Borana Weaves IPO Oversubscribed! Listing Day Hype Hits Fever Pitch

Image Source: Zee Business

Borana Weaves Limited’s eagerly awaited IPO closes today, May 22, 2025, after generating remarkable investor enthusiasm and setting the stage for a promising market debut. The Surat-based textile manufacturer’s ₹144.89 crore public issue has captivated both retail and institutional investors, with the final day seeing a flurry of bids.

Key Highlights:

Oversubscription Frenzy: As of Day 2, the IPO was already oversubscribed 29.46 times, with retail investors leading the charge at a staggering 77.16 times their reserved quota. Non-Institutional Investors (NIIs) followed at 53.07 times, and Qualified Institutional Buyers (QIBs) at 1.76 times. The momentum is expected to push final figures even higher by the close of bidding.
Grey Market Premium (GMP): Borana Weaves shares are commanding a robust GMP of ₹60, indicating a likely listing price of around ₹276—about 28% above the upper end of the IPO price band set at ₹205–216 per share. This strong premium signals high investor confidence and positive sentiment in the unlisted market.
Allotment and Listing Dates: The basis of allotment will be finalized on May 23, 2025. Successful applicants will see shares credited to their demat accounts by May 26, with the official listing scheduled for May 27 on both BSE and NSE.
IPO Details: The issue comprises only a fresh issue of 67.08 lakh shares, with a minimum lot size of 69 shares (₹14,904 per lot at the upper price band). Proceeds will fund expansion of manufacturing capacity and working capital needs.

Borana Weaves’ strong subscription and premium hint at a blockbuster debut, making it one of the most watched IPOs this season.

Sources: Business Standard, Groww, IPOWatch, Upstox, Chittorgarh