Borana Weaves IPO
Borana Weaves IPO — date, price band, lot size & details 2025
Borana Weaves listed on 27 May 2025 at ₹243, 12.5% above the ₹216 issue price.
Borana Weaves makes unbleached synthetic grey fabric at three units in Surat, Gujarat. It had 700 water jet looms active on 30 September 2024.
Stock price
Borana Weaves is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 20 May 2025
- Close 22 May 2025
- Allotment 23 May 2025
- Refund/credit 26 May 2025
- Listing 27 May 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 20 to 22 May, 2025 |
|---|---|
| Price Band | ₹205 – ₹216 |
| Face Value | ₹10 |
| Lot Size | 69 Shares |
| Issue Size | ₹144.89 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,904 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 69 shares at the ₹216 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 69 | ₹14,904 |
| Retail (max) | 13 | 897 | ₹1,93,752 |
| S-HNI (min) | 14 | 966 | ₹2,08,656 |
| S-HNI (max) | 67 | 4,623 | ₹9,98,568 |
| B-HNI (min) | 68 | 4,692 | ₹10,13,472 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 42.36 crore in FY2022 to Rs 199.60 crore in FY2024.
- 02Profit after tax rose from Rs 1.80 crore in FY2022 to Rs 23.59 crore in FY2024.
- 03Profit after tax was Rs 29.31 crore in the nine months to 31 December 2024, already above the full FY2024 figure.
- 04The whole Rs 144.89 crore issue was fresh capital, and Rs 71.35 crore of it was for a new unit.
- 05The P/E was 14.73 at the upper band of Rs 216, based on post-issue EPS of Rs 14.66.
Risks · 7
- 01The latest financials cover only the nine months to 31 December 2024, and the company has a short history, having started in 2020.
- 02Return on equity of 49.45% is high partly because net worth was small, at Rs 47.39 crore on 31 March 2024.
- 03Total borrowing was Rs 54.03 crore on 31 December 2024 against net worth of Rs 76.55 crore.
- 04All three manufacturing units are in Surat, so one region carries the whole 700 loom base.
- 05The PAT margin was 11.85%, and grey fabric is a commodity product with limited pricing power.
- 06Rs 32.88 crore of the proceeds was for general corporate purposes.
- 07Promoter holding fell from 87.19% before the issue to 65.24% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Borana Weaves offer document.
| Metric | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 149.67 | 137.05 | 74.98 | 31.90 |
| Total Income | 215.71 | 199.60 | 135.53 | 42.36 |
| Profit After Tax | 29.31 | 23.59 | 16.30 | 1.80 |
| EBITDA | 46.03 | 41.17 | 26.06 | 5.17 |
| NET Worth | 76.55 | 47.39 | 24.11 | 1.81 |
| Reserves and Surplus | 56.87 | 47.66 | 24.07 | 1.80 |
| Total Borrowing | 54.03 | 69.10 | 38.89 | 27.31 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Borana Weaves RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Borana Weaves IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹11.83 | ₹14.66 |
| P/E Ratio (x) | 18.26 | 14.73 |
| Market Cap at Offer Price (₹ Cr) | ₹535.16 | ₹431.85 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹216 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹144.90 Cr of the issue is earmarked to named objects.
Borana Weaves IPO Anchor Investors
11 anchor investors across 11 fund houses committed ₹65.18 Cr a day before the issue opened.
| Anchor Investor | Fund House | Shares | Amount (₹ Cr) | % of Anchor Book |
|---|---|---|---|---|
| Pine Oak Global Fund | Pine Oak | 517,776 | 11.18 | 17.15% |
| Chhatisgarh Investments Limited | Chhattisgarh Investments | 347,415 | 7.50 | 11.51% |
| Innovative Vision Fund | Innovative Vision | 266,202 | 5.75 | 8.82% |
| Vpk Global Ventures Fund - Vpk Global Ventures Fund - Scheme 1 | Vpk Global Ventures | 266,202 | 5.75 | 8.82% |
| Aarth AIF Growth Fund | Aarth | 231,564 | 5.00 | 7.67% |
| Saint Capital Fund | Saint Capital | 231,564 | 5.00 | 7.67% |
| Finavenue Capital Trust-Finavenue Growth Fund | Finavenue | 231,564 | 5.00 | 7.67% |
| Invicta Continuum Fund I | Invicta Continuum | 231,564 | 5.00 | 7.67% |
| Nexus Equity Growth Fund - Nexus Equity Growth Fund Sch-1 | Nexus | 231,564 | 5.00 | 7.67% |
| Rajasthan Global Securities Pvt.ltd. | Rajasthan Global Securities | 231,564 | 5.00 | 7.67% |
| Sunrise Investment Trust-Sunrise Investment Opportunities Fund | Sunrise | 231,564 | 5.00 | 7.67% |
| Total anchor allocation | 65.18 | |||
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
The company also makes polyester textured yarn by heating polyester oriented yarn. Textured yarn is the main raw material for grey fabric, so this step is done in-house.
The three units had 15 texturizing machines, 6 warping machines, 700 water jet looms and 10 folding machines active on 30 September 2024.
The IPO was a fresh issue of Rs 144.89 crore. Rs 71.35 crore was planned for a new manufacturing unit and Rs 26.50 crore for working capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Borana Weaves IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Beeline Capital Advisors Pvt. Ltd.
8 issues handled (4 mainboard, 4 SME)Best listing: Kratikal Tech (+42.2%). Weakest: Modern Diagnostic & Research Centre (0.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Borana Weaves?
The current Grey Market Premium is ₹39, or 18% over the issue price.
What is the Borana Weaves IPO price band?
₹205 to ₹216, on a face value of ₹10.
When is the allotment?
The basis of allotment is 23 May 2025, with listing on 27 May 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
