Summary of this article
Alpine Texworld IPO GMP rises as the issue enters its second day of bidding
QIB quota fully subscribed, while retail and NII demand remains moderate
Company plans expansion, debt repayment with fresh issue proceeds
Alpine Texworld IPO GMP: The grey market premium (GMP) for Alpine Texworld's shares in the grey market increased as the company's initial public offering (IPO) entered the second day of bidding. The issue so far has received a moderate response from investors. Qualified institutional buyers (QIBs) have fully subscribed to their quota, while the retail portion has attracted a moderate response. Demand from non-institutional investors (NIIs) has remained relatively muted so far.
Alpine Texworld, incorporated in 2016, is engaged in the dyeing and processing of fabrics. The company manufactures textiles used by garment manufacturers and traders and operates two manufacturing facilities. It also runs 112 high-speed looms that produce denim, suiting, shirting and ready-for-dyeing (RFD) fabrics. The company has also invested in renewable energy through a 5.40 MW ground-mounted solar plant and an 820 kW rooftop solar installation.
Alpine Texworld IPO Subscription Status: Day 2
As of 2:34 PM on July 15, the Alpine Texworld IPO was subscribed 0.66 times.
The retail investors' portion was subscribed 0.71 times, while the QIB category was just fully subscribed. The NII segment was subscribed to 0.53 times.
Within the NII category, the bNII portion was subscribed to 0.55 times, while the sNII category was subscribed to 0.47 times.
Overall, bids were received for 79,39,078 shares against 1,20,24,000 shares on offer. The issue had received 35,263 applications.
Alpine Texworld IPO Details
The Alpine Texworld IPO is a book-built issue worth Rs 126.25 crore. The public issue is entirely a fresh issue of 12 million equity shares. Since the issue consists only of a fresh issue, the company will receive the entire proceeds from the IPO after deducting issue-related expenses.
The IPO opened for subscription on July 14 and will close on July 16. The price band has been fixed at Rs 100 to Rs 105 per share.
Investors can apply for lots of 142 shares. At the upper price band, the minimum investment required for retail investors is Rs 14,910. The minimum investment for sNII investors is Rs 2,08,740 for 1,988 shares, while bNII investors need to invest at least Rs 10,13,880 for 9,656 shares.
The basis of allotment is expected to be finalised on July 17. Refunds or release of blocked funds and credit of shares to successful applicants are scheduled for July 20. The shares are proposed to be listed on both the NSE and BSE on July 21.
D&A Financial Services is the book-running lead manager to the issue, while Kfin Technologies is the registrar.
Alpine Texworld IPO Objectives
Alpine Texworld plans to use the IPO proceeds primarily to expand its manufacturing capacity and strengthen its balance sheet. The company will invest Rs 32.08 crore to set up a new weaving unit at its proposed manufacturing unit in Ahmedabad, Gujarat.
It will also use Rs 52.20 crore to prepay or repay certain outstanding borrowings, reducing its debt burden. The remaining funds will be allocated towards general corporate purposes.
Alpine Texworld IPO GMP Today
The latest Alpine Texworld IPO GMP stood at Rs 10 as of 1:34 PM on July 15, up from Rs 5 on the opening day, according to websites that track such trades.
Based on the upper end of the price band at Rs 105 and the current GMP, the estimated listing price is Rs 115 per share, indicating a potential listing gain of around 9.52 per cent, or about Rs 10 per share.
The GMP trend has remained positive over the past week. It was at Rs 2 between July 9 and July 12, increased to Rs 5 on July 13 and remained at that level on the IPO opening day before rising to Rs 10 on the second day of bidding.
Alpine Texworld Financials
Alpine Texworld reported strong growth in the latest financial year. For the year ended March 31, 2026, the company reported total income of Rs 350.18 crore, up from Rs 237.66 crore in FY25, reflecting a growth of around 47 per cent.
Profit after tax increased sharply to Rs 21.72 crore in FY26 from Rs 8.63 crore in FY25, registering a growth of around 152 per cent.
Ebitda also improved to Rs 47.45 crore in FY26 from Rs 27 crore in the previous financial year.
As of March 31, 2026, the company had total assets of Rs 305.31 crore and a net worth of Rs 72.88 crore. It had reserves and surplus of Rs 46.32 crore and a total debt of Rs 177.60 crore, as of the same period.
Alpine Texworld Key Performance Indicators
The company's profitability ratios remained healthy in FY26, with return on equity (ROE) at 33.85 per cent, return on capital employed (ROCE) at 17.56 per cent and return on net worth (RoNW) at 29.44 per cent. Its debt-to-equity ratio stood at 2.35, while the PAT margin and Ebitda margin came in at 6.34 per cent and 13.84 per cent, respectively.
At the upper end of the price band, the issue is valued at a price-to-book (P/B) ratio of 3.78 times and a post-issue price-to-earnings (P/E) ratio of 18.49 times. The company's pre-IPO earnings per share (EPS) stood at Rs 8.28, which moderates to Rs 5.68 on a post-issue basis after accounting for the expanded equity base.
Promoter holding will decline to 61.96 per cent after the IPO from 90.36 per cent before the issue. At the upper end of the price band, the company's implied market capitalisation is around Rs 401.59 crore.
