Borana Weaves IPO Opens today

Mumbai, 20 May 2025 – Borana Weaves Ltd, a Surat-based textile manufacturing company, has opened its initial public offering (IPO) today, with the price band set between ₹205 and ₹216 per share. The ₹145-crore issue comprises a fresh offering of 67.08 lakh equity shares. Investors can place bids for a minimum of 69 shares and in multiples thereafter.

As part of the IPO allocation structure, up to 75 per cent of the issue is earmarked for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs), and the remaining 10 per cent for retail individual investors.

The company plans to utilise ₹71.35 crore from the proceeds to establish a new manufacturing unit in Gujarat aimed at expanding its grey fabric production capacity. The remaining funds will be directed towards meeting working capital requirements and general corporate purposes.

Ahead of the public offering, Borana Weaves has successfully raised ₹65.2 crore from 11 anchor investors. Among the institutional investors that participated are Pink Oal Global Fund, Innovative Vision Fund, Aarth EIF Growth Fund, Saint Capital Fund, Nexus Equity Growth Fund, and Sunrise Investment Trust. The company has allotted 30,18,543 equity shares to these investors at the upper price band of ₹216 per share.

Founded in 2020, Borana Weaves specialises in the production of unbleached synthetic grey fabric, a base textile material used in downstream applications such as dyeing, printing, and finishing across industries including apparel, home décor, and technical textiles. The company operates on a B2B model and primarily supplies to other businesses involved in fabric processing.

Production at its first manufacturing unit began in 2021 at the Hojiwala Industrial Estate in Surat. Since then, the company has expanded its footprint to operate three manufacturing units within Gujarat, equipped with facilities for texturising, warping, water-jet weaving, and textile folding processes.

The company also produces polyester textured yarn, a key input in grey fabric manufacturing. Its operations are backed by a workforce of 666 employees as of December 31, 2024. Capacity utilisation has averaged around 80 per cent since the financial year 2022–23, indicating consistent operational throughput.

Borana Weaves’ decision to invest in new infrastructure comes at a time when demand for base fabrics remains strong across domestic and export markets. The proposed new facility is expected to strengthen its production capabilities and improve supply chain efficiencies.

Beeline Capital Advisors is acting as the sole book-running lead manager for the IPO.

Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. Please read the offer documents carefully before investing. Investments are subject to market risks and other risks. There is no guarantee of the actual returns that will be given.