'The initial public offer of Borana Weaves received bids for 3,14,63,862 shares as against 36,89,457 shares on offer, according to stock exchange data at 17:00 IST on 20 May 2025. The issue was subscribed 8.53 times.
The issue opened for bidding on 20 May 2025 and it will close on 22 May 2025. The price band of the IPO is fixed between Rs 205 and 216 per share. An investor can bid for a minimum of 69 equity shares and in multiples thereof.
Out of the proceeds from the fresh issue, Rs 71.35 crore will be used to finance the cost of establishing a new manufacturing Unit to expand its production capabilities to produce grey fabric at Surat, Rs 26.50 crore to fund incremental working capital requirement and the balance towards general corporate purposes.
Ahead of the IPO, Borana Weaves on Monday, 19 May 2025, raised Rs 65.20 crore from anchor investors. The board allotted 30,18,543 shares at Rs 216 each to 11 anchor investors.
Borana Weaves (Borana) is a textile man...
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