Alpine Texworld's initial public offering (IPO) is scheduled to debut on July 21, with shares expected to list at ₹106, slightly above the IPO price of ₹105. The company finalized the allotment on July 17 after a strong subscription period, with the IPO being oversubscribed 1.40 times overall, according to data from the National Stock Exchange (NSE).
## Subscription Details
The IPO, which opened for subscription from July 14, attracted bids for 1,68,62,642 equity shares against the 1,20,24,000 shares available. Retail Individual Investors (RIIs) showed significant interest, with their portion subscribed 1.53 times. Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) each subscribed 1.09 times. The total size of the IPO is ₹126.25 crore, consisting of a fresh issue of 1.20 crore equity shares, with no offer-for-sale component.
## Use of Proceeds
The funds raised from the IPO will primarily be allocated to establishing a new weaving unit at Manufacturing Unit 3 in Ahmedabad, Gujarat, to enhance its grey fabric production capacity. Additionally, the company plans to use part of the proceeds to prepay or repay certain borrowings and cover general corporate expenses. D&A Financial Services serves as the book-running lead manager, while Kfin Technologies Ltd. is the registrar for the issue. Alpine Texworld, established in February 2016, specializes in the manufacturing, dyeing, and processing of textiles.
The IPO's performance may influence investor sentiment in the textile sector, particularly for newly listed companies. A successful debut could lead to increased interest in similar upcoming IPOs. Investors will watch for the stock's opening price on July 21, as well as any subsequent trading activity that may indicate market confidence in the company's growth prospects.