New Delhi, July 14 -- The initial public offering (IPO) of Alpine Texworld received a muted response from investors on the first day of bidding, with the issue subscribed just 0.28 times.

By the end of Day 1, the issue had received bids for 34 lakh shares against the 1.20 crore shares on offer, according to exchange data.

Among investor categories, the retail portion was subscribed 0.26 times, while the non-institutional investor (NII) segment was booked 0.31 times. The qualified institutional buyer (QIB) portion was fully subscribed.

The IPO is entirely a fresh issue of 1.20 crore equity shares, with no Offer for Sale (OFS) component. Through the public issue, the company aims to raise Rs.126 crore by offering shares in the price band...