Borena wears IPO: Initial public offering (IPO) in Borena Weaves limited third and last day of bidding on Thursday, May 22, after witnessing interest invested in the first two days. Up to 11:24 am on day 3, the issue oversubscribed 50.34 times, with total bids received for 18,57,29,29,29,29,29,29,293 aspects.
Eligible features of institutional buyers (qibs) subscribed to 1.99 times, received bids for 40,14,006 part of a 20,12,457 part. The part of non-institutional investors (NIIs) recorded an impressive subscription of 103.69 hours given in 10,44,200 parts of this category. Retail Individual Investors (RIIS) continued their strong show of interest, subscribing their portion by 115.33 times, with 7,73,64,801 shares bid for as against the 6,70,800 shares earmarked for them.
Borena wore IPO Day 2: Subscription status
On the second day of bidding, at 4:57 pm, data from BSE shows that the issue subscribed to 29.44 times in total. Sellers of sellers and non-institutionals are the most active participants. Investors in the tyrant are lonely bid for over 5.16 parts of crore against 6.70 parts of the lakh reserved for them, which means their partially subscribed for more than 77 times.
Non-institutional investors also showed a lot of interest, applying more than 5.33 parts of the crore against a small 10 lakh of offer – a 53 times oversubscription. Even institutional investors are not far away, bid on about 35.46 parts of the lakh vs. 20.12 spent by Lakh, pushing their share of 1,76 times subscription.
Borena wears IPO: price band, different from Lot, Said Timeline & More
This IPO is a perfect recent issue, means no existing shareholders are selling their stake. The company offers 67 lakh new features. In addition to the general offer, 75 percent are reserved for institutional purchasers, 15 percent for non-institutional investors, and 10 percent for retailers.
The price band is set between Rs 205 and Rs 216 per part. For investors together, the minimum application size is a large number of 69 parts, about Rs 14,904 at the top of the band. Investors in the wait can apply up to 13 typical or 897 parts costs about Rs 1.93 lakh. The basis of allotting is likely to expire on Friday, May 23, with patterned parts credited to Demat accounts on Monday, May 26.
Stock is scheduled to list NSE and BSE on Tuesday, May 27
Borena Waaves Ipo: Using Profits
Company plans to use money obtained from IPO to set up a new unit to make Surat, Gujarat. This unit can help Bora Weaves expand the capacity to make gray cloth. Apart from this, some of the funds will be used for working on capital requirements and corporate costs.
The Borena Weaves Company Company Students
Borena Waaves, built by 2020 and Surat-based, makes a gray telecommunication, used in household goods, technical fabrics. It also produces textured textures, a significant material used to make gray cloth. The company is currently running three units to make the Surat. On September 2024, its facilities have 15 texturising machines, six warping machines, 700 jet gloms, and 10 fabric machines.
Financial Snapshot
The company has grown as easily financially. Its Total Assets Stood at Rs 149.67 Crore by December 2024, up from Rs 137.05 crore in March 2024 and RS 74.98 crore in March 2023. For the Nine Months Ending December 2024, IT CLOCKED REVENUE OF RS 215.71 CRORE ALREADY MORE THAN THE RS 199.60 crore it earned in all of FY24. Income after taxes come on Rs 29.31 crore for nine-month period, compared to Rs 23.59 crore of FY24 and Rs 16.30 crore at FY23. Net amounts risen by Rs 76.55 crore at the end of 2024, while reserves grow in Rs 56.87 crore. Important, the company also brought overall borrowing of Rs 54.03 crore on December 2024 from Rs 69.10 crore in March.
