Alpine Texworld's ₹126.25 crore IPO reached 34% subscription on its second day, led by strong interest from institutional investors. The company plans to use the fresh funds to expand its manufacturing capacity in Gujarat and reduce debt. Investors are watching the 10% grey market premium as a potential indicator of listing sentiment.
Alpine Texworld Limited's initial public offering moved into its second day on July 15, recording a 34 percent subscription rate by 10:15 am. The company is seeking to raise ₹126.25 crore through a fresh issue of 1.2 crore equity shares. Investors have placed bids for over 41 lakh shares against the total offer size of 1.2 crore shares.
Institutional Interest and Retail Participation
The subscription trend highlights significant interest from Qualified Institutional Buyers, who have fully booked their allocated portion by mid-day on the second day. Meanwhile, both Retail Individual Investors and Non-Institutional Investors have shown a more moderate response, with subscription levels for these segments hovering around the 33 to 34 percent mark. Retail applicants can bid for a minimum lot of 142 shares, which requires an investment of ₹14,910 at the upper price band of ₹105.
Business Expansion and Financial Context
The company has outlined a clear strategy for the net proceeds from this IPO. A major portion of the funds will be directed toward setting up a new weaving facility in Ahmedabad, Gujarat, which is intended to scale up production capabilities. Additionally, the company plans to use part of the capital to lower its debt burden, potentially improving its balance sheet flexibility. This capital allocation strategy follows a year of significant growth for the firm; for the fiscal year ending March 2026, Alpine Texworld reported a 47 percent increase in total income to ₹350.18 crore, while profit after tax saw a sharp rise of 152 percent, reaching ₹21.72 crore.
Market Sentiment and Listing Timeline
In the unofficial grey market, Alpine Texworld shares are currently seeing a premium of ₹10 per share. This indicates a potential listing price of around ₹115, suggesting a gain of approximately 10 percent for investors based on the upper price band. It is important to note that grey market premiums are based on unofficial market sentiment and do not guarantee actual listing gains. The final share allotment is expected to be finalized on July 17. Successful applicants will see the shares credited to their demat accounts, with the stock scheduled to begin trading on both the BSE and NSE on July 21. Investors will next monitor the final subscription figures at the close of the issue to gauge overall market demand.