Alpine Texworld IPO will open for subscription on Tuesday, July 14 2026. The company is a Gujarat-based textile company functioning in the weaving and spinning segment, involved in the manufacture and trading of grey fabric and yarn along with sizing of yarns.
The company was registered in February 2016 and commenced operations in April 2017 with its weaving facility located in Manufacturing Unit 1 at Paldi Kankaj, Ahmedabad, having initially installed 48 high-speed Toyota shuttleless air-jet looms and later increasing by 64 looms in August 2018. The company back-integrated into spinning in March 2025 by establishing Manufacturing Unit 2, having four open-end rotor spinning machines.
Here are key things to know about Alpine Texworld ahead of its IPO opening on July 14:
About the company
Alpine Texworld has 112 high-speed Toyota shuttleless air-jet looms located at Manufacturing Unit 1 with an installed capacity of 180 lakh metres of grey fabric per annum; one Karl Mayer sizing machine with an annual capacity of 6,650 MT; and four Saurer open-end rotor spinning machines with an annual capacity of 6,000 MT located at Manufacturing Unit 2. The capacity utilisation of the weaving facility in FY26 was 107.30% and 106.51% in FY25, whereas the spinning facility had a capacity utilisation of 88.50% in its first complete year.
Manufacture of products (mainly Grey Fabric) is the primary revenue-generating segment, generating 97.63% to revenue from operations in FY26, with Grey Fabric generating 96.69%. Revenue is primarily generated from Gujarat, which generated 97.37% of revenue in FY26, with marginal contribution from Uttar Pradesh, Delhi, and Haryana.
The top 10 customers have contributed 70.33% of sales in FY26, out of which 16.09% came from the biggest client. The top 10 suppliers had contributed 82.76% in FY25; however, this ratio decreased to 64.26% in FY26 due to the increase in the company’s spinning capacity, making it less dependent on outside yarn suppliers.
The Indian market for grey cloth (grey fabric), which forms the backbone of the business that Alpine Texworld deals in, is estimated to be worth about 75,951 million square meters in CY25 and is forecasted to reach approximately 99,016 million square meters by CY30, indicating constant growth during the forecast period. Grey cotton fabrics form the bulk of this market, representing about 55% of the total market, followed by polyester and viscose.
The company’s expansion strategy includes the installation of 48 more looms at Proposed Manufacturing Unit 3 from the IPO funds, along with the wider plan to build another spinning & weaving unit through borrowings and accruals. 6 land plots have been purchased for future expansion. Alpine Texworld is ideally positioned to capitalise on the following tailwinds in light of its presence in Ahmedabad, which lies in Gujarat’s cotton and grey cloth heartland, thereby making it easy for the company to get its hands on raw materials at a reduced cost of logistics.
Financial snapshot
| (₹ crore) | FY24 (Standalone) | FY25 (Consolidated) | FY26 (Consolidated) |
|---|---|---|---|
| Revenue | 183.60 | 237.32 | 342.71 |
| Total assets | 149.82 | 294.86 | 305.31 |
| Net profit | 4.88 | 8.63 | 21.72 |
| EBITDA | 19.91 | 27.00 | 47.45 |
Alpine Texworld IPO objective
The money raised from the IPO will be used towards the following objectives:
Setting up a new weaving unit: The company will use ₹30.71 crore for setting up a new weaving unit.
Repayment of borrowings: The company will use ₹52.20 crore for repayment or prepayment of certain borrowings availed by it.
General Corporate Purposes: The company will use some amount for general corporate purposes which shall not exceed 25% of gross proceeds.
Alpine Texworld IPO details
Alpine Texworld IPO aims to raise ₹126 crore through its public issue. The issue is a complete fresh issue of over 1.2 crore shares.
The company has fixed the price band of the issue at ₹100 to ₹105 per share. The lot size, or the minimum bid quantity to apply for the issue, is 142 shares. This equates to a minimum investment amount of ₹14,910 per lot at the upper end of the price band for retail investors.
Alpine Texworld has appointed D&A Financial Services as the book-running lead manager of the IPO, while Kfin Technologies Ltd is the registrar for the issue.
Alpine Texworld IPO: Important dates
Alpine Texworld IPO will remain open for bidding from 14 to 16 July. After the bidding is closed, the allotment of shares is expected to be finalised on July 17.
Successful bidders can expect the shares to be credited to their demat accounts by July 20, with others receiving refunds on the same day. Alpine Texworld shares are scheduled to list on the BSE and NSE on July 21.
Strengths and opportunities
Location within the Gujarat cotton belt: The location within the Gujarat cotton belt, which produces about 73 lakh bales per annum in FY26, assures availability of stable and quality raw material. This will reduce cost variability and will make the business more competitive in the market.
State-of-the-art machinery, imported from across the world: State-of-the-art machines are imported from Toyota and Picanol, which make possible a group weaving capacity of 276 lakh metres with a utilisation of 107.30% in FY26.
Backward integration of yarn production: In-house production of 6,000 MT capacity with a utilisation of 88.50% in FY26 at an adjacent spinning unit will minimise logistics costs and protect margins from raw material cost volatility.
Risks and threats
Customer concentration: The top 10 customers account for 70.33% of the revenue in FY26, that is, ₹241.02 crore, without any concrete commitment, and the loss of significant customers will impact the revenue badly.
Credit downgrade: CRISIL downgraded the long-term rating to ‘BB/Stable’ with the ‘Issuer Not Cooperating’ flag due to surveillance fee-related issues, but CARE independently rated the same as ‘BBB-‘, indicating a similar credit profile.
Geographic and single-product line concentration: 96.69% of revenue from Grey Fabric and 97.37% from Gujarat make the company susceptible to risk specific to the particular product/region.