Alpine Texworld IPO off to a slow start; subscribed 0.28 times on Day 1; GMP indicates modest listing

Alpine Texworld IPO received a muted response on Day 1, subscribed only 0.28 times with retail at 0.26x and NII at 0.31x, while the QIB portion was fully subscribed. The company aims to raise about Rs 126 crore through a fresh issue of 1.20 crore shares at a price band of Rs 100-105, with grey market premium of Rs 5 indicating a likely listing around Rs 110 (4.76% premium). Allotment is expected on July 17 and listing on the BSE and NSE on July 21.