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Borana Weaves IPO News, Upcoming IPOs: Surat, Gujarat-headquartered Borana Weaves is all set to launch an initial public offer (IPO) on Tuesday, May 20. The IPO will comprise fresh issuance worth almost Rs 145 crore. If successful, the Borana Weaves IPO will lead to the listing of the company's stock on exchanges BSE and NSE.

The mainboard IPO comes after a gap of roughly three weeks.  

Here are 10 things to know about the upcoming Borana Weaves IPO:  

The IPO will open for subscription on May 20 and close on May 22. 

Bidding will be available during normal IPO hours, from 10 am to 5 pm on the three trading days. 

The Borana Weaves IPO will undergo allotment tentatively on May 23. 

The listing of Borana Weaves shares on the stock exchanges is likely tentatively on Tuesday, May 27. 

ALSO READ: NSE denies seeking government's intervention for its IPO

Under the three-day IPO window, Borana Weaves shares will be available for bidding in a price range of Rs 205-216 per equity share, in multiples of 69 shares. 

At the given price band, the lot size of 69 stocks translates to Rs 14,145-14,904 per lot. 

While 75 per cent of the issue is reserved for qualified institutional buyers (QIBs), 10 per cent is reserved for retail investors and 15 per cent for non-institutional investors (high-net worth individuals), according to the offer documents.

Headquartered in Surat, Gujarat, Borana Weaves is a manufacturer of unbleached synthetic grey fabric, a product used in several industries ranging from fashion to home decor. 

Borana also makes polyester textured yarn, also known as PTY yarn, a key raw material used in the production of grey fabric. 

The company also operates in the business of unbleached synthetic grey fabrics for the B2B segment. 

The last mainboard IPO on Dalal Street was Ather Energy's, which concluded on April 30. 

The Rs 2,981-crore public offer registered a total subscription of 1.5 times the equity on offer, with the QIB, NII and RII portions booked 1.8 times, 70 per cent and 1.9 times, respectively, according to exchange data.

It has been a relatively muted year for IPOs on Dalal Street, with 11 mainboard and 36 SME IPOs so far in comparison to 90 mainboard and 68 SME IPOs in 2024. 

Meanwhile, the headline index Nifty50 is still about 5.0 per cent below its all-time high of late September, denting the sheen of the IPO market. 

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