Borana Weaves’ IPO opened for public subscription on May 20 with a price band of ₹205-₹216 per share, aiming to raise approximately ₹145 crore. On Day 1, the issue was subscribed 3.28 times overall, with retail investors showing strong interest by subscribing nearly 12 times. The grey market premium currently stands at ₹55, suggesting positive market sentiment ahead of the IPO listing scheduled for May 27.
Borana Weaves, a textile manufacturer specializing in unbleached synthetic grey fabric, opened its Initial Public Offering (IPO) for public subscription on May 20, 2025. The IPO is priced between ₹205 and ₹216 per share, targeting to raise ₹144.89 crore by issuing 67.08 lakh equity shares.
On the first day of the subscription, the IPO saw robust investor interest and was subscribed 3.28 times, according to data from the Bombay Stock Exchange (BSE). By noon, investors had bid for nearly 1.21 crore shares against the 36.89 lakh shares available, signaling strong demand.
Retail investors were the most enthusiastic segment, subscribing nearly 12 times their allocated portion. Non-institutional investors also showed solid interest, with subscriptions hitting 4.01 times. However, qualified institutional buyers (QIBs) subscribed only about 1% of their quota on Day 1.
The strong retail response indicates optimism about the company’s prospects. Founded in 2020, Borana Weaves focuses on producing synthetic grey fabric used as a base material for further processing in sectors such as fashion, home decor, and interior design.
Meanwhile, the grey market premium (GMP) for Borana Weaves shares is currently at ₹55, indicating investors are willing to pay a significant premium over the issue price in anticipation of a positive listing. If this trend continues, the shares could list around ₹271, nearly 25% above the upper end of the IPO price band.
The public subscription will continue until May 22, with the company’s shares expected to list on the stock exchanges on May 27, 2025. Investors planning to participate in the IPO should consider this strong early interest while evaluating their investment decisions.
