Alpine Texworld launches IPO from Tuesday to raise ₹126cr
Business
Alpine Texworld, known for making yarn and gray fabric, is launching an IPO to raise ₹126 crore.
Starting Tuesday, it is offering 1.20 crore shares priced at ₹100 to ₹105 each.
The funds will mainly go toward building a new weaving unit in Ahmedabad, clearing some debt, and handling general business needs.
Alpine Texworld Ahmedabad plant boosts efficiency
The new Ahmedabad facility is set to boost how much, and how efficiently, Alpine Texworld can produce.
Sandeep Santkumar Agrawal, the company's promoter, chairman and managing director, shared that this move will make its manufacturing process even stronger by adding more automation and using renewable energy.
He also pointed out that its strategic location helps it stay competitive in the market.