Borana Weaves IPO Ends today, Oversubscribed By 29.46 Times; GMP Shows Healthy Premium

Mumbai: The public issue of Borana Weaves Ltd. ends today, May 22, 2025. The IPO has received strong interest from investors. By the second day, the IPO was oversubscribed 29.46 times, as per NSE data. The company offered 36.89 lakh shares, but received bids for 10.87 crore shares.

Retail Investors Lead the Way

Retail investors showed the most interest. Their reserved portion was oversubscribed 77.16 times. Non-Institutional Investors (NIIs) followed with 53.07 times oversubscription. Qualified Institutional Buyers (QIBs) bid 1.76 times their portion.

IPO Price, Lot Size, and GMP

The IPO price band is set at Rs 205–Rs 216 per share. One lot includes 69 shares, which costs Rs 14,904 at the upper price. A retail investor can apply for up to 13 lots (Rs 1,93,752).

In the grey market, Borana Weaves shares are trading at around Rs 276, showing a Rs 60 premium over the IPO price. This means a 27.78% gain is expected on listing.

Listing and Allotment Dates

The allotment of shares is expected on May 23, 2025. Shares should be credited to demat accounts by May 26. The listing is likely on May 27, 2025 on both NSE and BSE.

Company Details and Use of Funds

Borana Weaves is a textile company from Surat, Gujarat. It makes grey synthetic fabric, used in fashion, home décor, and more. The IPO proceeds will help set up a new manufacturing unit in Surat. Funds will also go toward working capital and general corporate needs.

Registrar and Lead Manager

KFIN Technologies is the registrar. Beeline Capital Advisors is the lead manager of the IPO.