Alpine Texworld shares list at par with IPO issue price on NSE, BSE

Shares of textile manufacturer Alpine Texworld started trading at ₹105 apiece on the National Stock Exchange (NSE) and the BSE on Tuesday, July 21.

The listing is at par with the IPO issue price of ₹105 per equity share.

Alpine Texworld IPO: Here's how much investors made per lot

The ₹126.25 crore public issue was exclusively a fresh issuance of 1.20 crore shares, with no offer for sale (OFS) component.

The proceeds from the issue will boost the company's growth by supporting the expansion of its production capabilities through the establishment of the proposed Manufacturing Unit 3. The funds will also be used for debt repayment and general corporate purposes.

Sandeep Santkumar Agrawal, Promoter, Chairman and Managing Director of Alpine Texworld, said, "The Initial Public Offer marks a significant milestone in the journey of Alpine Texworld Limited. Since our inception, we have focused on strengthening our integrated manufacturing capabilities across spinning and weaving, supported by automated machinery, yarn sizing services and renewable energy initiatives. Our operations are supported by strategically located manufacturing facilities, enabling us to undertake the manufacturing of yarn and grey fabric."

The initial share sale was subscribed 1.40 times, with bids for 1,68,76,274 shares as against 1,20,24,000 shares on offer, according to the data available on the NSE website.

Alpine Texworld is involved in the manufacturing of cotton yarn and grey fabric through its integrated spinning and weaving operations.