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Alpine Texworld IPO fully subscribed on final bidding day
The textile maker raised subscriptions to 1.40 times overall, after Day 3 demand pulled in bids for 1.68 crore shares against 1.20 crore offered shares.
Alpine Texworlds IPO was fully subscribed on the final day of bidding, according to LiveMint Markets, bringing the overall subscription to 1.40 times after a muted first two days.
By the close of Day 3, bids totaled 1.68 crore shares versus 1.20 crore shares on offer. Retail investors were subscribed 1.56 times, non-institutional investors booked 1.09 times, and qualified institutional buyers were also subscribed 1.09 times.
The issue comprises an entirely fresh offering of 1.20 crore equity shares, with no offer for sale component. The company aims to raise ₹126 crore through a price band of ₹100 to ₹105 per share.
Alpine Texworld plans to use net proceeds to set up a new weaving unit in Ahmedabad, Gujarat, tied to its proposed Manufacturing Unit 3, while also using funds for prepayment or repayment of certain borrowings and general corporate purposes. Allotments are expected on July 17, refunds on July 20, and listing on BSE and NSE on July 21, with the grey market premium reportedly at nil, suggesting a potential listing near the issue price.