IPO War: Borana Weaves vs Belrise Industries: Key Details Here

Equity market investors are going through a busy week as two new initial public offerings (IPOs) have opened for subscription. Companies that have come up with their IPOs include, Borana Weaves Limited and Belrise Industries.

Borana Weaves Limited

Borana Weaves IPO opened for subscription on Tuesday, May 20 and will remain open until Thursday, May 22. The company plans to raise ₹144.89 crore via a fresh issue of 67 lakh equity shares.

Raising over 65.20 crore from anchor investors before the IPO, the price band of the IPO is pegged between ₹205-216 apiece.

During the first day, the issue was subscribed by 8.66 times, in which the portion of retail investors and non-institutional investors was subscribed by 25.55 times and 11.64 times, respectively.

Should investors buy Borana Weaves?

According to Bajaj Broking, investors are advised to subscribe the IPO by keeping a long-term growth in mind. The company has already reported strong earnings. Based on the expected FY25 earnings, the price-to-earnings (P/E) ratio is 14.73, while P/E is at 24.41.

As of May 21, the grey market premium for Borana Weaves was ₹52. This means that the shares are going to be listed at ₹268 apiece, meaning a gain of 24.07%.

Notably, the shares are set to be allotted on Friday, May 23, 2025, while it’s likely to be listed on stock exchanges on Tuesday, May 27, 2025.

Belrise Industries

Belrise Industries’ IPO opened for subscription on May 21 and will remain open till Friday, May 23, 2025. The company plans to raise ₹2,150 crore via a fresh issue of 23.89 crore equity shares. Price band has been fixed ₹85-90 apiece.

Established in 1988 as Badve Engineering (now Belrise Industries), the company is engaged in manufacturing of sheet metal parts, casting items, polymer components, suspension systems, and mirrors, which are used in two-wheelers, three-wheelers, four-wheelers among many.

Should investors buy Belrise Industries?

Bajaj Broking advised investors to subscribe to Belrise Industries IPO by keeping a long-term perspective.

As of morning of May 21, 2025, the GMP was ₹12. The upper price band has been fixed at ₹90, with an estimated listing price of ₹ 102, indicating a gain of 13.33%.

The allotment of the shares are set to be done on Monday, May 26, while the company is set to go public on May 28.