Two major mainboard issues have opened for subscription, SBI Funds Management IPO and Alpine Texworld IPO, giving investors a choice between a small cap textile play and the biggest financial listing of the year. The Alpine Texworld Limited and SBI Funds Management Limited both hit the primary market on July 14, and both will close on July 16.
While Alpine Texworld is a modest Rs.126.25 crore fresh issue from a Gujarat-based textile manufacturer, SBI Funds Management is bringing a Rs. 9,812.91 crore offer for sale.
SBI Funds Management IPO
SBI Funds Management IPO is worth Rs. 9,812.91 crore as an offer for sale of 17.10 cr equity shares of face value Rs. 1 each. Since it is pure OFS, the company will not receive any proceeds from the issues and the entire amount will go to shareholders, which is the State Bank of India and Amundi India Holding to partially sell their stake.
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The stock is proposed to list on both the NSE and BSE, on July 21. The price band has been fixed at Rs. 545 to Rs. 574 per share. The minimum retail investment is Rs. 14,924 which is per lot 26 shares.
Alpine Texworld IPO
On the other hand, Alpine Texworld IPO is worth Rs. 126.25 crore, and unlike SBI Funds Management, it is entirely a fresh issue of 1.20 crore equity shares of face value Rs. 10 each.
The issue also opened on July 14, and will close on July 16 with allotment expected on July 17, 2026, and listing tentatively set for July 21, on both the NSE and BSE. The price band is set at Rs. 100 to Rs. 105 per share, with a lot size of 142 shares. Retail investors need a minimum investment of Rs. 14,910 at the upper price band.
Day 1 Subscription Status Compared
By 1:39 PM on Monday, SBI Funds Management IPO was subscribed 0.44 times overall, with the retail category subscribed 0.47 times, the NII category at 0.71 times and the QIB category at 0.07 times respectively.
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Meanwhile, the Alpine Texworld IPO, by comparison, was subscribed 0.21 times overall at a similar time, with retail demand at 0.18 times, NII demand at 0.29 times, and QIB demand yet to pick up at 0.00 times.
GMP Comparison
As per the latest, grey market premium investors are expecting a listing pop for SBI Funds Management than for Alpine Texworld. As of July 14, SBI Funds Management IPOs last recorded GMP stood at Rs. 100, and an estimated listing price of Rs. 674 against the upper price band of Rs. 574, an expected gain of 17.42%.
Whereas Alpine Texworld IPOs GMP was at Rs. 5 with a listing price of Rs. 110 against the upper price band of Rs. 105, an expected gain of 4.76%.
