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Borana Weaves IPO Opens for Subscription with Strong Grey Market Signals

The Surat-based textile manufacturer aims to raise Rs 144.89 crore to fund expansion, with shares already commanding a significant premium in unofficial trading.

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Overview

  • Borana Weaves' IPO, priced between Rs 205–216 per share, opened for bidding on May 20 and will close on May 22, 2025.
  • The company plans to raise Rs 144.89 crore through a fresh issue of 67.08 lakh shares, with proceeds allocated for a new manufacturing unit, working capital, and corporate expenses.
  • As of May 20, the IPO has been subscribed 18%, with retail investors accounting for 60% of the initial uptake.
  • Grey market premiums for Borana Weaves' shares are currently at Rs 55–64, suggesting potential listing gains of 25–30%.
  • Final share allotment is expected on May 23, with trading on the BSE and NSE scheduled to begin on May 27.