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The multilateral lender will also mobilise an estimated $4.2 billion in private financing through commercial loans to help households install rooftop solar systems. View More
Alpine Texworld will launch its Rs 126.25 crore Initial Public Offering on July 14, 2026. The company plans to raise funds through a fresh issue of 1.2 crore equity shares. Proceeds will expand manufacturing capacity and reduce existing debt obligations. Funds will also support general corporate requirements and future business growth. The textile manufacturer aims to strengthen its financial position through this public offering. View More
Alpine Texworld Limited, a leading textile manufacturer known for producing high-quality and durable fabrics across multiple industries, is set to enter the capital markets with its Rs 126.25 crore Initial Public Offering. Formerly known as Alpine Spinweave , the company will open its IPO for subscription on July 14, 2026, with the issue closing on July 16, 2026. The IPO has been priced in the range of Rs 100 to Rs 105 per equity share. The company plans to raise funds through a fresh issue of 1.2 crore equity shares, with no offer-for-sale component. The basis of allotment is expected to be finalized on July 17, 2026, while the shares are scheduled to debut on both the National Stock Exchange of India and BSE Limited on July 21, 2026. Retail investors can apply for a minimum of 142 shares and in multiples thereafter. At the upper price band, the maximum retail application will amount to Rs 1,93,830. The IPO price translates into a floor price of 10 times the face value and a cap price of 10.5 times the face value of the equity shares. Live Events Based on diluted earnings per share for FY2026, the company’s price-to-earnings (P/E) ratio stands at 12.22 times at the lower end and 12.84 times at the upper end of the price band. This compares favourably with the average P/E ratio of the industry peer group, which stands at 60.69 times. D&A Financial Services Pvt. Ltd. is the book running lead manager for the issue, while KFin Technologies Ltd. has been appointed as the registrar. How Alpine Texworld Plans to Use IPO Proceeds The company intends to deploy the IPO proceeds towards expanding manufacturing capacity, reducing debt, and supporting general corporate requirements. The proceeds from the IPO will primarily be utilized to support Alpine Texworld’s expansion and financial strengthening initiatives. The company plans to allocate Rs 32.08 crore towards setting up a new weaving unit at its proposed Manufacturing Unit 3 in Ahmedabad, Gujarat , aimed at expanding its grey fabric production capacity. Additionally, Rs 52.20 crore will be used for the prepayment or repayment of existing borrowings, helping reduce the company’s debt burden. The remaining proceeds will be utilized for general corporate purposes, supporting ongoing business operations and future growth initiatives. About Alpine Texworld Limited Founded in 2016, Alpine Texworld operates in the textile sector with expertise in fabric dyeing and processing. The company specializes in manufacturing high-quality textiles and caters to garment manufacturers, traders, and other industry players. The company operates two manufacturing facilities equipped with advanced dyeing and finishing technologies. These units support the production of a wide range of textile products and have a combined installed capacity of approximately 6,000 metric tonnes per year of cotton and blended yarn processing. Beyond textiles, Alpine Texworld has also expanded into renewable energy initiatives. In January 2024, the company commissioned an 820 KW rooftop solar plant at its Unit 1 facility. This was followed by the installation of a 5.4 MW ground-mounted solar project in Banaskantha, Gujarat, in March 2025. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)
After a slow start this year, IPOs worth $50 billion were ready to hit Indian markets. These plans are at risk after the U.S. ended the ceasefire with Iran. View More
In this articleBHARTIARTL-INSSU-FFSKHYRELIANCE-INETERNAL-INSWIGGY-INTRENT-INFollow your favorite stocksCREATE FREE ACCOUNT Hello, this is Priyanka Salve, writing to you from Singapore.Welcome to the latest edition of  "Inside India" â your one-stop destination for stories and developments from the world's fastest-growing large economy.India, one of the world's most prolific IPO markets, was gearing up for issues worth $50 billion as tension in the Middle East were subsiding. But U.S. President Donald Trump's decision to end the ceasefire with Iran on Wednesday poses a major risk to the multiple large IPOs lined up in India.Any thoughts on today's newsletter? Share them with the team. The big story After a slow start in 2026, India, one of the world's busiest markets for public listings, was gearing up for a deluge of stock market offerings worth $50 billion. Plans for multiple large IPOs were announced last month after tensions in the Middle East simmered down.But U.S. President Donald Trump's decision on Wednesday to end the ceasefire with Iran has put these listing plans at risk. Indian markets slumped more than 2%, reacting to Trump's announcement, underscoring the growing significance of geopolitical risks in global financial markets.The relative lack of artificial intelligence-related stocks in India combined with the macroeconomic stress due to the Middle East conflict has already led to a muted performance of Indian equities this year."IPO activity could accelerate in the second half of the year if secondary market conditions improve," Hari Shyamsunder, vice president and senior institutional portfolio manager of India Equities at Templeton Global Investments, told CNBC.IPO issuances would be driven by the "market's ability to absorb new offerings," he added. Vidit Aatrey, chief executive officer of Meesho Ltd., center right, and other attendees during the company's listing ceremony at the National Stock Exchange (NSE) in Mumbai, India, on Wednesday, Dec. 10, 2025. Meesho, an Indian e-commerce platform, surged in its debut in Mumbai on Wednesday, showing growing investor appetite for tech startups after a string of blockbuster listings. Photographer: Dhiraj Singh/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty Images IPO plans under threat IPO activity in India so far in 2026 has lacked the enthusiasm seen in other major markets like the U.S. and Hong Kong. Companies in the U.S. have already raised $128 billion by June across 72 initial public offerings, while those in Hong Kong saw 84 listings raise $27 billion, according to an EY report released on Tuesday.In sharp contrast, IPOs in India have raked in just $4 billion in proceeds through 102 issues, many of which are not listed on the main stock exchange but rather the one for small-and-medium-sized companies. During the first six months, just 31 companies listed on the main exchange, raising just 244 billion rupees ($2.6 billion), according to Mumbai-based IPO intelligence firm Prime Database. This had been set to change.Abhay Laijawala, chief investment officer for India at global investment firm Lighthouse Canton told CNBC's Inside India on Monday that a pipeline of $50 billion worth of IPOs had been expected to hit the Indian markets, leading to a "deluge" of issues. But the ongoing U.S.-Iran conflict could upend those plans. Experts told CNBC that investors need a fair degree of predictability while pricing IPOs and certainty that a listing will yield decent returns. But persistent geopolitical uncertainty and volatility make that process more unpredictable."The Strait of Hormuz being choked did not just choke oil; it strangulated the Indian IPO market," Laijawala said.According to Prime Database, roughly $22 billion worth of IPO issues are in the process of seeking regulatory approval, which could take 2-3 months, while $29 billion worth of issues have already been approved.Among the big companies that have already secured regulatory approval for IPOs are quick commerce firm Zepto and solar photovoltaic manufacturer Avaada Electro. Both issues are estimated to raise around a billion dollars, as per Prime Database.India's largest wireless telecom company Jio Platforms and its biggest bourse, the National Stock Exchange, filed for IPO papers last month and are estimated to raise 377 billion rupees ($3.5 billion) and 300 billion rupees ($3.1 billion), respectively, it said. Walmart-owned digital payments company PhonePe is also awaiting approval to start its listing process.Multiple hospital chains are also part of India's IPO line-up this year, including Singapore sovereign wealth fund Temasek-backed Manipal Health Enterprises, which plans to raise over a billion dollars.For the past two years, Indian IPO markets have seen frenzied activity, luring even multinational companies to list their India business units. Carlsberg India filed papers for an IPO last week, while Coca-Cola's India business unit is also exploring a listing in the country.The Indian economy is transforming as large parts of it are formalizing on the back of widespread adoption of digital technologies and changes in tax structure. A government policy push has led to the rise of new manufacturing industries, while funding from private equity firms has led to the rise of consumer tech companies and scaled-up businesses like hospitals and hospitality chains, experts said.All these businesses are now seeking to list to unlock the next phase of growth. "Several times in the past, strong IPO pipelines have disappeared, and mega IPOs shelved if market conditions are not supportive," Pranav Haldea, managing director of Prime Database, told CNBC."IPOs need stable, if not buoyant markets to balance the risk of new paper," he added. Need to know India fashion retailer Trent's June quarter revenue growth disappoints StreetOne of India's biggest fashion retailers, Trent, reported standalone revenue of 56.66 billion rupees ($595 million) for the quarter ended June, up 19% on year on Monday. The shares of the company tanked over 10% on Tuesday as the revenue growth was lower than expected. Trent operates fast fashion stores primarily in India under the brands Westside and Zudio. Meta's woes deepen in India as child abuse ads on Instagram draw government ireThe Indian has warned of action against two of Meta's three major platforms, WhatsApp and Instagram, within a week, underscoring the growing regulatory risks the U.S. social media giant faces in a key market. On Saturday, the government issued a "stern notice to Meta" over the presence of child abuse material in paid. Meta has a "Zero tolerance policy" for child abuse-related content, a spokesperson for Meta told CNBC in an email. Coming up July 10-11: Prime Minister Narendra Modi to visit New Zealand.July 13: India consumer price inflation data for June. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
BlackSoil has acquired Credit Fair's solar financing business for about ?45 crore, marking its entry into rooftop solar lending as it expands its retail and climate-focused loan portfolio. View More
CANADA - 2026/05/23: In this photo illustration, the CXMT (ChangXin Memory Technologies) logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)Sopa Images | Lightrocket | Getty Images Apple has begun testing DRAM chips from China's state-backed ChangXin Memory Technologies for devices sold within China and is lobbying the U.S government to permit broader use of CXMT's products, the Financial Times reported on Wednesday, citing people familiar with the matter.The company's decision comes as its involvement with Chinese suppliers becomes a sensitive geopolitical issue amid growing U.S. efforts to contain China's tech ambitions. CXMT is poised to become central to Beijing's efforts to build a self-sufficient AI supply chain and is expected to become one of the most profitable technology companies to list in Shanghai, the FT said. It reportedly plans to raise at least 29.5 billion yuan ($4.3 billion) in an upcoming IPO.In 2022, Apple faced significant pushback from U.S. policymakers including then-Senator Marco Rubio, who is now Secretary of State, after exploring the use of Chinese memory suppliers, the FT reported. At least 15 state-owned shareholders collectively hold 36% of CXMT, the report said, adding that many of its private funds also have backing from state-owned limited partners.CXMT is currently the world's fourth-largest producer of DRAM, a memory chip used in a wide variety of products ranging from smartphones to servers, the report said. Its market share is expected to rise to 15% by 2028 from roughly 11% last year, as new production lines come online in the Chinese cities of Hefei, Shanghai and Beijing, the report showed, citing data from SemiAnalysis.Its main global peers in DRAM include Samsung Electronics, SK Hynix, and Micron Technology. While CXMT's capacity is expanding, it is unlikely to immediately flood the market with cheap chips, as its output is largely pre-committed, Ray Wang, a memory analyst at SemiAnalysis, told the FT. Nevertheless, the industry fears a long-term repeat of patterns seen in sectors like solar panels and electric vehicles, where state-backed capacity expansion ultimately led to falling global prices and squeezed foreign rivals, the report said. Reuters previously reported that the U.S. has held off on adding CXMT, AI startup DeepSeek, and over 100 other companies to its trade blacklist, despite them being flagged as national security risks, as the Trump administration seeks to avoid escalating tensions with Beijing.Apple and CXMT did not immediately respond to CNBC's requests for comment. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
The ultra-low prices of electricity during midday (average ?1.11 a kWhr in May) and high igh prices during the nights (?9.71) shows the “stress” View More