Alpine Texworld IPO to list on BSE and NSE Tuesday
Business
Alpine Texworld is making its stock market debut on BSE and NSE this Tuesday.
The initial public offering got solid attention, especially from retail investors who oversubscribed their portion by 1.53 times during the July 14-16 window.
Overall, demand was decent, with total subscriptions at 1.40 times.
Alpine Texworld expected listing ₹106
Shares are expected to list at ₹106, just a tiny bump over the ₹105 issue price, so don't expect fireworks.
The money raised will help set up a new weaving unit in Ahmedabad, boost fabric production, pay off some debt, and cover general expenses.
Founded in 2016, Alpine Texworld already runs two textile units processing up to 6,000 metric tons each year.