Borana Weaves IPO opens May 20 with a price band of ₹205–216. Grey market premium of ₹55 indicates potential listing gains over 25%. Issue closes May 22; listing expected May 27.
The much-anticipated initial public offering (IPO) of Borana Weaves, a Surat-based textile manufacturer, is set to open on May 20, 2025. Investors are closely watching this issue as early signals from the grey market suggest attractive listing gains.
IPO Details and Price Band
Borana Weaves has set its price band between ₹205 and ₹216 per equity share. According to grey market trends, the IPO commands a premium of around ₹55 per share, indicating potential listing gains exceeding 25% for successful applicants. If this premium holds, investors could see profits of approximately ₹3,795 per lot (with each lot comprising 69 shares).
The issue will remain open for three days, closing on May 22, 2025. Borana Weaves aims to raise about ₹144.89 crore through a fresh issue of 67.08 lakh shares. Post-issue, the company’s market capitalization is estimated at around ₹575.54 crore.
About Borana Weaves
Founded in 2020, Borana Weaves specializes in manufacturing unbleached synthetic grey fabric, a versatile material widely used in fashion, traditional and technical textiles, and home décor industries. The company has shown promising growth, posting a net profit of ₹29.31 crore on revenues of ₹215.71 crore for the nine months ended December 2024. For the full fiscal year 2024, it reported profits of ₹23.59 crore on revenues of ₹199.90 crore, reflecting steady momentum.
Investor Allocation and Listing
The IPO’s investor allocation follows the standard pattern:
- 75% for Qualified Institutional Buyers (QIBs)
- 15% for Non-Institutional Investors (NIIs)
- 10% for Retail Investors
The anchor book will open a day before the IPO, on May 19, 2025. Share allotment is expected to be finalized by May 23, 2025, and the shares are likely to list on both the NSE and BSE on May 27, 2025.
Beeline Capital Advisors is the sole book-running lead manager for the issue, while Kfin Technologies serves as the registrar.
With strong grey market premiums and solid financials, Borana Weaves IPO is drawing significant attention from investors. The company’s position in the synthetic fabric segment and consistent profit growth could make it an appealing opportunity in the textile sector.
Investors interested in participating should consider the offering dates and their risk tolerance, keeping an eye on the market conditions as the IPO approaches.
