Latest news with #BoranaWeavesLtd
News18
22-05-2025
- Business
- News18
Borana Weaves IPO Closes Today: Should You Subscribe? Check Day 3 Subscription Status, Latest GMP
Borana Weaves IPO Day 3: The initial public offering of Borana Weaves Ltd, which is going to close today at 5:00 pm, has received a strong response from investors. Till 10:14 am on the final day of bidding on Thursday, the Rs 144.89-crore IPO received a strong 36.72 times subscription, garnering bids for 13,54,92,471 shares as against 36,89,457 shares on offer.
News18
21-05-2025
- Business
- News18
Borana Weaves IPO Day 2: Check Subscription Status, GMP Today
Last Updated: Unlisted shares of Borana Weaves Ltd are currently trading at Rs 268 apiece in the grey market, which is a 24.07 per cent premium or GMP over the IPO price of Rs 216. Borana Weaves IPO Day 2: The initial public offering of Borana Weaves Ltd has received a strong response from investors so far. Till 11:39 am on the second day of bidding on Wednesday, the Rs 144.89-crore IPO received a strong 15.31 times subscription garnering bids for 5,65,01,202 shares as against 36,89,457 shares on offer. The retail and NII participation stood at 44.69 times and 23.17 times, respectively. The qualified institutional buyers (QIB) category has received a 1.59 times subscription on the Day 2 so far. The IPO received a 8.66 times subscription on the first day of bidding on Tuesday, May 20. The bidding will be closed on Thursday, May 22. The price has been fixed at Rs 216 apiece. Borana Weaves IPO GMP Today According to market observers, unlisted shares of Borana Weaves Ltd are currently trading at Rs 268 apiece in the grey market, which is a 24.07 per cent premium or GMP over the IPO price of Rs 216. It indicates a strong listing gains for investors on May 27, the tentative listing date. The shares will be listed on both BSE and NSE. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. The Borana Weaves IPO is entirely a fresh issue of 67.08 lakh shares. Its price has been fixed at Rs 216 per share. For investors, the minimum lot size for an application is 69. The minimum amount of investment required by retail investors Rs 14,145. The minimum lot size investment for small NII is 14 lots (966 shares) amounting to Rs 2,08,656. For big NII, the minimum is 68 lots (4,692 shares) is Rs 10,13,472. Proceeds from the IPO will be utilised to finance the cost of setting up a new manufacturing unit to expand capabilities to produce grey fabric at Surat, Gujarat, funding incremental working capital requirements, and for general corporate purposes. 'Over the past few years, we have grown our manufacturing capabilities in the synthetic textile segment. The proceeds from the IPO will support the expansion of our production infrastructure and help us address our working capital needs. This step aligns with our long-term strategy of scaling operations while maintaining focus on product quality and operational efficiency," Borana Weaves' Chairman and MD Mangilal Ambalal Borana said. Incorporated in 2020, Borana Weaves engaged 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, home decor, and interior design. Beeline Capital Advisors is the book running lead manager and KFin Technologies is the registrar to the issue.
Mint
16-05-2025
- Business
- Mint
Borana Weaves IPO: Check out 10 key things to know from RHP before investing in ₹145 crore issue
Borana Weaves Ltd has set a price range of ₹ 205-216 per share for its forthcoming initial public offering (IPO), which is set to commence on May 20 and conclude on May 22. Bidding for anchor investors will begin on May 19. The allotment basis will be determined on May 23, followed by the initiation of refunds and the crediting of equity shares on May 26. The company's shares are anticipated to be listed on stock exchanges on May 27. The IPO consists entirely of a fresh issuance of 67.08 lakh equity shares. If priced at the upper limit of the band, the total size of the issue will reach ₹ 144.89 crore. Out of the total proceeds, ₹ 71.35 crore will be directed towards establishing a new manufacturing facility in Gujarat to increase production capacity for grey fabric. Here are 10 key things from the Red Herring Prospectus (RHP) that investors might want to know before subscribing to the issue. The company's promoters include Mangilal Ambalal Borana, Ankur Mangilal Borana, Rajkumar Mangilal Borana, Dhwani Ankur Borana, Ankur Mangilal Borana HUF, Rajkumar Mangilal Borana HUF, Mangilal Ambalal Borana HUF, and Borana Filaments Private Limited. According to the RHP, the promoters together own 17,382,795 equity shares, accounting for 87.19% of the pre-issue issued, subscribed, and paid-up equity share capital of the company. There are no listed industry competitors in India or overseas, which could pose challenges in comparing and assessing their financial performance against other firms within the same sector. Borana Weaves Limited runs three production plants in Surat, Gujarat, that are equipped with textile manufacturing technologies for multiple processes, such as texturising, warping, operating water jet looms, and folding textiles. The firm includes several subsidiaries, including R&B Denims Ltd, Ricon Textile Private Ltd, Sachin Paper Mills Private Ltd, Arham Weaves Private Ltd, and Hojiwala Infrastructure Ltd. Borana Weaves has demonstrated substantial growth in the past three fiscal years. In FY 2024, the company reported revenues of ₹ 199.10 crore, marking a considerable increase from ₹ 135.40 crore in FY 2023 and ₹ 42.30 crore in FY 2022. Borana Weaves is based in Surat, Gujarat, and specialises in producing unbleached synthetic grey fabric. This fabric is frequently used as a base for further processing (like dyeing and printing) in industries such as fashion, traditional textiles, technical textiles, home decor, and interior design. As of September 30, 2024, the firm operated a total of 15 texturizing machines, 6 warping machines, 700 water jet looms, and 10 folding machines across its three facilities. India's textile sector, a significant contributor to the global marketplace, achieved textile exports exceeding USD 44 billion in the fiscal year 2022, accounting for approximately 15% of the country's overall export revenue and 4.6% of worldwide textile commerce. The primary exports of the industry include ready-made garments, cotton textiles, and a growing share of man-made fibers. Key markets consist of the United States, the European Union, Bangladesh, the United Kingdom, and the United Arab Emirates. Some of the key risks are as follows; If the necessary approvals, licenses, or permits to operate Proposed Unit 4 are not obtained, it may negatively impact their business, financial status, cash flows, and operational results. As of December 31, 2024, over 98% of their revenue comes from customers in Gujarat, and they lack long-term agreements with these clients. Any alterations or cancellations of purchase orders from these customers, or their inability to accurately predict demand for their products, may negatively affect their business, operational results, and financial health. Any equity shares allocated to anchor investors in the anchor investor segment will be subject to a lock-in period as follows: 50% of the equity shares allocated to each anchor investor will have a 90-day lock-in period starting from the date of allotment, while the remaining 50% will be locked in for 30 days from the date of allotment.
