market. Based on this GMP, both Investorgain and IPO Watch estimate the listing price to be around Rs 110 per share. This suggests a potential gain of nearly 5 percent for investors.

It is crucial to note that GMP is based on speculation and does not represent official data provided by the exchange. The company's allotment is scheduled to be finalized on July 17, with shares expected to commence trading on the BSE and NSE on July 21.

IPO Timing and Logistics​

The Alpine Texworld IPO coincides with the launch of the SBI Funds Management IPO. D&A Financial Services Pvt. Ltd. serves as the book-running lead manager for this issue, while Kfin Technologies Ltd. acts as the registrar. The slow uptake thus far places the focus on pre-IPO valuation against a competitive market backdrop.