India-based textile manufacturer Borana Weaves Limited, headquartered in Surat, Gujarat, made a strong stock market debut on May 27, 2025. The company’s shares opened at ₹243, a 12.5% premium over the IPO price, and hit the 5% upper circuit within hours of listing on both NSE and BSE.
Borana Weaves Limited, a textile manufacturer based in Surat, Gujarat, specializing in unbleached synthetic grey fabric, made its debut on the Indian stock exchanges today. The company’s shares opened at ₹243 on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), marking a 12.5% premium over the IPO issue price of ₹216.
Within hours of the listing, Borana Weaves share price surged further and hit the 5% upper circuit, reaching ₹255.15 on NSE and ₹255.10 on BSE as of 11:32 IST. For the next 10 trading days, the stock will remain in the Trade-for-Trade segment.
The company’s IPO, which was open from May 20 to May 22, 2025, received overwhelming investor interest. The total issue size was ₹144.89 crore, consisting entirely of a fresh issue of 67,08,000 equity shares. Borana Weaves aims to use the net proceeds from the IPO to set up a new manufacturing unit in Surat, provide additional working capital, and meet general corporate expenses.
Borana Weaves produces high-quality microfilament woven fabrics used in diverse sectors such as fashion, home décor, technical textiles, and traditional textiles. The company’s strategic expansion plans and strong market demand contributed to its successful listing.
As per IPO subscription data, retail investors subscribed 200.53 times, non-institutional investors 237.42 times, and qualified institutional buyers 87.21 times. Prior to listing, the grey market premium (GMP) for Borana Weaves IPO stood at ₹43, estimating a listing price close to ₹259, which aligns with the stock’s performance post-listing.
The company’s projected financials include an expected net profit of ₹40 crore for FY25, and further revenue growth is anticipated with a new production unit expected to be operational by December 2025.