Alpine Texworld Limited IPO
Listed
1.38×
Subscribed
Price band
₹105 – ₹105
Open – close
14 Jul 2026
to 16 Jul 2026
Listing
21 Jul 2026
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Mixed5 of 7 dimensions read
A mixed but reasonable offering — 3 positive against 1 negative signals
Strength68/100
- Strong revenue growthRevenue compounding at 36.6% across the reported years
- Profit growth outpaces salesPAT up 110.9% a year against revenue at 36.6% — check whether that is operating leverage or a one-off before extrapolating it
- High return on equityROE of 28.8%
- Heavily indebtedDebt/equity of 2.35× — leverage this high leaves little margin if earnings dip
- Minimal related-party dealingsRelated-party transactions are only 2.6% of revenue
- Institutional book coveredQIB portion subscribed 1.09×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens14 Jul 2026
- Closes16 Jul 2026
- Listing21 Jul 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB1.09x
Non-institutionalNII / HNI1.09x
Retail individualRII1.51x
Chance of allotment
Retail1.51× subscribed
~1 in 1.5
Retail is 1.51× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 1.5 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII1.09× subscribed
~1 in 1.1
HNI is 1.09× subscribed. This category is allotted proportionately, so a bid receives roughly 1/1.1 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹105 – ₹105
Company & valuation
Return on equity28.80%
Debt / equity2.35×
Related-party2.56%of revenue
What the money is for
Stated use of the net proceeds
- 01Proposing to finance the cost of setting up a new weaving unit at Proposed Manufacturing Unit 3 to expand its production capabilities to produce Grey Fabric at Ahmedabad, Gujarat, India₹307.11 Cr
- 02Prepayment or repayment, in part or full, of certain outstanding borrowings₹522 Cr
- 03General corporate purposesnot stated
Objects with no stated amount — typically general corporate purposes — are funded from whatever remains, so the quantified figures do not sum to the whole issue.
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2024 | 183.603 | — | 4.881 | 42.551 | — |
| 2025 | 237.324 | — | 8.626 | 52.896 | — |
| 2026 | 342.713 | — | 21.716 | 75.413 | — |
Revenue CAGR 36.6%PAT CAGR 110.9%
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumThe substantial portion of our revenues has been dependent upon our top 10 customers, which accounted for 70.33%, 70.19% and 71.86% of our revenue from operations for Fiscal 2026, Fiscal 2025 and Fiscal 2024 respectively, with whom we do not have any firm commitments.
mediumThe loss of any one or more of our top 10 customers would have a material adverse effect on our business, cash flows, results of operations and financial condition.
Litigation across 397 matters
397 Material civil proceedings filed against the Company. No criminal proceedings or outstanding actions by regulatory and statutory authorities.
Positives the filing discloses (2)
Strong revenue growth
Restated revenue CAGR of 36.6%.
Healthy return on equity
ROE of 28.8%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+26.9%
Listed up
8 of 8
Best
+90.0%
Millworks Technologies
Worst
3.0%
Happy Steels
Caliber Mining and Logistics Limitedsame segment
146.4× sub+18.0%
Sotefin Bharatsame segment
3.8× sub+9.6%
Millworks Technologiessame segment
192.7× sub+90.0%
SBI Funds Management Limitedsame segment
41.6× sub+6.8%
Happy Steelssame segment
72.0× sub+3.0%
Devson Catalystsame segment
203.7× sub+66.2%
Kusumgar Limitedsame segment
127.9× sub+35.8%
IC Electricalssame segment
378.6× sub+67.7%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Alpine Texworld Limited IPO subscribed?
Alpine Texworld Limited is subscribed 1.38× overall (QIB 1.09×, NII 1.09×, retail 1.51×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar.
What are the chances of allotment in the Alpine Texworld Limited IPO?
The retail portion is subscribed 1.51×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 2. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.