Alpine Texworld IPO debuts with 0.28x subscription for 1.2 cr
Alpine Texworld's IPO kicked off this week, but it didn't exactly grab investors' attention: subscription was just 0.28 times on day one.
The company is offering 1.2 crore new shares (no shares from existing owners).
Alpine Texworld QIBs filled retail weak
Retail investors showed limited interest, subscribing only 0.26 times, while non-institutional buyers were at 0.31 times; qualified institutional buyers filled their quota completely.
Shares are priced between ₹100 to ₹105 each, with a minimum retail investment of ₹14,910 for 142 shares.
Alpine Texworld allotment July 17
Allotment is set for July 17 and shares should hit accounts on July 20; refunds go out the same day if you don't get allotted.
The stock is tentatively scheduled to list on BSE and NSE on July 21, with a gray market premium suggesting a small listing gain over the top price band.
Funds raised will help set up a weaving unit in Ahmedabad and pay off some loans.