Overview

• Borana Weaves' IPO, which opened on May 20, has been subscribed over 20 times as of May 21, driven by significant retail investor participation.
• Retail investors oversubscribed their quota by 56.36 times, while non-institutional investors and qualified institutional buyers subscribed 32.42 times and 1.63 times, respectively.
• The IPO price band is set at Rs 205-216 per share, with a grey market premium of Rs 52-56 suggesting an estimated listing gain of 24-26%.
• Proceeds from the Rs 144.89 crore IPO will fund a new manufacturing unit in Surat, working capital needs, and general corporate purposes.
• The share allotment is expected on May 23, with listing on the NSE and BSE planned for May 27.