Alpine Texworld IPO

About Alpine Texworld IPO

The Alpine Texworld IPO, a mainboard IPO, opens on Tuesday, July 14, 2026 and closes on Thursday, July 16, 2026. The allotment of shares will take place on Friday, July 17, 2026. The credit of shares to the demat account will take place on Monday, July 20, 2026. The initiation of refunds will take place on Monday, July 20, 2026. The listing of shares will take place on Tuesday, July 21, 2026.

The equity shares offered through the IPO are proposed to be listed on the BSE and the NSE.

The offer consists of a fresh issue component. The fresh issue will include 12,024,000 shares aggregating up to ₹126 crores. The total number of shares is 12,024,000 aggregating up to ₹126 crores.

Alpine Texworld IPO's price band is set at ₹100 to ₹105 per share. The lot size for an application is 142. The minimum amount of investment required by a retail investor is ₹14,910 (142 shares) (based on upper price). The lot size investment required by sNII is 14 lots (1,988 shares), amounting to ₹2,08,740, and for bNII, it is 68 lots (9,656 shares), amounting to ₹10,13,880.

Alpine Texworld is a vertically integrated textile manufacturer that spins yarn and weaves it into grey fabric at two adjacent units in Ahmedabad, Gujarat. It was incorporated in February 2016 and commenced production in April 2017, adding spinning capacity in March 2025. Revenue from operations was ₹237.32 crores in FY 25.

Objectives of Alpine Texworld IPO

• Financing the cost of setting up a new Weaving Unit to expand production capabilities to produce Grey Fabric at Ahmedabad, Gujarat, India.
  
• Prepayment or repayment, in part or full, of certain outstanding borrowings.
  
• General corporate purposes.
  

Industry Outlook

India's textile and apparel industry is large and growing fast. It is set to expand from USD 174 billion in FY24 to USD 350 billion in FY30, a compound annual rate of 12.4% driven by rising domestic consumption and export demand. Government schemes such as the Production-Linked Incentive programme and PM MITRA Parks are strengthening the sector's infrastructure and innovation capabilities.

Processing is a major sub-segment. The Indian textile processing industry was valued at USD 159 billion in CY24 and is projected to reach USD 241 billion by CY30, with natural fibres leading the market. Gujarat, where the Company operates, offers one of India's strongest textile ecosystems, spanning cotton farms through to finishing units. As a vertically integrated manufacturer within this cluster, Alpine Texworld is positioned to benefit from the sector's expansion.

About Alpine Texworld

Alpine Texworld was incorporated in February 2016 and began production in April 2017. It is a vertically integrated textile manufacturer that spins yarn and weaves it into grey fabric at two adjacent units in Ahmedabad, Gujarat. The Company commenced spinning operations at its second unit in March 2025, adding upstream capacity to its established weaving business. Its automated looms are sourced from global brands including Toyota. Revenue from operations was ₹237.32 crores in FY 25, up from ₹183.60 crores in FY 24. The Company runs an 820 KW rooftop solar plant installed in January 2024 and a 5.4 MW ground-mounted solar plant added in March 2025. Capacity utilisation reached 89.56% in FY 25, with production of 161.22 lakh metres of fabric.

Strengths of Alpine Texworld

• Alpine Texworld is a vertically integrated textile manufacturer, spinning yarn and weaving it into grey fabric at adjacent units in Ahmedabad, Gujarat.
• The Company operates automated weaving machinery from global brands including Toyota, supporting consistent production quality.
• An 820 KW rooftop solar plant and a 5.4 MW ground-mounted solar plant reduce the Company's dependence on grid power and lower energy costs.
• Capacity utilisation reached 89.56% in FY 25, with fabric output of 161.22 lakh metres.
• The Company has acquired four properties to support the planned expansion of its manufacturing footprint.

Risks of Alpine Texworld Limited

• The top 10 customers generated 70.19% of revenue in FY 25, so losing a major customer would sharply reduce sales.
• The top 10 suppliers accounted for 82.76% of purchases in FY 25, leaving the Company exposed to raw-material supply disruptions.
• About 90.17% of FY 25 revenue came from a single segment, grey fabric, concentrating the business in one product line.
• Manufacturing and sales are concentrated in Gujarat, so any regional disruption could materially affect operations.
• The Company relies on bank credit facilities and carried a debt-to-equity ratio of 3.14 in FY 25, so tighter credit terms would strain working capital.
• Net cash flows from investing and financing activities have been negative in recent years, which could pressure liquidity if the trend continues.

Notes: P/E Ratio for peers is computed based on the closing market price of equity shares on September 19, 2025, divided by the EPS. The P/E for the Company is computed at the Cap Price of ₹105 divided by the Diluted EPS for FY25 (₹3.27).

Source: All financial information for listed industry peers is on a consolidated basis, sourced from the annual results of the respective company for the year ended March 31, 2025, as available on the websites of the stock exchanges. The financial information of the Company is based on the Restated Consolidated and Standalone Financial Information for the year ended March 31, 2025. On May 2, 2025, United Polyfab Gujarat reduced the face value of its shares from ₹10 to ₹1 per share, and its P/E ratio has been derived by adjusting the EPS to account for the stock split.

Anchor Investor Bidding Date: Monday, July 13, 2026

IPO Registrar
KFin Technologies Limited
E-mail: alpine.ipo@kfintech.com
Tel: +91 40 67162222 / 18003094001

Book Running Lead Manager
D and A Financial Services Private Limited

Alpine Texworld Contact Details
Block No 614-1105, Village Paldi, Pirana Miroli Road, Paldi Kankaj,
Ahmedabad, Dascroi, Gujarat, India, 382425
Tel: +91 9725309926
Email: info@aplinetexworld.com

Alpine Texworld Business Model

The company earns its revenue through the manufacture and sale of grey fabric produced at its vertically integrated weaving and spinning facilities in Ahmedabad, Gujarat. It procures processed cotton, spins it into yarn of varying thicknesses through open-end spinning, and weaves the yarn into grey fabric on automated looms. Grey fabric accounted for about 90.17% of revenue in FY 25, and the Company also sells traded goods. Revenue from operations was ₹237.32 crores in FY 25, and the Company supplies primarily to textile customers, with its top 10 customers contributing 70.19% of revenue in that year.

Alpine Texworld Growth Trajectory

Alpine Texworld Limited's Total Income for FY25 was ₹237.66 crores, whereas in FY24 and FY23 it was ₹184.44 crores and ₹238.54 crores, respectively.

The Profit After Tax for FY25 was ₹8.63 crores, whereas in FY24 and FY23 it was ₹4.88 crores and ₹1.51 crores, respectively.

Their EBITDA for FY25 was ₹27.34 crores, whereas in FY24 and FY23 it was ₹20.74 crores and ₹19.02 crores, respectively.

Alpine Texworld Market Position

Alpine Texworld operates two adjacent manufacturing units in Ahmedabad, Gujarat, bringing weaving and spinning under one integrated footprint. Its top 10 customers contributed 70.19% of revenue in FY 25, and its manufacturing and sales base is concentrated in Gujarat.

As of 31 March 2025, the company's Total Income, Profit After Tax, and EBITDA were ₹237.66 crores, ₹8.63 crores, and ₹27.34 crores, respectively.

How to apply for Alpine Texworld IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.