Borana Weaves IPO to Close Today

Mumbai, May 22, 2025 — The initial public offering (IPO) of Borana Weaves Ltd. IPO concludes its three-day subscription window today. The issue, which opened on May 20, 2025, has drawn strong interest across investor categories, particularly from retail investors.

As per data from the National Stock Exchange (NSE), the ₹144.89 crore public issue received bids for 10.87 crore shares, compared to the 36.89 lakh shares on offer, resulting in an impressive 29.46 times oversubscription by the end of Day 2.

Strong Investor Participation

Investor enthusiasm has been particularly robust among retail participants, with the retail category being subscribed 77.16 times. Non-Institutional Investors (NIIs) followed closely, subscribing 53.07 times, while Qualified Institutional Buyers (QIBs) placed bids 1.76 times the shares reserved for them.

IPO Details and Pricing

The IPO consists solely of a fresh issue of equity shares, with no offer-for-sale (OFS) component. Shares are offered within a price band of ₹205–₹216 per share. Investors could bid in lots of 69 shares, translating to a minimum investment of ₹14,904 at the upper price band. Retail investors were permitted to apply for up to 13 lots (897 shares), requiring a maximum outlay of ₹1,93,752.

Grey Market Premium Reflects Optimism

Borana Weaves’ unlisted shares are currently commanding a strong premium in the grey market. According to sources tracking the unofficial market, the shares are trading at approximately ₹276 apiece, implying a grey market premium (GMP) of ₹60, or 27.78%, over the IPO’s upper price range. This indicates healthy market sentiment ahead of the stock’s listing.

Listing and Allotment Schedule

The basis of allotment is expected to be finalised on Friday, May 23, 2025, with shares likely to be credited to successful applicants’ demat accounts by May 26. Subject to confirmation from exchanges, Borana Weaves shares are expected to list on the BSE and NSE on Tuesday, May 27, 2025.

Use of IPO Proceeds

The company plans to deploy the net proceeds from the offering to establish a new manufacturing facility for grey fabric in Surat, Gujarat, in order to scale its production capabilities. Additional funds will be directed toward meeting incremental working capital requirements and for general corporate purposes.

Market Response and Analyst Views

Brokerage firms including SMIFS and Anand Rathi have expressed a positive outlook on Borana Weaves’ long-term potential, citing its operational focus and expansion plans. The IPO has received favourable reviews from analysts, contributing to the robust investor response.

About the Company

Borana Weaves Ltd. is a Surat-based textile manufacturer engaged in the production of unbleached synthetic grey fabric, which serves as a base material for processes such as dyeing and printing. The company operates on a B2B model, catering to sectors including fashion, technical textiles, traditional wear, home décor, and interior design.

KFIN Technologies is the official registrar for the IPO, while Beeline Capital Advisors Pvt. Ltd. is acting as the sole book-running lead manager.

As the IPO window closes, investors and market watchers will now turn their attention to the allotment outcome and the upcoming listing performance of this promising textile enterprise.

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.