Alpine Texworld IPO listing in focus. Here's what GMP signals ahead of debut

Alpine Texworld IPO listing: The shares of Alpine Texworld IPO is all set to make its stock market debut on Tuesday, 21 July. Alpine Texworld IPO will be listed on both BSE and NSE.

The allotment of Alpine Texworld IPO was finalised on Friday, 17 July after receiving strong demand from investors during the three day subscription period.

Alpine Texworld IPO GMP today

The GMP of Alpine Texworld IPO signals flat debut tomorrow, Tuesday. The GMP of Alpine Texworld IPO is ₹1, according to websites tracking the unlisted market trend.

The estimated listing price of Alpine Texworld IPO is ₹106, which is 0.95% higher than the IPO price of ₹105, as per Investorgain.

Alpine Texworld IPO subscription status

The Alpine Texworld IPO saw stronger investor interest on the final day of the bidding process, with the public issue being subscribed 1.40 times overall.

The mainboard issue, which was open for subscription from July 14, attracted bids for 1,68,62,642 equity shares against the 1,20,24,000 shares available for sale, as per data from the National Stock Exchange (NSE).

Retail Individual Investors (RIIs) led the demand, with their reserved portion subscribed 1.53 times. Meanwhile, the Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) categories were each subscribed 1.09 times.

Alpine Texworld IPO details

The ₹126.25-crore Alpine Texworld IPO comprises a fresh issue of 1.20 crore equity shares, with no offer-for-sale (OFS) component. The company has set the price band at ₹100-105 per share.

The proceeds from the issue will primarily be used to set up a new weaving unit at its proposed Manufacturing Unit 3 in Ahmedabad, Gujarat, aimed at increasing its grey fabric production capacity. The company also intends to use the funds to prepay or repay certain borrowings and meet general corporate requirements.

D&A Financial Services is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.

Established in February 2016, Alpine Texworld Ltd is involved in the manufacturing, dyeing and processing of textiles, specialising in the production of premium-quality fabrics.

The company operates two manufacturing units with advanced dyeing and finishing capabilities, serving garment manufacturers and textile traders. Together, these facilities have an installed annual processing capacity of 6,000 metric tonnes (MT) of cotton and blended yarn.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.