New Delhi, 21 July (H.S.): Shares of fabric dyeing and processing company Alpine Texworld made a flat debut on the stock exchanges on Monday, disappointing investors who had subscribed to its initial public offering (IPO). The company’s shares were issued at Rs 105 apiece under the IPO and were listed at the same price on both the BSE and NSE without any gains or losses.

However, selling pressure after the listing pushed the stock down to its lower circuit level of Rs 99.75 within a short period. As a result, IPO investors suffered a loss of Rs 5.25 per share, or 5 per cent, on the very first day of trading.

The company’s Rs 126.25 crore IPO was open for subscription from July 14 to July 16. The issue received a muted response from investors and was subscribed 1.40 times overall.

The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 1.09 times, while the Non-Institutional Investors (NIIs) category also received 1.09 times subscription. The retail investor portion was subscribed 1.54 times.

Under the IPO, the company issued a total of 1,20,24,000 fresh equity shares with a face value of Rs 10 each. The proceeds raised through the fresh issue will be utilised for setting up a new weaving unit at the company’s manufacturing facility, reducing existing debt and meeting general corporate requirements.

Strong Financial Performance

According to the Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI), Alpine Texworld has shown improvement in its financial performance in recent years.

The company reported a net profit of Rs 8.63 crore in the financial year 2024-25, which increased significantly to Rs 21.72 crore in FY 2025-26.

The company’s total revenue also witnessed growth during the period. Revenue increased from Rs 237.66 crore in FY 2024-25 to Rs 350.18 crore in FY 2025-26.

At the same time, the company’s debt levels increased. Its outstanding borrowings stood at Rs 166.09 crore at the end of FY 2024-25, which rose to Rs 177.60 crore in FY 2025-26.

The company’s net worth improved during the period, rising from Rs 51.13 crore in FY 2024-25 to Rs 72.88 crore in FY 2025-26.

The reserves and surplus also increased from Rs 24.86 crore in FY 2024-25 to Rs 46.32 crore in FY 2025-26.

The company’s total assets witnessed growth as well. Assets increased from Rs 294.86 crore in FY 2024-25 to Rs 305.31 crore in FY 2025-26.

The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) also improved significantly, rising from Rs 27 crore in FY 2024-25 to Rs 47.45 crore in FY 2025-26.

Alpine Texworld operates in the textile manufacturing sector, with a focus on fabric dyeing and processing activities. The company had entered the capital market with the IPO to raise funds for expansion, debt reduction and strengthening its manufacturing capabilities.

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Hindusthan Samachar / Jun Sarkar