Borana Weaves IPO Details
Borana Weaves IPO Price-band
The IPO, a book-built issue, will see 6,708,000 equity shares with a face value of ₹10 each being offered to the public. The price band for the issue has been fixed between ₹205 and ₹216 per equity share. Investors can bid for a minimum of 69 shares, which constitutes one market lot, requiring a minimum investment of ₹14,904 for retail investors. The maximum investment for a retail investor is capped at 13 lots, totaling 897 shares amounting to ₹193,752.
Borana Weaves IPO Key Dates(Expected)
The subscription window for the Borana Weaves IPO will close on May 22, 2025. Following the closure, the basis of allotment is tentatively scheduled to be finalized on May 23, 2025. Refunds are expected to be initiated on May 26, 2025, with shares being credited to the demat accounts of successful applicants on the same day. The equity shares of Borana Weaves are expected to be listed on both the BSE and NSE on May 27, 2025.
| Event | Date |
|---|---|
| Issue Opens | May 20, 2025 |
| Issue Closes | May 22, 2025 |
| Allotment Finalization | May 23, 2025 |
| Refunds Initiated | May 26, 2025 |
| Shares Credited to Demat Accounts | May 26, 2025 |
| Listing Date | May 27, 2025 |
Borana Weaves Limited Promoters
Borana Weaves’ promoters include 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. These individuals and entities collectively hold a significant stake in the company. Prior to the IPO, the promoters held a combined shareholding of 87.19%, indicating strong promoter control and commitment to the company.
Borana Weaves IPO Objectives
The net proceeds from the IPO are intended to be utilized for key strategic initiatives by the company. A significant portion of the funds will be directed towards financing the establishment of a new manufacturing unit in Surat, aimed at expanding the company’s production capabilities for grey fabric. Additionally, the funds will be used to meet incremental working capital requirements and for general corporate purposes.
Borana Weaves Limited has established itself in the textile sector with its focus on synthetic grey fabric, a crucial raw material for various downstream processes like dyeing and printing in industries such as fashion, home decor, and technical textiles. The company also manufactures polyester textured yarn, further integrating its operations. Currently operating three manufacturing units in Surat equipped with modern machinery including water jet looms, the company plans to enhance its capacity with the proposed new unit.
Borana Weaves IPO Reservations
The IPO allocation structure designates not less than 75% of the issue for Qualified Institutional Buyers (QIBs), not more than 15% for Non-Institutional Investors (NIIs), and not more than 10% for retail individual investors.
Borana Weaves Limited financials(in Lakh)
| Particulars | Dec ’24 | Mar ’24 | Mar ’23 | Mar ’22 |
|---|---|---|---|---|
| Assets | 14,967 | 13,705 | 7,498 | 3,190 |
| Revenue | 21,571 | 19,960 | 13,553 | 4,236 |
| PAT | 2,931 | 2,359 | 1,630 | 180 |
| Net Worth | 7,655 | 4,739 | 2,411 | 181 |
| Reserves | 5,687 | 4,766 | 2,407 | 180 |
| Borrowing | 5,403 | 6,910 | 3,889 | 2,731 |
Borana Weaves IPO Lead Manager & Registrar
Beeline Capital Advisors Pvt Ltd is acting as the book-running lead manager for the IPO, while Kfin Technologies Limited has been appointed as the registrar for the issue. Investors considering participating in the Borana Weaves IPO are advised to review the Red Herring Prospectus for detailed information about the company, the risks involved, and the terms of the offer.
Borana Weaves IPO Important Documents
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