Borana Weaves shares list at 13% premium over IPO price

The shares of Borana Weaves debuted with a premium of 12.5% over its IPO price on Tuesday. The stock listed at Rs 243 on BSE and NSE.

The IPO, which closed on May 22, received a bumper response from investors across all categories. It was subscribed 148.77 times overall, with the retail portion subscribed 200.50 times, NII segment 237.41 times, and QIBs 87.21 times. The strong subscription figures reflect robust investor interest in the company’s synthetic fabric manufacturing business and its expansion plans.

Borana Weaves raised Rs 144.89 crore through a fresh issue of 67.08 lakh shares. The proceeds are being used to set up a new manufacturing facility in Surat, Gujarat, and meet working capital and general corporate needs.

Borana Weaves, incorporated in 2020, is a Surat-based textile manufacturer known for its unbleached synthetic grey fabric and polyester textured yarn (PTY yarn). The company caters to a range of industries, including fashion, traditional textiles, home décor, and technical textiles. Its three manufacturing facilities are equipped with advanced machinery, including 700 water jet looms, which contribute to its high production capacity.

In terms of financials, the company posted revenue of Rs 215.71 crore and a net profit of Rs 29.31 crore for the nine months ended December 2024. With a healthy return on net worth and strong growth momentum in the synthetic textile sector, Borana Weaves has attracted significant interest ahead of its listing.

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