Borana Weaves share price jumps 5% after strong debut on Dalal Street; Buy, sell or hold?
Borana Weaves share price made a strong debut in the Indian stock market today, as the stock was listed at a decent premium. Borana Weaves IPO listing date was today, 27 May, and soon after the listing, Borana Weaves shares were locked at 5% upper circuit amid heavy buying.
Borana Weaves shares were listed at ₹ 243 apiece on the BSE and NSE, a premium of 12.50% to the issue price of ₹ 216 per share.
Borana Weaves IPO listing was largely in-line with the Street estimates as indicated by Borana Weaves IPO GMP today and analysts. However, with the uptrend in the stock after the listing, analysts share views on what investors should do now.
Gaurav Garg, Lemonn Markets Desk noted that Borana Weaves shares quickly hit the upper circuit and surged to trade 18% higher on the first day, reflecting strong investor interest and confidence in the company's fundamentals.
'While short-term investors may consider booking profits following the robust listing performance, long-term investors are advised to adopt a wait-and-watch approach. Close monitoring of the company's execution capabilities and progress on expansion plans will be key before taking a long-term position,' said Garg.
Mahesh M. Ojha, AVP Research and Business Development at Hensex Securities recommends short-term investors who entered with a listing gain strategy to consider booking profits in Borana Weaves shares after listing higher.
However, if Borana Weaves stock stabilizes with strong volume, partial holding may also make sense, he added.
'For long-term investors, Borana's fundamentals look promising; integrated operations, margin expansion, and niche positioning give it an edge. At a P/E of ~24x at upper-end price, valuations are reasonable. If the company continues to execute well, especially on expansion, it can be a strong long-term compounder,' Ojha said.
Arun Kejriwal, founder of Kejriwal Research and Investment Services, said that Borana Weaves share price is currently at a premium despite an average debut.
'It is a bit disappointing when looking at the subscription levels, which were quite high; in comparison, the premium seems rather subdued. Nonetheless, with this price short-medium term gains are factored. So, Borana Weaves shares are no longer cheap but upside from this level could be a bit difficult. However, given that it is listed in the Trade-for-Trade segment, there could still be potential for some gains from these levels,' Kejriwal said.
According to Avinash Gorakshakar, Head of Research at Profitmart Securities, Borana Weaves stock price looks attractive for the long term
'Borana Weaves is expected to report a net profit of ₹ 40 crore for FY25. Additionally, with the new unit expected to start by December 2025, we could see strong topline growth in FY26 and FY27 ahead,' Gorakshakar said.
Gujarat-based unbleached synthetic grey fabric manufacturer Borana Weaves launched its IPO on May 20, which concluded on May 22. The IPO allotment was finslised on May 23, and Borana Weaves IPO listing date was today, May 27.
Borana Weaves IPO was entirely a fresh issue of 67.08 lakh equity shares. The company raised ₹ 144.89 crore from the IPO at a fixed price band of ₹ 216 per share.
The public issue was subscribed 148.78 times in total. The IPO was booked 200.53 times in the retail category, while the Qualified Institutional Buyers (QIBs) category was subscribed 87.21 times. The Non Institutional Investors (NII) segment received 237.42 times subscription, as per NSE data.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Borana Weaves IPO, while Kfin Technologies is the IPO registrar.
At 12:10 PM, Borana Weaves share price was still locked in at 5% upper circuit of ₹ 255.10 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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