Borana Weaves Lists on the Stock Exchange; Opens at 12.5% Premium
Borana Weaves made a thumping debut on the stock exchanges today. The stock listed on the NSE and BSE, at a premium of 12.50% at ₹243, against the issue price of ₹216.
Borana Weaves Lists on the Stock Exchange; Opens at 12.5% Premium
Borana Weaves made a thumping debut on the stock exchanges today. The stock listed on the NSE and BSE, at a premium of 12.50% at ₹243, against the issue price of ₹216.
The grey market premium (GMP) of the stock stood at ₹43.
The textile manufacturer raised ₹144.89 crore through the IPO, which was entirely a fresh issue of about 67.08 lakh equity shares.
Funds raised via the IPO will be utilised to establish a new manufacturing unit in Surat, Gujarat and for general corporate purposes.
“Over the past few years, we have grown our manufacturing capabilities in the synthetic textile segment. The proceeds from the IPO will support the expansion of our production infrastructure and help us address our working capital needs.”
“This step aligns with our long-term strategy of scaling operations while maintaining focus on product quality and operational efficiency,” Borana Weaves’ Chairman and MD Mangilal Ambalal Borana said.
Founded in 2020, Borana Weaves is Surat-based textile manufacturer, which specialises in producing unbleached synthetic grey fabric.
