Alpine Texworld IPO Day 2: Here's GMP, subscription status, other details. Apply or not?

Alpine Texworld's IPO was subscribed 0.32 times on Day 2 of bidding, with the retail segment at 0.30 times, NII at 0.32 times, and QIB portion at 1.00 times. The issue, entirely a fresh issue of 1.20 crore equity shares at a price band of 100 to 105, aims to raise around 126 crore. Grey market premium stood at 10 per share, implying an estimated listing price of about 110, while Swastika Investmart assigned a Neutral rating, citing FY26 valuation at 18.49 times earnings and concerns over sustainability of improved PAT margins.