Alpine Texworld IPO: Check day 3 subscription status, latest GMP, allotment and more

The initial public offering (IPO) of Alpine Texworld managed to get full subscription from the investors on the third and final day of the bidding process. The issue was overall booked only 28 per cent on day one, while it was subscribed more than 80 per cent on day two.

Alpine Texworld is selling its shares in the price band of Rs 100-105 apiece. Investors can apply for a minimum of 142 shares and its multiples thereafter. It is looking to raise Rs 126 crore via IPO, which is entirely a fresh share sale of up to 1,20,24,000 crore worth Rs 126 crore.

According to the data, the investors made bids for 1,20,24,000 equity shares, or 1.36 times, compared to the 1,63,67,204equity shares offered for the subscription by 3.40 pm on Thursday, July 16, 2026. The bidding for the issue, which kicked-off on Tuesday, July 14, shall conclude today.

The allocation for qualified institutional bidders (QIBs) was subscribed 1.08 times, while the portion reserved for non-institutional investors (NIIs) saw a subscription of 1.09 times. However, the quota set aside for retail investors was booked 1.48 times as of the same time. 

Established in 1992, SBI Funds Management is the largest asset management company (AMC) in India based on assets under management (AUM). It is a joint venture between State Bank of India and Amundi. It offers a wide range of investment products such as equity funds, debt funds, hybrid funds, ETFs, and portfolio management services (PMS). 

Kotak Mahindra Capital, Axis Capital, BofA Securities, HSBC Securities & Capital Markets, ICICI Securities, Jefferies India, JM Financial, Motilal Oswal Investment Advisors and SBI Capital Markets are the lead managers and Kfin Technologies is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE on July 21. 

SBI Funds Management raised a total of 2,662.96 crore from over 100 anchor investors as it allocated 4,63,93,095 shares at Rs 574 apiece. Currently, it is commanding a grey market premium of Rs 100 per share, suggesting a 17 per cent listing pop for the investors.

SBI Funds is the largest AMC in India by QAAUM, with a 15.3 per cent market share as of March 31, 2026. As one of the country's oldest and most established AMCs, the company has consistently delivered strong growth in both revenue and profitability. The issue is valued at a P/QAAUM of 9.3 per cent and a P/E of 38.1 per cent, indicating a fair valuation relative to peers, said Choice Borking.

"Its strategic partnership with Amundi enhances its investment capabilities and international reach, while favorable structural trends such as increasing financialization of household savings, rising SIP adoption, and growing mutual fund penetration are expected to support long-term growth. Considering its market leadership, strong profitability, operational efficiency, and robust long-term growth prospects, we assign 'subscribe' rating to the issue," it added.

SBI Funds Management reported a net profit at Rs 3,067 crore with a revenue of Rs 4,976.11 crore for the financial year ended on March 31, 2026. The company clocked a net profit at Rs 2,540.15 crore with a revenue of Rs 4,236.15 crore for the fiscal year 2024-25. At the current valuations, the company is commanding a total market capitalization close to Rs 1.17 lakh crore.

"We recommend 'subscribe' to the SBIFM IPO, supported by its market leadership, strong distribution network, robust profitability and multiple growth levers. The company is well placed to capitalize on the industry's expected double-digit AUM growth  and strong SIP-led expansion," said Aditya Birla Money.

With a revenue CAGR of 27.7 per cent, PAT CAGR of 21.7 per cent over FY24-FY26 and ROE of 43 per cent in FY26, It has demonstrated strong execution. Rhe stock trades at 38.1 times FY26 earnings, which appears reasonable relative to listed peers, making it an attractive play on India's long-term wealth creation story, it added.

SBI Funds Management has reserved 50 per cent of the net issue for the qualified institutional bidders (QIBs), while non institutional investors (NIIs) will have 15 per cent of the allocation. Retail investors will get 35 per cent of the net offer. Eligible employees of SBI and SBI MF, along with eligible shareholders of SBI also have reservation in this IPO.

Incorporated in February 2016, Ahmedabad-based Alpine Texworld is engaged in dyeing and processing fabrics, focusing on producing high-quality textiles. It has two manufacturing units. The manufacturing facilities are well-equipped for specialized dyeing and finishing, offering a diversified range of products to garment manufacturers and traders.

Brokerages firms largely have a constructive medium- to long-term view on the issue, citing its vertically integrated manufacturing model, capacity expansion plans, improving profitability and investments in solar power. However, they also caution that the textile business remains highly competitive, recent margin expansion may be difficult to sustain, and the IPO valuation appears rich to some. 

For the financial year ended on March 31, 2026, Alpine Texworld reported a net profit of Rs 21.72 crore with a revenue of Rs 350.18 crore. The company clocked a net profit of Rs 8.63 crore with a revenue of Rs 237.66 crore for the financial year 2024-25. At the current valuations, the company commands a market capitalization little more than 400 crore.

Alpine Texworld has not allocated any shares to anchor investors as the company has reserve only 1 per cent share for qualified institutional bidders (QIBs), while non-institutional investors have 29 per cent of the allocation in the IPO. Retail investors will get 70 per cent shares in the IPO.

D&A Financial Services is the sole book running lead manager for the Alpine Texworld and Kfin Technologies is the registrar of the issue. Shares of the company shall be listed on both BSE and NSE on Tuesday, July 21. Last heard, it was commanding a grey market premium of Rs 1-2 apeice, suggesting a flat listing for the investors.