Latest news with #MangilalAmbalalBorana
News18
24-05-2025
- Business
- News18
Borana Weaves IPO Allotment Out: How To Check Status Online? Know Listing Date, Latest GMP
Last Updated: Borana Weaves IPO allotment, closed on May 22 with 147.85 times subscription, is finalised. Check status on Kfin Technologies' portal or websites of BSE and NSE. Borana Weaves IPO Allotment Today: The Borana Weaves IPO allotment, which closed on May 22 with a whopping 147.85 times subscription, has been finalised. Investors can check the IPO allotment status online on registrar Kfin Technologies Ltd's portal as well as on the websites of BSE and NSE. The IPO, which was open for public subscription between May 20 and May 22, received a 147.85 times subscription, garnering bids for 54,54,99,303 shares as against 36,89,457 shares on offer. The retail and NII participation stood at 200.50 times and 237.41 times, respectively. Its qualified institutional buyer (QIB) category got an 85.53 times subscription. The price of the IPO was fixed at Rs 216 per share. As the IPO allotment has been announced, investors can check the allotment status by following these steps: Step 3: Enter 'application number/ CAF No.', 'Demat Account', or 'PAN number'. According to market observers, unlisted shares of Borana Weaves Ltd are currently trading at Rs 256 apiece, which is Rs 40 or 18.52 per cent premium (GMP) over the IPO price of Rs 216. Its listing is scheduled to take place on May 27 on both NSE and BSE. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Borana Weaves IPO: More Details 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. Most analysts gave a 'subscribe for long-term' call for the IPO, and also for the listing gains. First Published: May 24, 2025, 08:38 IST
News18
23-05-2025
- Business
- News18
Borana Weaves IPO Allotment Today: A Step-By-Step Guide To Check Status Online, Know Latest GMP
Last Updated: Borana Weaves IPO allotment is today, May 23, after a 147.85 times subscription. Check status on Kfin Technologies' portal or NSE's website. IPO price: Rs 216/share. Borana Weaves IPO Allotment Today: The allotment of the Borana Weaves IPO, which closed on May 22 with a whopping 147.85 times subscription, is scheduled to be finalised today, May 23, in the evening. Once finalised, investors will start getting bank debit messages. They can also check the IPO allotment status online on registrar Kfin Technologies Ltd's portal as well as on the websites of BSE and NSE. The IPO, which was open for public subscription between May 20 and May 22, received a 147.85 times subscription garnering bids for 54,54,99,303 shares as against 36,89,457 shares on offer. The retail and NII participation stood at 200.50 times and 237.41 times, respectively. Its qualified institutional buyer (QIB) category got a 85.53 times subscription. The price of the IPO was fixed at Rs 216 per share. The IPO allotment is expected to take place today, May 23, in the evening. Once allotted, investors can check the allotment status by following these steps: Step 2: Select company name by choosing 'Borana Weaves Ltd'. According to market observers, unlisted shares of Borana Weaves Ltd are currently trading at Rs 256 apiece, which is an 18.52 premium (GMP) over the IPO price of Rs 216. Its listing is scheduled to take place on May 27 on both NSE and BSE. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Borana Weaves IPO: More Details 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. Most analysts gave a 'subscribe for long-term' call for the IPO, and also for the listing gains.
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
20-05-2025
- Business
- Mint
Borana Weaves IPO: 10 key risks investors should know before subscribing to the ₹145 crore issue
Borana Weaves IPO has experienced an exceptional response on its first day of bidding, with retail investors driving the issue to be fully subscribed within just a few hours after it opened. The textile manufacturer's initial public offering consists entirely of a new issue of up to 67.08 lakh equity shares, according to the red herring prospectus. Borana Weaves IPO price band is set between ₹205 and ₹216 per share, aimed at raising ₹145 crore. The funds raised from the IPO will be used to cover the expenses of establishing a new manufacturing unit to enhance the production of grey fabric in Surat, Gujarat, as well as to meet additional working capital needs and for general corporate purposes. Reports indicate that Borana Weaves' Chairman and Managing Director, Mangilal Ambalal Borana, mentioned that they have significantly increased their manufacturing capabilities in the synthetic textile sector over recent years. The funds from the IPO will assist in expanding their production infrastructure and fulfilling their working capital requirements. This move is in line with their long-term strategy to scale operations while prioritizing product quality and operational efficiency. Beeline Capital Advisors serves as the book running lead manager, while KFin Technologies acts as the registrar for the offering. Borana Weaves IPO GMP today is +55. This indicates Borana Weaves share price was trading at a premium of ₹55 in the grey market, according to Borana Weaves IPO - Key Risks Here are some of the key risks listed by the company in its Red-Herring Prospectus (RHP): Any inability to secure the necessary approvals, licenses, or permits for the operation of Proposed Unit 4 could negatively impact the company's business, financial status, cash flow, and operational results. As of December 31, 2024, over 98% of the company's revenue comes from customers located in Gujarat, and there are no long-term agreements in place with these customers. Any alterations or cancellations of their purchase orders or their failure to accurately predict demand for the company's products could adversely affect its business, operational results, and financial health. The company has a brief operating history, having started its operations in 2020, and it may struggle to maintain its previous growth rates. The company sources its raw material, POY Yarn, from individuals within the Promoter Group. If this arrangement is terminated or if obligations under this agreement are not fulfilled, it could adversely affect the company's business, financial health, cash flow, and operational outcomes. The company engages in transactions with related parties as part of its regular business activities and cannot guarantee that these transactions will not negatively impact its operational results and financial condition. There is an ongoing legal issue involving one of their Independent Directors. A negative outcome in this matter could adversely affect their reputation, business operations, cash flow, and overall financial health. If they fail to accurately anticipate customer demands and manage their inventory levels effectively, it could negatively impact their operational results, financial stability, and cash flow. The company's business and the demand for their products depend on the success of their customers' offerings to end consumers; any decrease in demand for these end-products could adversely affect their business, operational results, cash flow, and financial health. The business is capital-intensive, and they may need significant financing to support their growth strategies and expansion efforts. Inability to secure additional funding could negatively impact their business, operational results, financial stability, and cash flow. Any delays or defaults in customer payments may lead to an increase in working capital requirements and/or a decrease in the company's profits, which would affect their operations and financial health. Also Read | Borana Weaves IPO: Check out 10 key things to know from RHP before investing
Economic Times
20-05-2025
- Business
- Economic Times
Borana Weaves IPO subscribed 1.8 times on Day 1; GMP points to 25% listing gain— Should you apply?
The initial public offering (IPO) of Borana Weaves was fully subscribed on Tuesday with an overall subscription of 1.79 times as of 11:05 AM on the first day of bidding, indicating a solid start to the nearly Rs 145 crore public offer. ADVERTISEMENT Retail investors led the momentum with their portion subscribed 7.12 times, while the Non-Institutional Investor (NII) category saw 1.82 times subscription. The issue, which opened on May 20, will close on May 22. Listing is expected on May 27. Grey Market Premium Priced in a band of Rs 205 to Rs 216 per share, the IPO is generating investor buzz with a grey market premium (GMP) of Rs 55 as of early Tuesday, May 20. Based on the upper end of the price band at Rs 216, the IPO's estimated listing price is pegged at Rs 271, implying a potential listing gain of 25.46%. Offer structure and key dates The Rs 144.89 crore IPO is a book-built issue comprising a fresh issuance of 67.08 lakh equity shares. The price band is set at Rs 205 to Rs 216 per share. The minimum bid for retail investors is one lot of 69 shares (Rs 14,904 at the upper band), while small NIIs can bid for at least 14 lots (966 shares) at Rs 2,08,656, and big NIIs for 68 lots (4,692 shares) at Rs 10,13,472. The IPO allocation reserves at least 75% of the shares for Qualified Institutional Buyers (QIBs), up to 15% for NIIs, and not more than 10% for retail investors. The anchor book opened on May 19. Beeline Capital Advisors is the book-running lead manager, while Kfin Technologies serves as registrar. ADVERTISEMENT Share allotment is expected to be finalized on May 23, with credits to demat accounts by May 26. Capital to fund expansion ADVERTISEMENT Proceeds from the IPO will be used primarily to establish a fourth manufacturing unit in Surat, augment working capital, and cover general corporate expenses.'The proceeds from the IPO will support the expansion of our production infrastructure and help us address our working capital needs,' said Mangilal Ambalal Borana, Chairman and Managing Director of Borana Weaves. ADVERTISEMENT Financials and business outlook Founded in 2021 and based in Surat, Borana Weaves manufactures unbleached synthetic grey fabric used across fashion, home décor, and industrial applications. The company operates three manufacturing units equipped with 15 texturizing machines, 6 warping machines, 700 water jet looms, and 10 folding Weaves reported revenue of Rs 199.05 crore, EBITDA of Rs 41.17 crore, and PAT of Rs 23.58 crore for FY24. For the nine months ended December 2024, revenue reached Rs 211.61 crore with EBITDA of Rs 46.03 crore and PAT of Rs 29.30 crore. ADVERTISEMENT The company's customer base is concentrated among wholesalers in Gujarat. With the global man-made fiber market expected to grow at 3.7% in 2025, Borana aims to expand its reach in both domestic and export markets. Analyst view Gaurav Garg of Lemonn Markets Desk said the IPO presents an attractive short-term bet, supported by strong listing gain potential, healthy financials, and solid investor interest in the grey market."Borana Weaves' IPO offers a compelling short-term opportunity, with strong listing gain potential driven by robust growth, healthy margins, and attractive GMP. The company's niche positioning and integrated manufacturing give it an edge, but high regional concentration and raw material volatility remain key risks," said Garg."At a P/E of ~17.5x, valuations seem fair, making it a suitable pick for retail and HNI investors looking to capitalize on debut momentum—while long-term investors may want to monitor execution and expansion before committing," said Garg. Also read | Borana Weaves IPO opens for subscription with healthy GMP. Should you bid? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
