Alpine Texworld IPO fully subscribed on Day 3: Check allotment date and steps

The initial public offering of textile manufacturer Alpine Texworld Ltd was fully subscribed on the final day of bidding on Thursday, July 16.

It got bid for 1,24,79,386 shares compared to 1,20,24,000 shares on offer, according to the NSE data until 11:42 am. The category for non-institutional investors attracted 82% subscription and the quota for retail investors received 1.13 times subscription. The portion meant for qualified institutional buyers (QIBs) got subscribed 1.04 times.

The public issue is entirely a fresh issuance of 1.20 crore equity shares aggregating to ₹126.25 crore. There is no offer for sale (OFS) component.

The net proceeds from the fresh issue will be utilised to finance the cost of setting up a new weaving facility at proposed manufacturing unit 3, debt repayment and general corporate purposes.

"In addition, our company expects to receive the benefit of listing the equity shares on the stock exchanges and enhancement of our company’s visibility and brand image and the creation of a public market for our equity shares in India," according to the red herring prospectus.

With a price band of ₹100 to ₹105 per share, a lot consists of 142 shares.

Alpine Texworld Ltd is a vertically integrated textile manufacturer. It procures processed cotton, which is subject to open-end spinning, leading to yarns of various thicknesses. The yarns are then woven into grey fabric using looms.

Alpine Texworld IPO allotment and listing date

Alpine Texworld IPO allotment is likely to be finalised on Friday, July 17. Shares of the company will be listed on the NSE and the BSE on Tuesday, July 21.

How to check Alpine Texworld IPO allotment status on NSE

• Go to NSE’s allotment status website: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select ‘Equity & SME IPO bid details’
• Choose ‘Alpine Texworld’ under the symbol 'ALPINETEX'
• Enter your PAN and application number
• Click on submit

Steps to check Alpine Texworld IPO allotment status on KFin Technologies website

• Open this page page: https://ipostatus.kfintech.com/
• In the ‘Select IPO’ dropdown, pick 'Alpine Texworld Ltd'
• Enter IPO application number, PAN or Demat account number
• Hit the 'Submit' button