Today (22 May) is the last chance to invest in Borana Weaves Limited’s IPO i.e. Initial Public Offering. This issue opened on 20 May. This IPO has been subscribed 29.67 times so far in two days. It has received 78.08 times subscription in the retail category. 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 include 69 shares. If you apply for 1 lot as per the IPO’s upper price band 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? Borana Weaves Limited, established in 2020, is a leading company based in Surat, Gujarat, engaged in the manufacture of 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 manufacturing technologies such as texturizing, warping, water jet looms and textile folding. As of 30 September 2024, the company had a total of 15 texturizing machines, 6 warping machines, 700 water jet looms, and 10 folding machines active in its three units. What is an IPO? When a company issues its shares to the general public for the first time, it is called Initial Public Offering or 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.
