Alpine Texworld is set to list its shares on the Bombay Stock Exchange and National Stock Exchange on Tuesday, July 21, with grey market premiums indicating a flat debut.
The listing follows a subscription period that initially struggled to attract broad investor interest before securing full subscription on the final day of bidding.
The muted grey market signal suggests that the late surge in demand, which pushed the issue to full subscription by 11:00 am on July 16, did not translate into significant speculative upside.
Investors who participated in the IPO are likely to see their capital returned at par, with no immediate capital gains expected on the first day of trading.
The IPO had faced headwinds earlier in the subscription window, with the issue subscribed just 0.28 times on the second day.
The eventual full subscription was driven by a last-minute rush of orders, a pattern often seen in issues where institutional or anchor investors step in to clear the book before the deadline.