| Price | Lot Size | Issue Date | Issue Size |
|---|---|---|---|
| ₹100 to ₹105 | 142 | 14th July, 2026 – 16th July, 2026 | ₹126 Cr |
Alpine Texworld Limited
Alpine Texworld Limited is a vertically integrated textile manufacturer engaged in the production of cotton yarn and grey fabric, catering primarily to textile processors, fabric traders and garment manufacturers in India. The company operates across the spinning, sizing, and weaving value chain through two manufacturing facilities in Ahmedabad, Gujarat, with an annual installed capacity of 180 lakh metres of grey fabric, 6,650 metric tonnes of yarn sizing and 6,000 metric tonnes of yarn, supported by 10.3 MW of captive solar power capacity to improve energy efficiency and lower operating costs. The acquisition of a 97% stake in Alpine Cottweave LLP has further strengthened its integrated manufacturing capabilities by adding 96 lakh metres of annual weaving capacity while contributing 35.9% to consolidated revenue in FY26. The company predominantly manufactures grey fabric used in downstream processing for denim, shirting, and suiting applications, with grey fabric contributing 96.7% of FY26 revenue, while the remaining revenue is derived from yarn, trading activities, yarn sizing services and other operating income. Manufacturing activities accounted for 97.6% of revenue from operations during FY26, highlighting the company’s manufacturing-led business model. Alpine follows a B2B model, supplying primarily to customers located in Gujarat, which contributed 97.4% to FY26 revenue, leveraging its presence in one of India’s largest textile manufacturing clusters. The company is currently developing its proposed manufacturing Unit 3 to support future capacity expansion and strengthen its position within the domestic textile value chain.
Objective of Alpine Texworld Limited
The company proposes to utilize the proceeds from the issue towards the following objects:
- Proposing to finance the cost of setting up a new weaving unit at proposed manufacturing Unit 3 to expand its production capabilities to produce Grey Fabric at Ahmedabad, Gujarat, India;
- Prepayment or repayment, in part or full of certain outstanding borrowings; and
- General corporate purposes.
Rationale To Alpine Texworld Limited
Investment Rationale
Integrated Manufacturing Footprint Supported by Gujarat’s Textile Ecosystem
The company has established a strong competitive position in the power transmission and distribution value chain through its integrated manufacturing and EPC business model. According to a CRISIL Report, the company is among the leading manufacturers of power cables and conductors in East India, with an installed manufacturing capacity of 85,448 MT as of FY26. Its scale, coupled with over three decades of operating experience, enables it to serve a diverse customer base comprising Indian Railways, state DISCOMs, government utilities, private EPC contractors, and international customers. The company’s backwards-integrated manufacturing operations, supported by in-house production of key raw materials such as aluminium wire rods and XLPE/PVC compounds, improve cost efficiency, supply chain reliability and quality control while reducing dependence on external suppliers. Its RDSO approvals, NABL-accredited testing facilities and adherence to BIS and international quality standards further strengthen its competitive positioning in a sector where product qualification and execution capabilities remain critical. The integrated manufacturing-EPC platform creates meaningful operating synergies by enabling internal sourcing of cables and conductors for infrastructure projects, improving execution efficiency and enhancing bidding competitiveness. With the Indian wires and cables industry expected to grow at an 11-13% CAGR between FY25 and FY30, . supported by increasing investments in power transmission, railway electrification, smart grids and distribution infrastructure, the company is well positioned to benefit from favourable industry tailwinds through its established manufacturing scale, diversified product portfolio and integrated execution capabilities.
Backward Integration and Operational Efficiencies to Drive Sustainable Growth
The company is well positioned to benefit from the growing demand for grey fabric through its integrated manufacturing platform and strategic presence in Ahmedabad, Gujarat, one of India’s largest textile manufacturing clusters. Gujarat accounts for a significant share of India’s cotton production, providing ready access to high-quality raw materials, an established supplier base and a well-developed textile ecosystem. The company’s manufacturing facilities are equipped with advanced machinery from global manufacturers such as Toyota, Karl Mayer, Saurer and Picanol, enabling efficient production across spinning, sizing and weaving operations. This integrated manufacturing setup, coupled with its proximity to customers and suppliers, supports operational efficiencies while enabling the company to cater to the domestic textile value chain. With the Indian textile industry expected to benefit from rising domestic consumption, export opportunities, and supportive government policies, the company is well placed to capitalize on structural growth in the grey fabric segment.
Valuation of Alpine Texworld Limited
Alpine Texworld Limited is a vertically integrated textile manufacturer engaged in the production of cotton yarn and grey fabric, with manufacturing capabilities spanning spinning, sizing, and weaving. The company primarily caters to the domestic textile value chain and has established a strong presence in Ahmedabad, Gujarat, one of India’s largest textiles manufacturing clusters, providing access to abundant cotton, an established supplier ecosystem, and a favourable operating environment. Over the years, the company has strengthened its manufacturing platform through backward integration into yarn production, expansion of weaving capacity through the acquisition of Alpine Cottweave LLP and investments in captive solar power, positioning it to improve operational efficiencies and support future capacity expansion. Financially, the company has demonstrated a healthy growth trajectory, with revenue from operations increasing at a 37% CAGR during FY24-FY26 to Rs. 343 crores. Operating leverage and an improving product mix supported EBITDA growth at a 54% CAGR, while PAT registered a robust 111% CAGR over the same period. Consequently, EBITDA margin improved from 10.8% in FY24 to 13.8% in FY26, while PAT margin expanded from 2.7% to 6.3%. The company has also delivered a meaningful improvement in return ratios, with ROE increasing from 11.5% in FY24 to 28.8% in FY26, reflecting better profitability and efficient capital utilization. At the upper price band of Rs. 105, the issue is valued at a P/E multiple of 12.8x based on FY26 diluted EPS of Rs. 8.2. Considering the company’s integrated manufacturing platform, strategic presence in Gujarat’s textile ecosystem, ongoing capacity expansion, improving profitability and healthy return ratios, we believe the valuation is reasonable. Accordingly, we assign a ‘SUBSCRIBE’ rating to the issue.
What is the Alpine Texworld Limited IPO?
The initial public offer (IPO) of Alpine Texworld Limited offers an early investment opportunity in. A stock market investor can buy Alpine Texworld Limited IPO shares by applying in IPO before All Alpine Texworld Limited shares get listed at the stock exchanges. An investor could invest in Alpine Texworld Limited for short term listing gain or a long term.
How to apply for the Alpine Texworld Limited IPO through StoxBox?
To apply for the Alpine Texworld Limited IPO through StoxBox one can apply from the website and also from the app. Click here
When will the Alpine Texworld Limited IPO open?
Alpine Texworld Limited IPO is opening on 14th July 2026. Apply Now
What is the lot size of the Alpine Texworld Limited IPO?
The Lot Size of Alpine Texworld Limited 142 equity shares. Login to your account now.
When is the Alpine Texworld Limited IPO allotment date?
The allotment Date for Alpine Texworld Limited IPO is 17th July 2026. Login to your account now.
When is the Alpine Texworld Limited IPO listing date?
The listing Date for Alpine Texworld Limited is 21st July 2026. Login to your account now
What is the minimum investment required for the Alpine Texworld Limited IPO?
In the Retail segment the minimum investment required is Rs 14,910 Login to your account now
What is the maximum investment allowed for Alpine Texworld Limited IPO?
In the Retail segment the maximum investment requirement Rs 1,93,830 Login to your account now
What are the risks associated with investing in the Alpine Texworld Limited IPO?
- The company derives a significant portion of its revenue from its top 10 customers, which contributed 70.3% to FY26 revenue. Since these customer relationships are not backed by long-term contractual commitments, loss of any major customer could adversely impact its revenue and profitability.
- The company’s manufacturing facilities and customer base are highly concentrated in Gujarat, which accounted for 97.4% of FY26 revenue. Any adverse developments in the region, including economic slowdown, regulatory changes, natural calamities, or disruptions to the local textile ecosystem, could materially impact its operations and financial performance.
- The company’s long-term and short-term credit ratings were downgraded by CRISIL to ‘BB/Stable’ and ‘A4+’, respectively, with the remark “Issuer Not Cooperating.” Any adverse perception arising from the downgrade or any further deterioration in its credit rating could increase borrowing costs, limit access to financing and adversely impact its financial flexibility.
When will the Alpine Texworld Limited IPO shares be credited to my Demat account?
The Alpine Texworld Limited will be credited to the account on allotment date which is 17th July 2026. Login to your account now
Where can I find the Alpine Texworld Limited IPO prospectus?
The prospectus of Alpine Texworld Limited IPO prospectus can be found on the website of SEBI, NSE and BSE
