The public issue of Borana Weaves continued to see strong interest from investors on May 22, the third and final day of public bidding. The Rs 145-crore IPO of the textile company was subscribed nearly 149 times within the three days, with non-institutional investors (NII) overtaking retail investors by booking their reserved portion by a whopping 237 times.
The IPO received bids for 54.89 crore shares, as against its offer size of 36.89 lakh shares, according to data available on the NSE. While NIIs took the lead, retail investors followed closely by subscribing their reserved portion by over 200 times. The portion reserved for Qualified Institutional Buyers (QIBs) meanwhile was subscribed over 87 times times. Borana Weaves launched the IPO comprising 67.08 lakh shares to raise Rs 144.89 crore at the upper price band. The IPO, which solely comprised a fresh issue of shares, was open for public bidding till May 22. The textile company had set a price band of Rs 205-216 per share for the IPO.
Borana Weaves Ltd is a reputed name in textile manufacturing, known for delivering a smooth and efficient journey from fibre to fabric. Since its establishment in 2020, the company has focused on fast, high-quality production, powered by a modern manufacturing facility and advanced high-speed water jet looms, ensuring speed without sacrificing quality. Significantly, they have made 24 water jet weaving looms in their operations, and it’s the reason for improved production efficiency and product quality. Borana Weaves has a mission regarding manufacturing capabilities and wants to explore new opportunities for its company’s growth. 
Apart from its mission for premium quality textiles and innovative Products.
From POY to PTY, and through warping, sizing, and weaving, its process showcases the skill behind textile making.
What would Borana Weaves list at 40% above the market ?
Choudharys Market
No comments:
Post a Comment