The public issue of textile maker Alpine Texworld Limited failed to spark much enthusiasm among investors as it opened on the first day of subscription. When the offer went live on Tuesday, July 14, the response so far has been muted and lukewarm at best. Yet there is a twist: while the subscription numbers stayed slow, sentiment in the grey market remained upbeat, keeping the issue's grey market premium (GMP) firmly in positive territory.
What the grey market is saying
Alpine Texworld's IPO GMP stood at a positive Rs 5 today. Notably, the premium had jumped a day before the subscription window opened and continued to hold its ground on day one as well. The GMP essentially reflects the price at which shares are changing hands in the unofficial market ahead of listing.
Going by the current premium, the issue is expected to list at around Rs 110 per share. That figure is arrived at by adding the upper price band of Rs 105 per share to the Rs 5 GMP. Based on data available at 10:30 am, the expected gain or loss per share works out to roughly 4.76%.
Size of the issue and share allocation
The Alpine Texworld public issue comprises 1.1 crore equity shares in total. Of these, 0.84 crore shares are set aside for retail investors, 0.01 crore shares for qualified institutional buyers (QIBs), and 0.35 crore shares for non-institutional investors. The company has thus carved out a defined portion for each category of investor.
This is a book built issue with a total size of Rs 126.25 crore. It is an entirely fresh issue, meaning 1.2 crore new shares worth Rs 126.25 crore are being offered. As a result, the full amount raised will flow directly into the company.
Dates and listing
The IPO opened for subscription on July 14 and will close on July 16, 2026. The allotment of shares is expected to be finalised on July 17. On the listing front, the company will be listed on both major exchanges, the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Lot size and the money you need
Each lot has been fixed at 142 shares. Retail investors are required to put in a minimum of one lot, which amounts to Rs 14,910. For small non-institutional investors (sNII), the minimum works out to 14 lots, equivalent to Rs 2,08,740. For big non-institutional investors (bNII), the threshold has been set at 68 lots. These numbers make it clear that the entry cost has been kept relatively low for retail buyers, while the larger categories call for far heavier commitments.
