Borana Weaves IPO ends today; check subscription status, GMP, listing date

The unlisted shares of Borana Weaves were quoted trading at around ₹276 per share, reflecting a grey market premium (GMP) of ₹60 or 27.78 per cent over the upper end of the issue price

Borana Weaves Day 3 update, subscription status: The three-day subscription window to bid for the initial public offering (IPO) of Borana Weaves is set to close today, May 22, 2025. The public offering has received a decent response from the investors so far. The NSE data suggests that the ₹144.89 crore offering of Borana Weaves received bids for 20,28,27,570 shares, against 36,89,457 shares on offer, resulting in an oversubscription of 54.97 times by 11:48 AM on Thursday, May 22.  

Among the investor categories, retail investors led the demand by oversubscribing the category reserved for them by 122.40 times. This was followed by Non-institutional investors (NIIs), who bid for 115.74 times, and Qualified institutional buyers (QIBs) for 2.12 times.

 

Borana Weaves IPO details

Borana Weaves IPO comprises an entirely fresh issue of equity shares, with no offer-for-sale (OFS) component. The public offering is available at a price band of ₹205–216 per share, with a lot size of 69 shares.

 

Taking the upper end of the IPO price into consideration, a retail investor would require a minimum of ₹14,904 to bid for one lot or 69 shares of Borana Weaves IPO. A retail investor can bid for a maximum of 13 lots or 897 shares, with an investment amount of ₹1,93,752.

Borana Weaves IPO grey market premium (GMP)

The unlisted shares of Borana Weaves continue to command a solid premium in the grey market on the third day of the subscription period. Sources tracking unofficial market activities revealed that Borana Weaves shares were seen trading at around ₹276 per share, reflecting a grey market premium (GMP) of ₹60 or 27.78 per cent over the upper end of the issue price.

Borana Weaves IPO review

Borana Weaves has also succeeded in garnering favorable reviews from brokers, including SMIFS and the Anand Rathi Research Team. Market analysts broadly remain optimistic about the long-term prospects of the company. READ MORE

Borana Weaves IPO allotment date, listing date

As the public offering closes for subscription today, the basis of allotment of Borana Weaves IPO shares is expected to get finalized tomorrow, May 23. The successful investors will get the company’s shares credited into their demat account on May 26, 2025.

 

Borana Weaves shares are expected to list on the BSE and NSE tentatively on Tuesday, May 27, 2025.

Borana Weaves IPO Objective

Borana Weaves proposes to utilise the net proceeds from the public offering to finance the cost of establishing a new manufacturing unit to expand its production capabilities to produce grey fabric in Surat, Gujarat, India. The company will further use the IPO proceeds for funding incremental working capital requirements and general corporate purposes.

Borana Weaves IPO registrar, lead manager

KFIN Technologies is the registrar for the public issue, while Beeline Capital Advisors is the sole book-running lead manager.

About Borana Weaves

Borana Weaves Ltd. (BWL) is a textile manufacturer based in Surat, specializing in the production of unbleached synthetic grey fabric. This fabric serves as a fundamental material for further processing, such as dyeing and printing, in various industries, including fashion, traditional textiles, technical textiles, home décor, and interior design. The company is engaged in the business with a B2B model.