Borana Weaves IPO: What GMP signals ahead of share listing on BSE, NSE | Stock Market News
Borana Weaves IPO: The initial public offering (IPO) of Gujarat-based unbleached synthetic grey fabric manufacturer Borana Weaves received exceptional demand as it got heavily oversubscribed. Borana Weaves IPO allotment has been fixed and investors now watch out for Borana Weaves IPO listing date.
The public offer was open for subscription from May 20 to May 22. The IPO allotment was fixed on May 23, and Borana Weaves IPO listing date is May 27. The equity shares of Borana Weaves Ltd will be listed on both the stock exchanges – BSE and NSE.
Ahead of the share listing, investors look out for the trends on Borana Weaves IPO grey market premium (GMP) in order to estimate the listing price. Here’s what Borana Weaves IPO GMP today signals.
Borana Weaves IPO GMP Today
Borana Weaves shares are witnessing a decent traction in the unlisted market with a strong grey market premium (GMP). Borana Weaves IPO GMP today is ₹40 per share, according to stock market observers. This means that in the grey market, Borana Weaves shares are trading higher by ₹40 than their issue price.
Considering Borana Weaves IPO GMP today, the estimated Borana Weaves IPO listing price would be ₹256 per share, which is at a premium of 18.52% to the issue price of ₹216 per share.
Borana Weaves IPO Details
The bidding for Borana Weaves IPO commenced on Tuesday, May 20, and concluded on Thursday, May 22. The IPO allotment was finalized on May 23, and Borana Weaves IPO listing date is May 27, Tuesday. Borana Weaves shares will be listed on BSE and NSE.
Borana Weaves IPO price band was fixed at ₹216 per share. The company raised ₹144.89 crore from the IPO which was entirely a fresh issue of 67.08 lakh equity shares.
Borana Weaves IPO was subscribed by a staggering 148.78 times in total. The public issue was booked 200.53 times in the retail category, 87.21 times in the Qualified Institutional Buyers (QIBs) category, and 237.42 times in the Non Institutional Investors (NII) category, NSE data showed.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Borana Weaves IPO, while Kfin Technologies is the IPO registrar.
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