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Borana Weaves shares make positive D-Street debut, list at 12% premium
Borana Weaves IPO listing today: Shares of Borana Weaves made a positive debut on the exchanges on Tuesday, May 27, 2025. The company's shares listed at ₹243 apiece on BSE and NSE, reflecting a premium of ₹27 or 12.5 per cent over the issue price of ₹216.
However, the listing price of Borana Weaves was slightly below grey market estimates. Ahead of the listing, unlisted shares of Borana Weaves were trading at ₹259, commanding a grey market premium (GMP) of ₹43 or 19.9 per cent apiece, according to sources tracking unofficial markets.
Borana Weaves IPO details
Borana Weaves IPO received a solid response from investors, with the issue being oversubscribed by over 148.7 times. The portion reserved for non-institutional investors (NIIs) was oversubscribed by 237.42 times, Retail investors' portion was subscribed 200.5 times, and Qualified institutional buyers (QIBs) at 87.21 times.
The ₹144.89-crore mainline IPO was an entirely fresh issue of 6.7 million equity shares. The company set the IPO price band in the range of ₹205 to ₹216. The public issue opened for subscription on Tuesday, May 20, 2025, and closed on Thursday, May 22, 2025.
According to the Red Herring Prospectus (RHP), the company aims to utilise the net issue proceeds to finance a new grey manufacturing unit in Surat, Gujarat, fund incremental working capital, and general corporate purposes.
About Borana Weaves
Incorporated in 2020, Surat-based Borana Weaves is involved in the manufacturing and marketing of unbleached synthetic grey fabrics, catering primarily to the B2B segment. It specialises in manufacturing unbleached synthetic grey fabric, a key input for dyeing, printing, and finishing across industries like fashion, traditional technical textiles, interior design and home décor. It also produces polyester textured yarn (PTY), derived from polyester oriented yarn (POY), which is used in grey fabric production, ensuring vertical integration within its textile operations. The company operates three manufacturing units in Surat, Gujarat, equipped with textile manufacturing technologies for, inter alia, texturising, warping, water jet looms, and textile folding. As of December 31, 2024, the company had a total of 15 texturising machines, six warping machines, 700 water jet looms and 10 folding machines active at its three units.
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