Borana Weaves IPO: Price Band, Financials, Key Dates, GMP And More — All You Need To Know
Borana Weaves shares are proposed to be listed on both the BSE and National Stock Exchange.
Gujarat-based Borana Weaves Ltd.'s initial public offering is scheduled to open on May 20.
The price band for the IPO has been set in the range of Rs 205 to Rs 216 per share. Retail investors can invest in the IPO with a minimum lot size of 69 shares, requiring an investment of at least Rs 14,904. Small non-institutional investors need to apply for a minimum of 966 shares, amounting to an investment of Rs 2,08,656. Big NIIs can invest with a minimum lot size of 4,692 shares, requiring an investment of Rs 10,13,472.
The offering comprises of a fresh issue of 67.08 lakh shares and no offer-for-sale and the textile company is raising Rs 144.89 crore at the upper price band.
Beeline Capital Advisors Pvt. is the sole book running lead manager and Kfin Technologies Ltd. is the registrar to the IPO.
The equity shares are proposed to be listed on both the BSE and National Stock Exchange. The textile company will use proceeds from the IPO for general corporate purposes, funding incremental working capital requirements and to set up a new manufacturing unit for producing grey fabric.
IPO Details
Issue opens: May 20.
Issue closes: May 22.
Issue price: Rs 205-216.
Offer for sale: 70 lakh shares.
Lot size: Minimum 69 shares, and then in multiples thereof.
Business
Borana Weaves is a manufacturer of unbleached synthetic grey fabric and polyester textured yarn. It has three manufacturing units in Gujarat. Its products are used in industries such as traditional textiles, technical textiles and home decor.
Financial Performance
The company reported a 44.7% year-on-year rise in profit to Rs 23.59 crore in financial year 2024 from Rs 16.3 crore in fiscal 2023. Revenue from operations increased 47% year-on-year to Rs 199.05 crore in fiscal 2024 from Rs 135.4 crore in financial year 2023.
For the nine-month period ended Dec. 31, 2024, profit stood at Rs 29.31 crore, while the revenue was reported at Rs 215.71 crore.
Borana Weaves IPO GMP
According to InvestorGain, the latest grey market premium for the Borana Weaves IPO stood at Rs 55 as of 9:45 a.m. on May 20. It indicates a listing price of Rs 271 at a premium of 25.46%.
The GMP saw a slight decline on Monday after being steady at Rs 63 a piece for the last couple of days.
Note: GMP does not represent official data and is based on speculation.
