Borana Weaves to raise ₹145 crore via IPO

Borana Weaves shares will be listed on the BSE and NSE

Borana Weaves, leading producer of unbleached synthetic grey fabric, plans to raise ₹145 crore through initial public offering, which opens on Tuesday while the anchor bidding will open on Monday.

The company has priced the issue at ₹205-₹216 a share.

The shares will be listed on theBSE and NSE.

The proceeds from the IPO will be used to finance the cost of establishing a new manufacturing unit to expand its production capabilities to produce grey fabric at Surat in Gujarat, funding incremental working capital requirements and for general corporate purposes.

The company has appointed Beeline Capital Advisors as the Book Running Lead Managers and KFIN Technologies as the Registrar.

Mangilal Ambalal Borana, Chairman and Managing Director, Borana Weaves said the proceeds from the IPO will be used to expand capacity and address working capital needs.

The IPO aligns with the long-term strategy of scaling operations while maintaining focus on product quality and operational efficiency.

In FY24, the company achieved a revenue of ₹199 crore, EBITDA of ₹41 crore and net profit of ₹24 crore.

As of December-end, the company achieved a revenue of ₹212 crore, EBITDA of ₹46 crore and net profit of ₹29 crore.

Published on May 16, 2025