Textile company Borana Weaves Limited has fixed its IPO price band between ₹205 and ₹216 per share. The IPO will be open for public subscription from May 20 to May 22.
Anchor investors can place their bids one day earlier, on May 19. The company plans to raise ₹144.89 crore through this IPO, which consists entirely of fresh equity shares.
The issue includes 67.08 lakh fresh equity shares. At the highest price in the band, the total IPO value will be ₹144.89 crore.
Out of the raised funds, ₹71.35 crore will be used to build a new manufacturing unit in Gujarat to increase grey fabric production. Another ₹26.5 crore will cover working capital expenses.
Here is the full IPO schedule
Investors can apply for Borana Weaves’ IPO between May 20 and May 22. The share allotment will happen on May 23.
Refunds and credit of shares to demat accounts will start on May 26. The shares are expected to be listed on stock exchanges on May 27.
About the Company
Borana Weaves Limited is located in Surat. It produces unbleached synthetic grey fabric used as a base for dyeing, printing,
and other processes in sectors like fashion, traditional textiles, home décor, and interior design.
The company also manufactures polyester textured yarn by heating polyester-oriented yarn, which is an essential material for making grey fabric.
Currently, Borana Weaves has three manufacturing units in Gujarat. Together, these units can produce up to 233.28 million meters of grey fabric and polyester textured yarn every year.
Recent Performance
In the nine months ending December 2024, the company earned ₹211.61 crore in revenue and a net profit of ₹29.31 crore.
For the full financial year 2023–24, revenue increased to ₹199.06 crore from ₹135.40 crore the previous year. Net profit also rose from ₹16.30 crore to ₹23.59 crore during the same period.
