Borana Weaves IPO Day 3: Check GMP, Subscription Status, Price Band, And Key Details

The public issue of Borana Weaves Ltd. closes today, capping a remarkable run that has captured overwhelming response from investors across categories. The Surat-based textile manufacturer has drawn notable traction in both primary and grey markets, reflecting growing confidence in the company’s growth narrative and industry outlook.

Borona Weaves IPO: Subscriptiom status 

As of the end of Day 2, the IPO was oversubscribed by more than 29 times, led by a phenomenal retail response, where bids exceeded the allocation by over 77 times. Non-institutional investors (NIIs) came in with strong interest, subscribing over 53 times, while Qualified Institutional Buyers (QIBs) saw a more measured but still solid participation, subscribing 1.76 times, as per market watchers. 

Market observers attribute this high demand to Borana’s consistent operational performance, expansion plans, and favorable positioning in the synthetic textile value chain.

Also Read: Borana Weaves IPO Day 2: Check GMP, Subscription Status, Price Band, And Key Details | Republic World

Borona Weaves IPO: GMP

The grey market premium (GMP) for Borana Weaves shares stood at around Rs 60 at Rs 9:55 AM on Day 3, suggesting a potential listing gain of approximately 27.8% over the issue’s upper price band, as per market watchers. Analysts say the firm’s reasonable valuation, coupled with the upbeat sentiment in broader textile stocks, is fueling optimism among grey market participants.

Borona Weaves IPO: Price band and listing details

The IPO is a fresh issue of 67.08 lakh equity shares, aggregating to Rs 144.89 crore, with no offer-for-sale (OFS) component. Shares are priced in a band of Rs 205 to Rs 216 apiece, and the minimum lot size is 69 shares, requiring a minimum investment of Rs 14,904 for retail investors.

The issue opened on May 20, 2025, and will close today, May 22, 2025. If all goes as scheduled, the stock is expected to list on both the BSE and NSE on May 27, 2025, as per market watchers. 

The book-running lead manager of the IPO is Beeline Capital Advisors Pvt Ltd and Kfin Technologies is the IPO registrar. 

About the company

Borana Weaves is engaged in the manufacture of synthetic fabrics and yarns, catering to both domestic and export markets. The company plans to channel IPO proceeds into enhancing its manufacturing capacity, modernizing infrastructure, and strengthening working capital, as per the company's filing.