INVC NEWS Mumbai – The Borana Weaves Limited, a Surat-based synthetic grey fabric manufacturer, is launching its Initial Public Offering (IPO) on May 20, aiming to raise ₹144.89 crore. The subscription window will remain open until May 22. The issue comprises 67,08,000 fresh equity shares, with no Offer-for-Sale (OFS) component. The price band has been set between ₹205 to ₹216 per share, with each share carrying a face value of ₹10.
IPO Reservation and Investment Details
The IPO allocation is structured with 75% reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors. The minimum lot size is 69 shares, requiring a minimum investment of ₹14,904 from retail participants.
Grey Market Premium (GMP) Status
As per data from InvestorGain, the current GMP for Borana Weaves IPO stands at ₹0, indicating muted interest in the grey market. Analysts expect the listing to occur close to the upper band of ₹216, signaling a flat debut with no significant listing gain anticipated.
Book-Running Lead Manager and Registrar
Beeline Capital Advisors Pvt Ltd is managing the IPO as the Book-Running Lead Manager (BRLM), while Kaffin Technologies Ltd has been appointed as the registrar for the issue.
Important IPO Dates
Anchor Investors Allotment: May 19
IPO Allotment Date: May 23
Refunds Initiate: May 26
Demat Account Credit: May 26
Listing on NSE/BSE: May 27
Company Overview: Borana Weaves Limited
Borana Weaves specializes in producing grey fabric and polyester textured yarn (PTY yarn) in Surat, a textile hub in Gujarat. Its products cater to various segments including fashion wear, traditional textiles, home décor, interior design, and technical fabrics. The company operates three manufacturing units equipped with 15 texturizing machines, 6 warping machines, 700 water jet looms, and 10 folding machines.
Financial Performance
Borana Weaves has witnessed robust growth in recent years.
FY 2022 Revenue: ₹42.30 crore
FY 2023 Revenue: ₹135.40 crore
FY 2024 Revenue: ₹199.10 crore
