Borana Weaves IPO subscribed 149x

Borana Weaves’ IPO opened on Tuesday at a price band of ₹205-216 and the entire offer is a fresh issue without offer-for-sale component

The initial public offering (IPO) of Borana Weaves witnessed a robust response from all category investors, as the issue was subscribed 148.78 times. The ₹145-crore IPO received bids for about 54.98 crore shares against 36.89 lakh shares on offer.

Borana Weaves’ IPO opened on Tuesday at a price band of ₹205-216. The entire offer is a fresh issue without an offer-for-sale component.

The quota for retail investors was subscribed 200.53 times, while the category for non-institutional investors fetched 239.74 times subscription. The portion for Qualified Institutional Buyers (QIBs) attracted bids for 87.21 times subscription.

After Denta Water

The IPO market has been lull, and recent issues such as Ather Energy, Quality Power, and Hexaware were just barely subscribed. Denta Water & Infra was the last issue (January 2025) that saw over 221 times subscriptions. The company intends to use ₹71.35 crore to establish a new manufacturing facility in Gujarat that will increase the production capacity for grey fabric from the IPO proceeds. Besides expanding infrastructure, fresh funds will also help meet working capital requirements and handle other corporate expenses.

Meanwhile, the textile major raised ₹65.2 crore on Monday from 11 anchor investors, including Pink Oal Global Fund, Innovative Vision Fund, Aarth EIF Growth Fund, Saint Capital Fund, Nexus Equity Growth Fund, and Sunrise Investment Trust.

Borana Weaves Ltd, a textile manufacturer based in Surat, specialises in producing unbleached synthetic grey fabric. This fabric is a fundamental material for further processing, such as dyeing and printing, in various industries, including fashion, traditional textiles, technical textiles, home décor and interior design. The company is engaged in the business with the B2B model.

Published on May 22, 2025