Alpine Texworld IPO Attracts Full Institutional Bidding Ahead of Closing
Alpine Texworld’s initial public offering has secured full institutional backing and strong retail interest, signaling robust market appetite for undervalued textile manufacturing assets ahead of its July 21 listing.
Alpine Texworld’s initial public offering reached 80% overall subscription by the end of its second bidding day, driven by full participation from institutional investors. The three-day Rs 126.25 crore fresh issue closes on July 16, 2026.
Qualified Institutional Buyers fully subscribed their 1.20 lakh share allocation. Retail investors also showed strong demand, bidding for 86% of their reserved 84.16 lakh shares, while non-institutional investors reached 65% subscription.
The offering is priced between Rs 100 and Rs 105 per share, valuing the company at a price-to-earnings multiple of 12.22 to 12.84 times based on FY2026 diluted earnings. This represents a significant discount to the industry peer average P/E of approximately 60.69 times, presenting a potential value opportunity for market participants.
Unofficial grey market indicators currently suggest a premium of around Rs 5 per share. This points to an estimated debut price of Rs 110 on the National Stock Exchange and Bombay Stock Exchange, scheduled for July 21, 2026, though such metrics remain subject to pre-listing volatility.
Proceeds from the 1.20 crore new equity shares will primarily target debt reduction and operational scaling. The company will allocate Rs 52.20 crore to repay existing borrowings, improving its balance sheet flexibility.
Additionally, Rs 32.08 crore is earmarked for a new weaving unit at its upcoming Manufacturing Unit 3 in Ahmedabad, Gujarat. This investment aims to expand the manufacturer's grey fabric production capabilities.
Established in 2016, the textile producer operates two facilities with an annual processing capacity of 6,000 metric tonnes for cotton and blended yarn. The company has also integrated renewable energy, commissioning a 5.4 MW ground-mounted solar project in Banaskantha in March 2025 following a smaller rooftop installation.
D&A Financial Services Pvt. Ltd. is managing the book-running process, with KFin Technologies Ltd. serving as the registrar. The basis of allotment will be finalized on July 17, 2026.
