Latest news with #BoranaWeaves'
India Today
27-05-2025
- Business
- India Today
Borana Weaves IPO: Will it list at a premium? Here's what GMP suggests
Borana Weaves is set to debut on the stock market today, Tuesday, after receiving a strong response during its three-day initial public offering (IPO) process. The listing comes following high investor interest and heavy oversubscription across all investor Borana Weaves IPO opened for subscription on May 20 and closed on May 22. The IPO was subscribed 147.85 times in total. In the retail investor category, the subscription was 200.50 times. Qualified Institutional Buyers (QIBs) subscribed 85.53 times, while the Non-Institutional Investors (NIIs) category saw a subscription of 237.41 company aimed to raise Rs 144.89 crore through a fresh issue of 67 lakh shares. Before the IPO opened to the public, Borana Weaves had already raised Rs 65.20 crore from anchor investors. The price band for the IPO was set between Rs 205 and Rs 216 per IPO received bids for 54,54,99,303 shares, even though only 36,89,457 shares were available for bidding. This strong interest resulted in total bids worth nearly Rs 11,782.78 crore, showing high investor confidence in the MARKET PREMIUM (GMP) TRENDThe grey market premium (GMP), which gives an early idea of listing expectations, has seen a drop recently. As of 7:02 am on May 27, the GMP stood at Rs 43 per share. This is lower than earlier levels, where it had gone up to Rs on the upper end of the price band at Rs 216, the expected listing price could be around Rs 259 per share. This indicates a possible gain of 19.91% on listing. However, the grey market is unofficial and not regulated. Prices there can change quickly, and actual listing levels may vary depending on market mood on the day of Garg from Lemonn Markets Desk said, 'Borana Weaves' IPO has seen resounding success, driven by strong fundamentals, favourable industry dynamics, and solid investor trust across the board. The exceptional subscription figures, especially from NIIs and retail investors, position Borana Weaves as one of the standout IPOs in recent times.'advertisement(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)
Time of India
23-05-2025
- Business
- Time of India
Borana Weaves IPO allotment to be finalised today: Here's how to check status, GMP and listing date
How to Check Borana Weaves IPO Allotment on BSE: Live Events Checking Allotment via KFin Technologies: GMP and listing outlook: About Borana Weaves IPO (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The allotment for Borana Weaves' Rs 145 crore IPO is expected to be finalised today, May 23. Investors who applied for the IPO, which was open from May 20 to May 22, can now check their allotment status through the registrar, KFin Technologies , or on the BSE IPO saw a blockbuster response from investors, with an overall subscription of 148.77 times. The retail portion was subscribed 200.50 times, the NII (HNI) segment saw 237.41 times subscription, while the QIB portion was subscribed 87.21 times. The overwhelming demand indicates strong investor interest in the textile sector and confidence in Borana Weaves' business are expected to be credited to successful bidders' demat accounts by May 26, with refunds to unallotted investors also likely to be processed on the same day. The stock is set to debut on BSE and NSE on May the BSE website: Select 'Equity' and choose 'Borana Weaves' from the dropdown menuEnter your application number or PANClick 'Search' to view the allotment statusVisit: Select 'Borana Weaves IPO'Enter your PAN, application number, or client IDClick 'Submit' to check your statusAs of the last update, the grey market premium (GMP) for Borana Weaves IPO was around Rs 60, indicating a possible listing price of Rs 276 against the issue price of Rs 216 — a potential listing gain of 27%.The IPO was entirely a fresh issue of 67.08 lakh shares. Funds raised will be used to set up a new manufacturing unit, meet working capital needs, and for general corporate purposes.: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)
Economic Times
23-05-2025
- Business
- Economic Times
Borana Weaves IPO allotment to be finalised today: Here's how to check status, GMP and listing date
The allotment for Borana Weaves' Rs 145 crore IPO is expected to be finalised today, May 23. Investors who applied for the IPO, which was open from May 20 to May 22, can now check their allotment status through the registrar, KFin Technologies, or on the BSE website. ADVERTISEMENT The IPO saw a blockbuster response from investors, with an overall subscription of 148.77 times. The retail portion was subscribed 200.50 times, the NII (HNI) segment saw 237.41 times subscription, while the QIB portion was subscribed 87.21 times. The overwhelming demand indicates strong investor interest in the textile sector and confidence in Borana Weaves' business model. Shares are expected to be credited to successful bidders' demat accounts by May 26, with refunds to unallotted investors also likely to be processed on the same day. The stock is set to debut on BSE and NSE on May 27. Visit the BSE website: 'Equity' and choose 'Borana Weaves' from the dropdown menu ADVERTISEMENT Enter your application number or PANClick 'Search' to view the allotment status ADVERTISEMENT Visit: 'Borana Weaves IPO' ADVERTISEMENT Enter your PAN, application number, or client IDClick 'Submit' to check your status ADVERTISEMENT As of the last update, the grey market premium (GMP) for Borana Weaves IPO was around Rs 60, indicating a possible listing price of Rs 276 against the issue price of Rs 216 — a potential listing gain of 27%. The IPO was entirely a fresh issue of 67.08 lakh shares. Funds raised will be used to set up a new manufacturing unit, meet working capital needs, and for general corporate purposes. (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
22-05-2025
- Business
- Economic Times
Borana Weaves IPO subscribed 55 times on Day 3: Check GMP, price band and other details
Borana Weaves' IPO witnessed an overwhelming response, being subscribed 55.11 times on its final day, driven by strong retail and non-institutional investor demand. The IPO price was fixed between Rs 205 and Rs 216 per share. The Surat-based textile company plans to use the IPO proceeds for expansion and working capital needs, with a tentative listing date of May 27. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Borana Weaves IPO price band Borana Weaves IPO key dates and book running lead managers About Borana Weaves The initial public offering (IPO) of Borana Weaves, which opened for subscription on Tuesday, has been subscribed 55.11 times on the third and final day of the bidding of 11:51 AM, the issue had received bids for 20,33,32,305 shares, representing a 55.11 times subscription. The highest demand was driven by the retail investors subscribing to the issue by 122.74 times, followed by the non-institutional investors (NIIs), who subscribed the issue by 116.02 times. The qualified institutional buyers (QIBs) subscribed 2.12 times to the GMP of Borana Weaves is currently Rs 54-55 in the unlisted markets, which indicates a premium of 25% over the issue IPO is priced between Rs 205 and Rs 216 per share, with a minimum lot size of 69 shares for retail investors. At the upper end of the price band, the minimum investment required by retail applicants is Rs 14,904. The bidding window will remain open until Thursday, May Capital Advisors is the sole book-running lead manager, while KFin Technologies is acting as the registrar for the issue. The shares are proposed to be listed on both BSE and NSE, with a tentative listing date of May in 2020, Borana Weaves is a Surat-based textile company specialising in unbleached synthetic grey fabric and polyester textured yarn (PTY yarn). It serves various sectors such as fashion, traditional textiles, home décor, and technical textiles. The company operates three manufacturing units equipped with advanced technology, including 700 water jet looms, enabling robust production proceeds from the IPO are planned to be used for establishing a new grey fabric manufacturing unit in Surat, addressing additional working capital requirements, and supporting general corporate the financial front, Borana Weaves reported a strong performance for the nine-month period ending December 2024, with revenues of Rs 215.71 crore and net profit of Rs 29.31 crore. The company's robust growth, along with improving sector sentiment, has driven optimism around the IPO.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Mint
22-05-2025
- Business
- Mint
Borana Weaves IPO Day 3 LIVE: GMP, subscription status to review. Apply or not?
Borana Weaves IPO: Bidding for the Initial Public Offering (IPO) of Borana Weaves Limited opened on 20 May 2025 and will remain open until 22 May 2025. This means investors have just one day to apply for the Borana Weaves IPO. The book build issue has received a strong response from the primary market investors in the first two days of bidding. According to the Borana Weaves IPO subscription status, the public issue has been booked over 29 times in the first two days. The Indian grey market is also bullish on Borana Weaves shares, trading at a premium of ₹ 61 per equity share. According to stock market observers, Borana Weaves' IPO GMP (Grey Market Premium) today is ₹ 61, which is ₹ 5 higher than Wednesday's GMP of ₹ 56 apiece. Experts said that positive sentiments on Dalal Street could be the reason for the rise in the grey market sentiments on Borana Weaves' IPO. They predicted further upside on the grey market sentiment if the Indian stock market continues to trade upside on the subsequent two sessions of the week. In the first two days of bidding, the book build issue was subscribed 29.46 times. The retail portion of the public offer was filled 77.16 times, the NII segment was booked 53.07 times, and the QIB portion was subscribed 1.76 times. Infographic: Courtesy mintgenie Giving a 'subscribe' tag to the public issue, Gaurav Goel, Founder & Director at Fynocrat Technologies, said, "Borana Weaves offers a compelling growth story in the synthetic textile sector. The company can scale profitably with a vertically integrated model, high-capacity utilization, and efficient water jet loom technology investment. While the IPO is priced fairly based on future earnings (with an estimated P/E of 14.7x for FY25), meaning it's not cheap, the company's strong fundamentals and positive industry trends support a favourable long-term outlook. Investors with a long-term horizon may consider subscribing to this IPO." INDSEC Securities has also assigned a 'subscribe' tag to the book build issue: "At an upper price band of ₹ 216, Borana Weaves is valued at a PE of 24.4x on FY24 earnings vs Industry peer set average PE of 35x. The company manufactures specialized synthetic grey fabric and polyester-textured yarn. The demand for polyester in India is projected to grow from 4 Mnt to 6.7 Mnt by 2025. Also, the global end-use market for artificial fibres will expand by 3.7% by 2025. Over FY22-24, the company's Revenue/EBITDA/APAT has registered a CAGR of 116.8%/182.1%/262.1%, respectively. Within 9M of FY25, revenue has already surpassed FY24 reported revenue, owing to scale in capacity utilisation of unit 3, which got commercialised in Q4 FY24. Through IPO proceeds, the company intends to set up a new manufacturing unit to reach a 346 million meters per annum capacity and continue capitalising on the growing demand for synthetic fabric. Additionally, foraying into producing high-margin technical textiles is expected to improve business margins further. In FY24, the company's ROE and ROCE were at 49.5% and 24.3%, respectively. We have a "Subscribe" rating for the IPO on account of strong industry growth tailwinds, higher capacity utilisation (>75%) in the existing facility, coupled with the new facility and diversifying into high-margin products." 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.
