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Borana Weaves IPO is a bookbuilding of ₹144.89 crores. The issue is entirely a fresh issue of 0.67 crore shares with no offer for sale.
The IPO opens for subscription on May 20, 2025, and will close on May 22, 2025. The allotment is expected to be finalized on Friday, May 23, 2025. The price band for the IPO is set at ₹205 to ₹216 per share, and the minimum lot size for an application is 69 shares.
Company Summary
Incorporated in 2020, Borana Weaves Limited is a manufacturer of unbleached synthetic grey fabric based in Surat, Gujarat. The company’s unbleached synthetic grey fabric is often widely used as a base for further processing (including dyeing and printing) in industries such as fashion, traditional textiles, technical textiles, home decor, interior design, etc.
The company also manufactures polyester textured yarn (“PTY Yarn”), which is produced by heating polyester oriented yarn (“POY Yarn”), our raw material used in the production of grey fabric.
Borana Weaves Limited company operates three manufacturing units in Surat, Gujarat, equipped with textile manufacturing technologies for, inter alia, texturizing, warping, water jet looms, and textile folding.
As of September 30, 2024, the company had a total of 15 texturizing machines, 6 warping machines, 700 water jet looms, and 10 folding machines active at its three units.
Company Strengths
The company specializes in unbleached synthetic fabric. The versatility of this fabric allows the company to complement a wide range of unbleached fabrics across different styles.
The company claims to be well-positioned to capitalize on opportunities emerging from the projected 3.7 percent global growth in the man-made fibers market by 2025.
Their presence in Surat, a major textile and apparel manufacturing hub, provides strategic advantages. The use of pollution-light machinery leads to lower employee costs and reduced labour issues. The manufacturing units are fully integrated.
The company is led by experienced promoters with extensive industry experience, providing strong leadership and industry connections.
They have a wide customer base across various states, including Gujarat, Rajasthan, Uttar Pradesh, West Bengal, Haryana, and Delhi.
Company Financials
Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
Assets | 149.67 | 137.05 | 74.98 | 31.90 |
Revenue | 215.71 | 199.6 | 135.53 | 42.36 |
Profit After Tax | 29.31 | 23.59 | 16.30 | 1.80 |
Net Worth | 76.55 | 47.39 | 24.11 | 1.81 |
Reserves and Surplus | 56.87 | 47.66 | 24.07 | 1.80 |
Total Borrowing | 54.03 | 69.10 | 38.89 | 27.31 |
Objectives of the IPO
The Net Proceeds from the Issue are to be utilized towards the following objects:
- Proposing to finance the cost of establishing a new manufacturing Unit to expand its production capabilities to produce grey fabric at Surat, Gujarat, India.
- Funding incremental working capital requirements.
- General Corporate Purposes
Promoters of the company
Mangilal Ambalal Borana, Ankur Mangilal Borana, Rajkumar Mangilal Borana, Dhwani Ankur Borana, Mangilal Ambalal Borana HUF, Ankur Mangilal Borana HUF, Rajkumar Mangilal HUF And Borana Filaments Private Limited are the company promoters.
IPO Details
IPO Date | May 20, 2025 to May 22,2025 |
Listing Date | May 27, 2025 |
Face Value | ₹10 per share |
Price Band | ₹205 to ₹216 per share |
Lot size | 69 shares |
Total Issue size | 67,08,000 shares (aggregating up to ₹144.89 Cr) |
Fresh issue | 67,08,000 shares (aggregating up to ₹144.89 Cr) |
Issue type | Bookbuilding IPO |
Listing at | NSE, BSE |
Lot Allocation Details
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 69 | ₹14,904 |
Retail (Max) | 13 | 897 | ₹1,93,752 |
S-HNI (Min) | 14 | 966 | ₹2,08,656 |
S-HNI (Max) | 67 | 4623 | ₹9,98,568 |
B-HNI (Min) | 68 | 4692 | ₹10,13,472 |
Allotment Schedule
Basis of Allotment | Fri, May 23, 2025 |
Initiation of Refunds | Mon, May 26, 2025 |
Credit of Shares to Demat | Mon, May 26, 2025 |
Tentative Listing Date | Tue, May 27, 2025 |
Cut-off time for UPI mandate confirmation | 5 PM on May 22, 2025 |
IPO Reservation
Investor Category | Shares Offered |
QIB Shares Offered | Not less than 75% of the Issue |
Retail Shares Offered | Not more than 10% of the Issue |
NII (HNI) Shares Offered | Not more than 15% of the Issue |
To check allotment, click here
Disclaimer: Investments in the Securities market and Mutual Funds are subject to market risks. Read all the related documents carefully before investing | The securities are quoted as an example and not as a recommendation | Brokerage will not exceed the SEBI-prescribed limit | Margins will be collected as per the exchange norms.