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₹105 - 105
Alpine Texworld Ltd
TextilesIPO
₹105 - 105
The Indian textile industry is one of the most diverse and dynamic sectors of the country's economy, encompassing a broad spectrum of segments that reflect both its rich heritage and modern advancements. From age-old natural fibres like cotton, wool, silk, and jute to innovative manufactured fibres and technical textiles, the industry spans the entire value chain including raw material sourcing, spinning, weaving, processing, and garment manufacturing. Each segment plays a vital role in driving exports, generating employment, and contributing to India's global reputation as a leading textile and apparel hub. Together, these segments serve both domestic demand and international markets, blending tradition with technology and artisanry with commercial scale.
Lot142Min Invest₹14,910Face Value₹10Issue Size₹126 CrFresh Issue₹126 CrListing Price₹105CMP₹36
Timeline
14 Jul
Bidding opens
16 Jul
Bidding closes
17 Jul
Allotment
20 Jul
Refund & demat credit
21 Jul
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹126 Cr1.20 Cr shares
Fresh Issue₹126 Cr
Face Value₹10
Lot Size142 shares
ReservationQIB 1% · NII 29% · RETAIL 70%
Application Sizes
Retail₹14,9101-13 lots
sNII₹2,08,740from 14 lots
bNII₹10,13,880from 68 lots
Managers & Registrar
Lead ManagerD and A Financial Services Private Limited
RegistrarKFin Techologies Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group100%68.56%Public0%31.44%
Objects of the Issue
- Proposing 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
- Prepayment or repayment, in part or full of certain outstanding borrowings
- General corporate purposes
Anchor Book
30-day lock-in15-Aug-202690-day lock-in14-Oct-2026
Financials
Profit & Loss
| Financial Year | FY25 | FY26 |
|---|---|---|
| RevenueCr | 237 | 343 |
| Operating ProfitCr | 27 | 47 |
| OPM% | 11.4 | 13.8 |
| PBTCr | 12 | 27 |
| PATCr | 9 | 22 |
| EPS | 3 | 8 |
Balance Sheet
| Financial Year | FY25 | FY26 |
|---|---|---|
| Equity CapitalCr | 26 | 26 |
| ReservesCr | 25 | 47 |
| BorrowingsCr | 166 | 179 |
| Total AssetsCr | 295 | 305 |
Cash Flow
| Financial Year | FY25 | FY26 |
|---|---|---|
| Operating Cash FlowCr | 13 | 34 |
| Investing Cash FlowCr | -95 | -32 |
| Financing Cash FlowCr | 82 | -3 |
| Net Cash FlowCr | 1 | -1 |
Strengths & Risks
Strengths · as stated in the DRHP
- Strategic move to reduce yarn sourcing through backward integration in Manufacturing Unit 2.
- Experienced Promoters with execution capabilities.
- Offsetting power use with solar energy.
Strategies · as stated in the DRHP
- We propose to increase our weaving capacity by installing 48 looms at Proposed Manufacturing Unit 3.
- We have acquired Properties to support the growing need of our business.
- We are converting to alternative source of energy.
Risks · as stated in the DRHP
- Substantial portion of the company's revenues has been dependent upon its top 10 customers for the Fiscal 2026, Fiscal 2025 and Fiscal 2024 which amounted to Rs. 2,410.22 million, Rs. 1,665.85 million and Rs. 1,319.29 million which accounted for 70.33%, 70.19 % and 71.86 % of the company's revenue from operations for the respective years, with whom its does not has any firm commitments. The loss of any one or more of the company's top 10 customers would have a material adverse effect on its business, cash flows, results of operations and financial condition.
- The Company's commenced operations at Manufacturing Unit II without obtaining Consolidated Consent and Authorization (CCA) from Gujarat Pollution Control Board (GPCB) and there is no assurance that similar non-compliances will not occur for its Proposed Manufacturing Unit III. The Company was subject to regulatory scrutiny for delays in obtaining CCA for Manufacturing Unit II and any future lapses, whether due to operational, administrative, or technical reasons, could have a material adverse effect on the Company's business, results of operations, and financial condition.
- The Company and one of its Promoter Group / Group Companies, i.e. Alpine Weaving Private Limited, has extended corporate guarantees aggregating to Rs. 557.50 million to secure the debt facilities availed by the company's Subsidiary. The corporate guarantee constitutes a material contingent liability for the Company. While the Subsidiary has been regular in servicing its debt obligations, there can be no assurance that the Subsidiary will continue to service its debt obligations in a timely manner in the future. Any default by the Company's Subsidiary may result in invocation of the guarantees.
- Any increase in interest rates would have an adverse effect on its results of operations and will expose the Company to interest rate risks.
- The Company's long-term rating was downgraded by CRISIL Ratings Limited from `CRISIL BBB- /Stable' to `CRISIL BB/Stable' and its short-term rating from `CRISIL A3' to `CRISIL A4+' with a remark "Issuer Not Cooperating". Any adverse perception arising from such credit rating or any future downgrade of its credit ratings by a domestic or international credit rating agency may adversely affect the perception of the company's credit profile, increase its cost of borrowings, adversely affect the company's ability to borrow on a competitive basis and have a material adverse effect on its business, financial condition, cash flows and results of operations.
- The company's Subsidiary, Alpine Cottweave LLP and Group Companies, Aarnav Fashions Limited, Aarnav Industries Private Limited, Alpine Weaving Private Limited, Sameep Fabrics Private Limited, Sameep Texfab LLP and One World Texofab Private Limited are in the same line of industry. Besides its Subsidiary, the Group Companies is engaged in different business activities than that of the Company and no non-compete agreements has been executed, which could create conflicts of interest and may also have an adverse effect on its business.