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Borana Weaves IPO opens on May 20: check price band, lot size, key dates
Borana Weaves IPO: The initial public offering (IPO) of the manufacturer of unbleached synthetic grey fabric, Borana Weaves, is scheduled to open for public subscription on Tuesday, May 20, 2025, while the bidding for the anchor investors is scheduled to take place on May 19. Through this public issue, Borana Weaves aims to raise ₹144.89 crore.
As investors await the subscription window to open for the Borana Weaves IPO, here are some key details taken from its Red Herring Prospectus (RHP):
Borana Weaves IPO issue size
The public issue of Borana Weaves is a book-built issue comprising an entirely fresh issue of 6.7 million equity shares, aggregating up to ₹144.89 crore. The public offering does not have any offer-for-sale (OFS) component.
The company has reserved not less than 75 per cent of the net offer for qualified institutional buyers, not more than 10 per cent for retail investors, and not more than 15 per cent for non-institutional investors.
Borana Weaves IPO lot size, price band
Borana Weaves IPO will be available at a price band of ₹205–216 per share. The lot size for the public issue is 69 shares. Accordingly, investors can bid for a minimum of 69 shares of Borana Weaves and in multiples thereof.
Borana Weaves IPO allotment date, listing date
The public offering will remain available for subscription till Thursday, May 22, 2025. Following that, the basis of allotment of Borana Weaves shares is likely to take place on Friday, May 23, 2025, with the shares being credited into demat accounts on Monday, May 26, 2025.
Shares of Borana Weaves are scheduled to debut on the BSE and NSE on Tuesday, May 27, 2025.
Borana Weaves IPO registrar details
KFIN Technologies is the registrar for the Borana Weaves IPO, while Beeline Capital Advisors is the sole book-running lead manager.
Borana Weaves IPO objective
The company seeks to use the net proceeds from the public issue to finance the cost of establishing a new manufacturing unit to expand its production capabilities to produce grey fabric in Surat, Gujarat, India. The company will further use the IPO proceeds for funding incremental working capital requirements and general corporate purposes.
About Borana Weaves
Borana Weaves is a textile manufacturer based in Surat, specializing in the production of unbleached synthetic grey fabric. This fabric serves as 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. In addition to grey fabric, the company also manufactures polyester textured yarn (PTY Yarn), which is produced by heating polyester oriented yarn (POY Yarn), its raw material used in the production of grey fabric.
Borana Weaves financial details
In the financial year 2023–24 (FY24), the profit attributable to the owners of the company rose 44.66 per cent year-on-year (Y-o-Y) to ₹23.58 crore from ₹16 crore reported in FY23. For the nine-month period ended on December 31, 2024, it stood at ₹29.30 crore.
The company's revenue jumped 47 per cent Y-o-Y to ₹199.1 crore in FY24 from ₹135.4 crore reported a year ago. For the nine-month period ended on December 31, 2024, the company's revenue stood at ₹211.61 crore.
Borana Weaves' total expenditure also rose to ₹171.21 crore in FY24, up 48.1 per cent from ₹115.6 crore reported in FY23. It stood at ₹179.39 crore for the nine-month period ended on December 31, 2024.
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