Latest IPO in India: Borana Weaves Ltd – Positive Outlook with 27% GMP Buzz
Borana Weaves Ltd is making headlines as the latest IPO in India, with its public issue opening on May 20, 2025. The company, known for its high-quality synthetic and greige polyester woven fabrics, aims to raise ₹144.89 crore. With a price band set between ₹205 and ₹216 per share and a Grey Market Premium (GMP) indicating potential listing gains of around 27%, investor interest is notably high.
Company Overview
Established in 2020 and based in Surat, Gujarat, Borana Weaves Ltd specializes in the production of unbleached synthetic grey fabric and polyester textured yarn. The company operates three manufacturing units and manages the entire production process in-house—from POY to PTY, including warping, sizing, and weaving. With an annual output of over 220 million meters, Borana is among India’s largest greige fabric producers.
IPO Timeline
- Anchor Investor Bidding: May 19, 2025
- IPO Opens: May 20, 2025
- IPO Closes: May 22, 2025
- Allotment Finalization: May 23, 2025
- Refunds Initiated: May 26, 2025
- Shares Credited to Demat: May 26, 2025
- Listing Date: May 27, 2025
IPO Price Band
- Price Band: ₹205 – ₹216 per share
- Face Value: ₹10 per share
- Issue Type: Book Built Issue
Lot Size
- Lot Size: 69 shares
- Minimum Investment: ₹14,904
- Retail Investor Maximum: 13 lots (₹193,752)
Key Dates
- IPO Open Date: May 20, 2025
- IPO Close Date: May 22, 2025
- Allotment Date: May 23, 2025
- Listing Date: May 27, 2025
Financials
| Financial Year | Revenue (₹ Cr) | PAT (₹ Cr) | EBITDA Margin (%) | ROE (%) | ROCE (%) |
|---|---|---|---|---|---|
| FY 2022 | 42.36 | 1.80 | – | – | – |
| FY 2023 | 135.53 | 16.30 | – | – | – |
| FY 2024 | 199.60 | 23.59 | 21.00 | 49.45 | 27.42 |
Strengths
- Integrated manufacturing with complete in-house production
- Strong operational efficiency and 21% EBITDA margin
- Rapid financial growth and robust profitability
- Among India’s largest greige fabric producers
Risks
- Volatile raw material prices (polyester based)
- High competition from industry leaders like KPR Mill, Arvind, Vardhman
IPO Anchor Investors Details
| Investor Category | Shares Offered | Percentage of Net Issue |
|---|---|---|
| Anchor Investors | 30,18,600 | 45% |
| QIBs | 20,12,400 | 30% |
| NIIs | 10,06,200 | 15% |
| RIIs | 6,70,800 | 10% |
IPO Promoter Holding Details
| Particulars | Pre-Issue Holding (%) | Post-Issue Holding (%) |
|---|---|---|
| Promoters Group | 87.19 | 65.24 |
| Others | 12.81 | 34.76 |
IPO Grey Market Premium (GMP)
| Date | GMP (₹) | Expected Listing Gain (%) |
|---|---|---|
| May 16, 2025 | 58 | 26.9 |
Final Thoughts
Borana Weaves Ltd offers a promising opportunity in the textile manufacturing space. The company’s strong growth, operational efficiency, and significant market presence provide confidence to investors. While industry-specific risks do exist, the positive GMP and robust financials suggest this latest IPO in India is worth considering for both listing gains and long-term potential.