Borana Weaves IPO Ends Today: Check Subscription Status, GMP, Listing Date

ipo allotment status

The three-day window to subscribe to the initial public offering (IPO) of Borana Weaves concludes today, May 22, 2025. The offering has seen strong investor interest. According to data from the National Stock Exchange (NSE), the ₹144.89 crore IPO received bids for 20,28,27,570 shares against 36,89,457 shares on offer, resulting in an oversubscription of 54.97 times as of 11:48 AM.

Investor Category-Wise Response

Retail investors led the charge, subscribing 122.40 times their reserved quota. They were followed by:

  • Non-Institutional Investors (NIIs): 115.74 times
  • Qualified Institutional Buyers (QIBs): 2.12 times

Borana Weaves IPO Details

The IPO is an entirely fresh issue of equity shares, with no offer-for-sale (OFS) component. It is priced in a band of ₹205–₹216 per share, and the minimum lot size is 69 shares.

  • Minimum investment for retail investors: ₹14,904
  • Maximum investment (13 lots/897 shares): ₹1,93,752

Grey Market Premium (GMP)

As of the third day of the subscription period, Borana Weaves’ unlisted shares are trading at around ₹276 per share in the grey market. This translates to a GMP of ₹60, or approximately 27.78% over the issue’s upper price band.

Market Reviews and Outlook

The IPO has received positive reviews from several brokerages, including SMIFS and Anand Rathi Research. Analysts remain optimistic about the long-term potential of the company.

Allotment and Listing Dates

With the IPO closing today:

  • Basis of allotment: Expected on May 23, 2025
  • Shares to be credited to demat accounts: May 26, 2025
  • Tentative listing date on BSE and NSE: May 27, 2025

Objective of the IPO

Borana Weaves intends to utilize the IPO proceeds for:

  • Setting up a new manufacturing unit for grey fabric production in Surat, Gujarat
  • Funding working capital requirements
  • General corporate purposes

Key Players Involved

  • Registrar: KFIN Technologies
  • Lead Manager: Beeline Capital Advisors

About Borana Weaves

Borana Weaves Ltd. (BWL) is a textile manufacturer based in Surat, specializing in unbleached synthetic grey fabric. The fabric is used as a base material in various sectors, including:

  • Fashion and traditional textiles
  • Technical textiles
  • Home décor and interior design

The company operates primarily through a B2B model.