Alpine Texworld shares to list at ₹106 after 1.4x subscription
The Indian textile manufacturer's stock market debut will reflect a slim grey market premium, capping off a moderately subscribed public offering aimed at expanding capacity and reducing debt.
Alpine Texworld is scheduled to begin trading on the BSE and NSE on Tuesday, 21 July. The shares are expected to open at ₹106, representing a marginal 0.95% premium over the final IPO price of ₹105. Unlisted market trackers attribute this flat debut to a grey market premium of just ₹1.
Demand for the ₹126.25-crore mainboard issue was moderate, closing at 1.40 times overall subscription. Investors bid for 16,862,642 shares against the 12,024,000 available, according to National Stock Exchange data. Retail individual investors drove the demand, oversubscribing their allocated portion 1.53 times. Qualified institutional buyers and non-institutional investors showed more restrained interest, with each category reaching just 1.09 times subscription.
The offering consisted entirely of a fresh issue of 1.20 crore equity shares, containing no offer-for-sale component. This structure ensures the entire capital raised flows directly to the company rather than exiting shareholders. Founded in February 2016, Alpine Texworld supplies garment manufacturers and textile traders with premium dyed and processed fabrics.
The manufacturer currently operates two facilities equipped with advanced dyeing and finishing capabilities. These sites process cotton and blended yarn, holding a combined installed annual capacity of 6,000 metric tonnes. Capital raised from the public issue will primarily fund the construction of a new weaving unit at a proposed third manufacturing site in Ahmedabad, Gujarat.
This expansion targets a direct increase in grey fabric production capacity. Additionally, the company intends to use the proceeds to prepay or repay certain borrowings, a move that will reduce balance sheet leverage. Remaining funds will cover general corporate requirements. D&A Financial Services managed the book-running process, while Kfin Technologies Ltd. served as the registrar for the issue.
