Alpine Texworld Shares Make Flat Debut, Textile Company's Stock Lists With No Gains On NSE and BSE

Alpine Texworld shares debuted on the NSE and BSE on July 21 with no gains. The stock debuted at Rs 105 apiece at the upper end of the issue price on the NSE. On the BSE the stock listed with no premium at Rs 105 apiece.

Alpine Texworld Listing Day Gain

Applicants who were allotted shares would not have made any gains as the stock listed at the upper end of the price band. The Gujarat-based company's market capitalisation stood at Rs 401.59 crore and 1.02 lakh shares of the company changed hands on the exchange.

Alpine Texworld IPO: Offer Size

Alpine Texworld IPO was worth Rs 126.25 crore. The textile manufacturer's issue consisted entirely of a fresh issuance of 12 million shares. Alpine Texworld IPO price band was fixed at Rs 100-Rs 105 per share.

Alpine Texworld IPO: Subscription

The minimum lot size for application for retail investors was fixed at 1 lot or 142 shares, which aggregated to an investment of Rs 14,910. Alpine Texworld IPO was oversubscribed 1.40 times in its subscription period which started on July 14 and ended on July 16. Investors across categories placed bids for over 16.87 million shares compared to the 12 million shares offered for subscription. The textile manufacturer's non-institutional investors (NII) quota was booked 1.09 times. The Alpine Texworld IPO was booked 1.54 times in the retail individual investor category. The issue was booked 1.09 times in the Qualified Institutional Buyers (QIB) category.

Alpine Texworld: Promoters

Alpine Texworld's promoters held a 90.36 per cent stake in the company before the public issue. The promoters, which include Sumit Champalal Agarwal, Sandeep Santkumar Agarwal, and Sachinkumar Santkumar Agarwal, will reduce their stake to 61.96 per cent post-IPO.

Alpine Texworld IPO: Objective

Alpine Texworld will use the funds raised via the initial public offering to set up a new weaving unit at its proposed Manufacturing Unit 3 in Ahmedabad to expand its grey fabric production capabilities. Additionally, the proceeds will be utilized for the prepayment or repayment of certain outstanding borrowings and for general corporate purposes.

At the time of writing, shares of Alpine Texworld traded at Rs 105 on the NSE. On the BSE the textile company’s shares traded at Rs 105 apiece.