Alpine Texworld’s initial public offering is facing headwinds as investor appetite remains muted entering the final day of bidding.
The issue was subscribed just 0.28 times on the second day of the subscription window, signaling cautious sentiment among retail and institutional participants alike.
Despite the lackluster subscription numbers, the grey market premium (GMP) has held steady at ₹10 per share.
This premium suggests an estimated listing price of approximately ₹110, which would represent a modest upside from the upper end of the price band of ₹105.
The stability in GMP indicates that while demand is soft, speculative interest has not entirely evaporated.
The company, founded in February 2016, is seeking to raise ₹126 crore through the issuance of 1.20 crore equity shares.