Alpine Texworld IPO is a book-built public issue worth ₹126.25 crore, comprising only a fresh issue of 1.20 crore equity shares. There is no Offer for Sale (OFS) in this IPO. The IPO will be open for subscription from July 14 to July 16, 2026. The share allotment is expected on July 17, 2026, while the company’s shares are likely to be listed on the NSE and BSE on July 21, 2026.
The price band has been fixed at ₹100 to ₹105 per share. Investors can apply for a minimum of 142 shares, requiring an investment of ₹14,910 at the upper end of the price band. For sNII investors, the minimum application is 14 lots (1,988 shares), amounting to ₹2,08,740. bNII investors need to apply for at least 68 lots (9,656 shares), requiring an investment of ₹10,13,880.
D&A Financial Services Pvt. Ltd. is the book-running lead manager for the issue, while KFin Technologies Ltd. has been appointed as the registrar. Investors can refer to the Red Herring Prospectus (RHP) for detailed information about the IPO.
Company Overview
Alpine Texworld Limited is a textile manufacturing company based in Ahmedabad, Gujarat, specialising in the production of grey fabric and yarn. Since commencing operations in 2017, the company has steadily expanded its manufacturing capabilities and evolved into an integrated player in the textile value chain.
The company manages both spinning and weaving operations, allowing it to oversee multiple stages of production. It processes cotton into yarn using open-end spinning technology before converting the yarn into grey fabric through high-speed weaving machines. This integrated approach helps improve efficiency, maintain consistent product quality, and optimise manufacturing costs.
Alpine Texworld has expanded its production capacity over the years by adding new weaving looms and establishing a dedicated spinning facility adjacent to its existing manufacturing unit. The proximity of these facilities enables smoother operations and better resource utilisation.
The company has also invested in renewable energy infrastructure through rooftop and ground-mounted solar power plants. These installations help meet a significant portion of its electricity requirements, reduce dependence on conventional power sources, and support cost-efficient manufacturing. By combining manufacturing expansion with sustainable energy initiatives, Alpine Texworld aims to strengthen its operational capabilities and cater to the growing demand from India’s textile industry.
Industry Context
- The global textile industry has grown from USD 1,209 billion in 2019 to an estimated USD 1,518 billion in 2025, driven by rising demand for apparel, home textiles, technical textiles, and sustainable fabric solutions.
- India has one of the world’s largest textile industries, covering the complete value chain from raw materials and spinning to weaving, processing, and garment manufacturing, making it a major exporter and employer.
- India’s strong availability of cotton, silk, wool, jute, and man-made fibres supports a diverse textile ecosystem, while government initiatives such as MITRA, ATUFS, and SITP continue to strengthen industry growth.
- The textile sector serves a wide range of industries beyond fashion, including healthcare, automotive, construction, and home furnishings, creating multiple growth opportunities through technical textiles and innovative fabric applications.
- Increasing global demand, manufacturing expansion, renewable energy adoption, and investments in modern production technologies are expected to support the long-term growth of India’s textile industry and companies operating across the textile value chain.
Business Strengths
- Alpine Texworld manages both spinning and weaving operations, enabling it to produce yarn and grey fabric in-house, improving production efficiency, quality control, and cost management.
- The company’s manufacturing units are located in Ahmedabad, Gujarat, providing easy access to quality cotton, a strong textile ecosystem, and favourable government policies supporting textile businesses.
- Alpine Texworld uses advanced machinery from leading global manufacturers such as Toyota, Picanol, Karl Mayer, and Saurer, helping improve production efficiency, product quality, and manufacturing capacity.
- The company has invested in rooftop and ground-mounted solar power plants with a combined capacity of over 10 MW, reducing dependence on conventional electricity and improving operational efficiency.
- The promoters collectively bring over 60 years of industry experience, supporting business growth through strong customer relationships, operational expertise, and long-term strategic planning.
- The company operates 112 Toyota airjet looms, 4 open-end spinning machines, and a sizing unit, while its subsidiary further expands the group’s overall weaving capacity.
- By producing yarn in-house instead of relying entirely on external suppliers, Alpine Texworld has strengthened supply chain control, reduced raw material dependence, and improved manufacturing efficiency.
- The company has reported consistent growth in revenue and profitability over the last three financial years, reflecting its expanding operations and improving business performance.
Business Risks
- More than 70% of Alpine Texworld’s revenue comes from its top 10 customers. Losing one or more major customers could significantly affect sales, profitability, and cash flows.
- The company previously faced delays in obtaining environmental approvals for its spinning unit. Any future compliance issues or approval delays could impact operations and expansion plans.
- Alpine Texworld and a group company have provided corporate guarantees of about ₹557.5 million for subsidiary borrowings, creating a contingent financial liability for the business.
- A significant portion of the company’s debt carries floating interest rates. Rising interest rates could increase borrowing costs and reduce funds available for business operations and growth.
- Any adverse perception from past credit rating changes or future downgrades could increase borrowing costs and make raising funds more difficult for the company.
- Several promoter group entities operate within the textile industry. Since no non-compete agreements exist, potential conflicts of interest or future competing activities may arise.
- The company acquired land from promoter-related parties for business expansion. Such related-party transactions may attract additional scrutiny from investors and regulators.
- Alpine Texworld plans to add new weaving capacity through a proposed third manufacturing unit. Delays in approvals, construction, or commissioning could affect future growth expectations.
Financial Performance
Alpine Texworld Limited – Financials (₹ in Million) (Restated Consolidated)
| Particulars | Fiscal 2026 | Fiscal 2025 | Fiscal 2024 |
|---|---|---|---|
| Revenue from Operations | 3,427.13 | 2,373.24 | 1,836.03 |
| Total Income | 3,501.79 | 2,376.61 | 1,844.36 |
| EBITDA | 474.48 | 270.00 | 199.06 |
| Profit After Tax | 217.16 | 86.26 | 48.81 |
| Debt to Equity Ratio | 2.35 | 3.14 | 1.80 |
| Return on Capital Employed | 17.56% | 12.18% | 12.12% |
| Return on Equity | 33.85% | 18.08% | 12.17% |
(Source: RHP)
Key Ratios & Metrics
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 33.85% |
| ROCE | 17.56% |
| Debt/Equity | 2.35 |
| RoNW | 29.44% |
| PAT Margin | 6.34% |
| EBITDA Margin | 13.84% |
| Price to Book Value (at the upper price band) | 3.78 |
(Source: RHP)
IPO Details
| Particulars | Details |
|---|---|
| IPO Date | 14 – 16 July, 2026 |
| Allotment | Friday, Jul 17, 2026 |
| Listing Date | Tuesday, Jul 21, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹105 per share |
| Lot Size | 142 Shares |
| Issue Type | Book Building IPO |
| Sale Type | Fresh capital only |
| Total Issue Size | 1,20,24,000 shares (agg. up to ₹126 crore) |
| Fresh Issue | 1,20,24,000 shares (agg. up to ₹126 crore) |
| Shareholding Pre-Issue | 2,62,23,000 shares |
| Listing Exchange | BSE, NSE |
Conclusion
Alpine Texworld IPO offers investors an opportunity to participate in a growing textile manufacturer with an integrated spinning and weaving business, expanding production capacity, and a focus on renewable energy. The company has delivered strong revenue and profit growth while improving key return ratios over recent years.
However, investors should also consider risks such as high customer concentration, elevated debt levels, interest rate sensitivity, and execution challenges related to future expansion. Evaluating the company’s fundamentals, industry outlook, and risk factors alongside individual investment objectives is essential before making an investment decision.
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Disclaimer: Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. This content is purely for informational purposes only and should not be considered as investment advice or a recommendation. Securities quoted are for illustration purposes only and not recommendatory. Investors are requested to do their own due diligence before investing.
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