The Rs 126.25 crore Alpine Texworld Limited IPO entered its second day of bidding on Wednesday with healthy investor interest. In the grey market, the IPO is commanding a premium of around 10% over its upper price band of Rs 105, implying an estimated listing price of nearly Rs 115 per share. However, the grey market premium (GMP) is an unofficial indicator and can change based on market sentiment.

On the first day of bidding, the IPO was subscribed 28% against the 1.20 crore equity shares on offer. The Retail Individual Investors (RII) portion saw 25% subscription, with bids received for the 84.16 lakh shares reserved for the category. The three-day public issue will remain open for subscription until July 16, 2026.

Formerly known as Alpine Spinweave, Alpine Texworld is a textile manufacturer that produces high-quality, durable fabrics for a wide range of industries. The company has set the IPO price band at Rs 100–Rs 105 per equity share. The issue consists entirely of a fresh issue of 1.20 crore equity shares, with no offer-for-sale (OFS) component.

The company plans to raise Rs 126.25 crore through the public issue. The proceeds will be used to fund expansion plans, strengthen its financial position, and meet general corporate purposes.

The basis of allotment is expected to be finalised on July 17, 2026, while the shares are likely to debut on the National Stock Exchange (NSE) and BSE on July 21, 2026.

Retail investors can bid for a minimum of one lot comprising 142 shares. At the upper end of the price band, the minimum investment stands at Rs 14,910. Applications can be made in multiples of the lot size, with the maximum investment permitted for retail investors capped at Rs 1,93,830.

Alpine Texworld IPO Subscription Status

Alpine Texworld's IPO witnessed a 28% overall subscription on the first day of bidding against the 1.20 crore equity shares on offer.

Retail Individual Investors (RIIs): Subscribed 25% against the 84.16 lakh shares reserved for the category.

Non-Institutional Investors (NIIs): Subscribed 31% against the 34.86 lakh shares earmarked for them.

Qualified Institutional Buyers (QIBs): Fully subscribed at 100% against the 1.20 lakh shares allocated to the category.

Alpine Texworld IPO GMP Today

In the grey market, Alpine Texworld's IPO is trading at a premium of around Rs 10 per share, or nearly 10% over the upper price band of Rs 105. Based on the current Grey Market Premium (GMP), the stock is expected to list at an estimated price of around Rs 115 per share.

However, investors should note that the Grey Market Premium is an unofficial market indicator and is subject to change. It should not be viewed as a guarantee of the IPO's listing performance.

Alpine Texworld’s IPO has been priced at 10 times the face value at the lower price band and 10.5 times the face value at the upper price band. Based on the company’s diluted earnings per share (EPS) for FY2026, the IPO is valued at a price-to-earnings (P/E) multiple of 12.22 times at the lower band and 12.84 times at the upper band.

The valuation appears attractive compared with the industry peer average, which currently stands at a significantly higher P/E multiple of around 60.69 times.

D&A Financial Services Pvt. Ltd. is acting as the book-running lead manager for the IPO, while KFin Technologies Ltd. has been appointed as the registrar for the issue.

How Alpine Texworld will use IPO funds

The company plans to utilize the IPO proceeds primarily for capacity expansion, debt reduction, and general corporate purposes.

A significant portion of the funds will be directed towards expanding manufacturing capabilities. Alpine Texworld plans to invest Rs 32.08 crore in setting up a new weaving unit at its proposed Manufacturing Unit 3 in Ahmedabad, Gujarat. The facility is expected to enhance the company’s grey fabric production capacity.

Another Rs 52.20 crore will be used for repayment or prepayment of existing borrowings, helping reduce debt and improve financial flexibility. The remaining funds will support routine business operations and future growth initiatives.

Established in 2016, Alpine Texworld operates in the textile manufacturing industry with expertise in fabric dyeing and processing. The company produces a wide range of textiles and supplies products to garment manufacturers, traders, and other industry participants.

The company currently operates two manufacturing facilities equipped with modern dyeing and finishing technologies. Together, these facilities have an installed capacity of approximately 6,000 metric tonnes annually for processing cotton and blended yarn.

In addition to textiles, Alpine Texworld has expanded into renewable energy as part of its sustainability initiatives. The company commissioned an 820 KW rooftop solar plant at its Unit 1 facility in January 2024. It later installed a 5.4 MW ground-mounted solar project in Banaskantha, Gujarat, in March 2025.