Borana Weaves Limited’s IPO i.e. Initial Public Offering is opening on 20 May. Investors will be able to bid for this issue till 22 May. The company’s shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on 27 May. Through this issue, the company wants to raise a total of Rs 145 crore. For this, the company will issue about 67 lakh fresh shares. In the issue, the company’s existing investors or promoters will not sell a single share through Offer for Sale i.e. OFS. If you are also thinking of investing money in this IPO, then we are sharing all the details related to it with you… How much minimum and maximum money can you invest? Borana Weaves has fixed the price band of the IPO from ? 205 to ? 216. Retail investors can bid for a minimum of one lot, which will contain 69 shares. If you apply for 1 lot as per the upper price band of IPO of Rs 216, then you will have to invest Rs 14,904 for it. At the same time, retail investors can apply for a maximum of 13 lots or 897 shares. For this, investors will have to invest Rs 1,93,752 as per the upper price band. 10% of the issue reserved for retail investors The company has reserved 75% of the IPO for Qualified Institutional Buyers (QIB). Apart from this, 10% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII). What does Borana Weaves Limited do? Established in 2020, Borana Weaves Limited is a leading company based in Surat, Gujarat, which manufactures unbleached synthetic grey fabric. This grey fabric is used in industries like fashion, traditional textiles, technical textiles, home decor and interior design. The company also manufactures polyester textured yarn (PTY Yarn), which is made by heating polyester oriented yarn (POY Yarn). This POY yarn is used as raw material in the production of grey fabric. Borana Weaves Limited operates three manufacturing units in Surat, Gujarat, equipped with textile making technologies such as texturizing, warping, water jet looms and textile folding. As of 30 September 2024, a total of 15 texturizing machines, 6 warping machines, 700 water jet looms, and 10 folding machines were active in the company’s three units. What is an IPO? When a company issues its shares to the general public for the first time, it is called an Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
