IPO Details

Bidding Dates

20 May '25 - 22 May '25

Minimum Investment

₹14,904 / 1 Lot (69 Shares)

Price Range

₹205 – ₹216

Maximum Investment

₹1,93,752 / 13 Lots (897 Shares)

Retail Discount

To be announced

Issue Size

₹144.89 Cr

Investor category and sub category

Retail Individual Investors (RII)  |   Non-institutional Investors (NII)  |   Qualified Institutional Buyers (QIB)  |  

Borana Weaves IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

May 20, 25

IPO Closing Date

May 22, 25

Basis of Allotment

May 23, 25

Initiation of Refunds

May 26, 25

IPO Listing Date

May 27, 25

About Borana Weaves IPO

Borana Weaves IPO is a book-built issue worth ₹144.89 crore. The IPO consists entirely of a fresh issue of 67.08 lakh shares. The IPO opens for subscription on May 20, 2025, and will close on May 22, 2025. Allotment is expected to be finalised on May 23, 2025, with tentative listing on BSE and NSE scheduled for May 27, 2025.

The IPO is priced in a band of ₹205 – ₹216 per share. Retail investors must apply for a minimum of 1 lot comprising 69 shares, requiring an investment of ₹14,904 at the cutoff price. sNII investors are required to apply for at least 14 lots (966 shares), amounting to ₹2,08,656. For bNII, the minimum application size is 68 lots (4,692 shares), amounting to ₹10,13,472.

Beeline Capital Advisors Pvt Ltd is the book-running lead manager for this issue, while KFIN Technologies Limited is the registrar.

For detailed financials, company background, and risk factors, investors are advised to refer to the Borana Weaves IPO RHP.

Industry Outlook

  1. India’s textile industry is a global leader, with exports exceeding USD 44 billion in FY 2022, contributing 15% to India’s total export earnings and 4.6% to global textile trade.
  2. The synthetic fabric segment has shown a CAGR of 5.19% from FY 2019 to FY 2024, driven by rising demand, product diversity, and government support like the Production Linked Incentive (PLI) scheme.
  3. The industry is embracing innovations in weaving, dyeing, and finishing, enhancing efficiency, sustainability, and product quality—especially in synthetic grey fabric and polyester yarn.
  4. Despite growth, the sector faces hurdles such as raw material price volatility, environmental compliance, and regional concentration risks, particularly in Gujarat.

Borana Weaves IPO Objectives

The company proposes to utilise the net proceeds from the IPO for the following objectives:

  1. Establish a new manufacturing unit (Proposed Unit 4) in Surat, Gujarat, to enhance production capabilities for synthetic grey fabric using advanced machinery such as texturizing, warping, and water jet looms.
  2. Allocate funds to meet incremental working capital requirements, supporting operational scalability and smoother supply chain management.
  3. Address strategic and operational needs including administrative expenses, brand building, and potential business development initiatives.
  4. Leverage the IPO to improve visibility, brand image, and create a public market for the company’s equity shares, facilitating future growth opportunities.

About Borana Weaves Limited

Borana Weaves Limited was originally incorporated as Borana Weaves Private Limited on October 28, 2020, under the Companies Act, 2013. It was subsequently converted into a public limited company and renamed Borana Weaves Limited on September 24, 2024.

The company is engaged in the manufacturing of unbleached synthetic grey fabric, a foundational material used in dyeing, printing, and finishing processes across industries such as fashion, home décor, and technical textiles. It also manufactures polyester textured yarn (PTY Yarn), derived from polyester oriented yarn (POY Yarn), which is a key raw material in its operations.

Borana Weaves operates three manufacturing units in Surat, Gujarat, and is in the process of establishing a fourth unit to expand its production capacity. The company’s operations are strategically located in the textile hub of South Gujarat, enabling efficient access to suppliers and customers.

With a focus on quality, scalability, and innovation, Borana Weaves aims to strengthen its position in the synthetic textile segment and cater to growing domestic and international demand.

How To Check the Allotment Status of the Borana Weaves IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for Borana Weaves IPO Online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the Borana Weaves IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of Borana Weaves IPO

Registered office: Plot No. AA/34, B 16/16, Hojiwala Industrial Estate, SUSML, Sachin, Surat, Gujarat, India – 394230.

Phone: +91 98984 26338

E-mail: info@boranagroup.in

Borana Weaves IPO Reservation

Investor Category

Shares Offered

Anchor Investor Shares Offered

30,18,543 (45.00%)

QIB Shares Offered

20,12,457 (30.00%)

NII (HNI) Shares Offered

10,06,200 (15.00%)

bNII > ₹10L

6,70,800 (10.00%)

sNII < ₹10L

3,35,400 (5.00%)

Retail Shares Offered

6,70,800 (10.00%)

Total Shares Offered

67,08,000 (100%)

Borana Weaves IPO Anchor Investors Details

Bid Date

May 19, 2025

Shares Offered

30,18,543

Anchor Portion Size (In Cr.)

65.2

Anchor lock-in period end date for 50% shares (30 Days)

June 22, 2025

Anchor lock-in period end date for remaining shares (90 Days)

August 21, 2025

Borana Weaves IPO Lot Size

Application

Lots

Shares

Amount

Retail (Min)

1

69

₹14,904

Retail (Max)

13

897

₹1,93,752

S-HNI (Min)

14

966

₹2,08,656

S-HNI (Max)

67

4,623

₹9,98,568

B-HNI (Min)

68

4,692

₹10,13,472

Borana Weaves IPO Promoter Holding

The promoters of the company are Mangilal Ambalal Borana, Ankur Mangilal Borana, Rajkumar Mangilal Borana, Dhwani Ankur Borana, Mangilal Ambalal Borana HUF, Ankur Mangilal Borana HUF, Rajkumar Mangilal HUF and Borana Filaments Private Limited.

Share Holding Pre-Issue

87.19%

Share Holding Post Issue

-

Key Performance Indicators for Borana Weaves IPO

As of March 31, 2024, the market capitalisation of Borana Weaves is ₹575.54

 crore. Here are the KPIs of Borana Weaves:

KPI

Value

EBITDA Margin (%)

20.68

PAT Margin (%)

11.85

Return on Equity (%)

49.45

Return on Capital Employed (%)

27.42

Price Metrics

Metric

Pre-IPO

Post-IPO

EPS (₹)

11.83

14.66

P/E (x)

18.26

14.73

Note: The Pre IPO EPS is calculated based on pre-issue shareholding as of the date of RHP and the latest FY earnings as of March 31, 2024, that is available in RHP.

The post-issue EPS is calculated based on the post-issue shareholding and annualised FY earnings of December 31, 2024, that are available in RHP.

Borana Weaves IPO Prospectus

Borana Weaves IPO Registrar and Lead Managers

Borana Weaves IPO Lead Managers

  • Beeline Capital Advisors Private Limited

Registrar for Borana Weaves IPO

KFIN Technologies Limited

Borana Weaves IPO Registrar

Financial Performance of Borana Weaves Limited

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Growth in Revenue (%) 47.01 219.84 –
Gross Profit Margin (%) 38.47 36.28 27.95
EBITDA Margin (%) 20.68 19.25 12.22
PAT Margin (%) 11.85 12.04 4.25
Return on Capital Employed (RoCE) (%) 27.42 34.93 12.23
Return on Equity (RoE) (%) 49.45 67.61 99.45
Net Working Capital Days (Days) 61 66 98

Know before investing

Strengths

8

  1. Revenue grew at a CAGR of 116.84% from FY 2022 to FY 2024, showcasing strong business momentum.

  2. All manufacturing units are located in Surat, Gujarat, India’s textile hub, ensuring supply chain efficiency.

  3. Specialises in unbleached synthetic grey fabric and PTY yarn, catering to diverse textile applications.

  4. Setting up a new manufacturing unit (Proposed Unit 4) to significantly boost production capacity.

  5. Led by industry veterans with deep domain knowledge and operational expertise.

  6. Benefits from state subsidies and schemes like PLI, aiding cost efficiency and competitiveness.

  7. PAT margin of 13.85% as of December 31, 2024, reflecting healthy financial performance.

  8. Operates in a steadily expanding synthetic textile segment with rising domestic and export demand.

Risks

8

  1. Over 98% of revenue and all manufacturing units are concentrated in Gujarat, exposing the company to regional risks.

  2. Incorporated in 2020, the company has a short track record, which may affect investor confidence.

  3. No long-term contracts with customers; any order cancellations could impact revenue.

  4. Heavy reliance on a few suppliers for POY yarn without long-term agreements.

  5. Delays or failures in obtaining environmental and operational approvals could disrupt operations.

  6. Business requires significant working capital; any shortfall may affect operations.

  7. Employee turnover has been high, which may impact productivity and continuity.

  8. The proposed expansion project is yet to begin; delays or cost overruns could affect returns.

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Borana Weaves IPO FAQs

What is the Borana Weaves IPO?

Borana Weaves IPO is a book-built issue IPO. It will be open from May 20, 2025, to May 22, 2025. 

When will the Borana Weaves IPO be allotted?

The Basis of Allotment will happen on Friday, May 23, 2025.  

When will the Borana Weaves IPO open for subscription?

The IPO subscription window will open on May 20, 2025. 

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 69 shares. 

When will Borana Weaves Limited list on exchanges?

The listing date for Borana Weaves Limited is Tuesday, May 27, 2025. 

What is the issue size of the Borana Weaves IPO?

The issue size of the Borana Weaves IPO is up to ₹144.89 crores, consisting of a fresh issue of 67.08 lakh shares. 

What are the open and close dates of the Borana Weaves IPO?

The open and close dates for Borana Weaves IPO are from May 20, 2025, to May 22, 2025. 

What would be the listing gains on the Borana Weaves IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.  

How to increase your chances of getting a Borana Weaves IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or a higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for the Borana Weaves IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate. 

Can I submit more than one application for the public issue of Borana Weaves Limited using one PAN?

You can submit only one application using your PAN card. 

How to read Borana Weaves Limited's financial statements?

To read Borana Weaves‘s financial statements, download the IPO’s RHP document. 

What is 'pre-apply' for Borana Weaves Limited IPO?

Pre-apply allows investors to apply for the Borana Weaves IPO two days before the subscription period opens, ensuring an early submission of your application. 

If I pre-apply for the Borana Weaves Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours. 

When will I know if my Borana Weaves Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.  

Who is the registrar of Borana Weaves IPO?

KFIN Technologies Limited is the registrar responsible for managing the IPO allotment process and handling investor queries. 

Where is the Borana Weaves IPO getting listed?

Borana Weaves Limited IPO is proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).