Borana Weaves Share Price Weaves 12.5% Gain On Listing, Grey Market Disappointed?

Textile manufacturer Borana Weaves listed on Indian stock exchanges with a solid debut on Monday, as its shares were listed at Rs 243 per share on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) — a 12.50% premium over the IPO’s upper band of Rs 216.

However, this gain fell short of the expectations set by the grey market, where shares were trading with a 19.91% premium ahead of the listing, according to the Market Tracker website.
With the stock debut, the market capitalisation of Borana Weaves stood at approximately Rs 680 crore on BSE.

IPO Saw Strong Investor Demand with 148.77x Subscription
The company’s Rs 144.89 crore initial public offering (IPO), open for subscription from May 20 to May 22, received an overwhelming response from all investor categories. As per NSE data, the IPO was subscribed a staggering 148.77 times, with bids for 54.88 crore shares against an offer of just 36.89 lakh shares.

Borana Weaves IPO Price Band
The IPO consisted entirely of a fresh issue of 67.08 lakh equity shares. The price band was fixed at Rs 205–Rs 216 per share, and the issue was managed by Beeline Capital Advisors, with Kfin Technologies as the registrar.

Ahead of the public offering, Borana Weaves raised Rs 65.20 crore from anchor investors on May 19, 2025, reflecting institutional confidence in the company’s growth trajectory.

Read More 
Borana Weaves IPO Allotment Status Today: GMP Strong, Listing on May 27

IPO Funds to Expand Surat Facility and Working Capital
According to the Red Herring Prospectus, the proceeds from the IPO will be used to:
Set up a new manufacturing unit in Surat, Gujarat, for grey fabric production
Meet incremental working capital requirements
Support general corporate purposes

About Borana Weaves: From 2020 Startup to Market Debut
Incorporated in 2020, Borana Weaves manufactures high-quality microfilament woven fabrics, focusing on unbleached synthetic grey fabric. This base material is widely used in fashion, home décor, traditional textiles, and interior design sectors, post-processing via dyeing and printing.