Borana Weaves IPO Price: ₹205 to ₹216 per share
IPO Dates: 20th May 2025 – 22nd May 2025
Company Overview
As the Indian textile industry continues to evolve, one Surat-based company is making its mark through consistent growth and a focused product line. Incorporated in 2020, this emerging textile manufacturer has quickly scaled operations to become a recognized producer of unbleached synthetic grey fabric and polyester textured yarn (PTY Yarn)—both essential inputs in various downstream textile processes. With its strategic presence in Gujarat’s textile hub, the company is well-positioned to benefit from the growing demand for synthetic fabrics across fashion, home décor, technical textiles, and traditional garments.
Manufacturing Facilities
The company operates three manufacturing units in the Hojiwala Industrial Estate in Sachin, Surat. These units span over 17,000 sq. m. combined and are equipped with modern textile technologies, including:
- 15 texturizing machines
- 6 warping machines
- 700 water jet looms
- 10 folding machines
All facilities have been designed with operational efficiency in mind and use machinery supplied by reputable domestic and international vendors. Production began at Unit 1 in 2021, and today, all three units support scalable, high-volume manufacturing.
Products & Services
The company focuses on the production of:
- Unbleached synthetic grey fabric: A base fabric used for dyeing, printing, and finishing by other textile businesses. It caters to sectors such as fashion, home décor, traditional and technical textiles.
- Polyester Textured Yarn (PTY Yarn): Made by processing Polyester Oriented Yarn (POY Yarn), this yarn is integral to fabric production and widely used in the weaving sector.
With its core product portfolio, the company serves as a vital link in the textile value chain, providing raw materials that are further enhanced by dyeing and finishing units across India.
Industry Trends
The Indian textile market is witnessing a significant shift toward synthetic fibres, especially polyester, due to their affordability, durability, and ease of maintenance. According to industry reports, India’s polyester demand stands at around 4 million tonnes and is projected to reach 6.7 million tonnes by 2025. Additionally, global demand for man-made fibres is expected to grow by 3.7% by 2025, highlighting the increasing relevance of synthetic textiles in both domestic and export markets.
Changing fashion trends, growing brand consciousness, and the rapid evolution of consumer preferences are further propelling the use of synthetic fabrics. This broader shift aligns well with the company’s core offerings and opens new avenues for growth.
Customer Base
The company’s primary customer base includes wholesalers located in Gujarat, particularly in and around Surat. This regional focus has helped the company build strong, long-term relationships with its customers. With all manufacturing units and its corporate office located in Gujarat, the company has ensured efficient delivery and faster turnaround times, which contribute to customer retention and satisfaction.
Being directly embedded in the ecosystem allows the company to stay closely connected with the needs of its buyers, leading to consistent demand and repeat orders.
Competitive Strengths
What sets the company apart in a competitive landscape is:
- Strategic Location: Based in Surat, Gujarat—a leading textile hub—ensuring proximity to suppliers and customers.
- Strong Infrastructure: Rapid expansion from one to three fully equipped units within just a few years.
- Established Customer Base: A growing clientele of wholesalers across Gujarat, enabling direct relationships and smooth distribution.
- Rising Demand for Synthetics: With India’s polyester demand on the rise, the company is positioned to meet market needs with its focused product line.
- End-to-End Integration: Control over both yarn and grey fabric production ensures quality, consistency, and cost-efficiency.
Bidding Starts In
Borana Weaves IPO Specifics:
| IPO Date | May 20, 2025 to May 22, 2025 |
| Listing Date | Tuesday, May 27, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹205 to ₹216 per share |
| Lot Size | 69 Shares |
| Total Issue Size | 67,08,000 shares (aggregating up to ₹144.89 Cr) |
| Fresh Issue | 67,08,000 shares (aggregating up to ₹144.89 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 1,99,37,295 shares |
| Share Holding Post Issue | 2,66,45,295 shares |
Borana Weaves IPO Timetable (Important Dates)
| IPO Open Date | Tuesday, May 20, 2025 |
| IPO Close Date | Thursday, May 22, 2025 |
| Basis of Allotment | Friday, May 23, 2025 |
| Initiation of Refunds | Monday, May 26, 2025 |
| Credit of Shares to Demat | Monday, May 26, 2025 |
| Listing Date | Tuesday, May 27, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 22, 2025 |
Borana Weaves IPO Lot Size
Bidders have the opportunity to bid for a minimum of 69 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| 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 Reservation
| QIB Shares Offered | Not more than 75% of the Net offer |
| Retail Shares Offered | Not less than 10% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Borana Weaves Limited IPO Financial Information
| Period Ended | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 | 31 Dec 2024 |
|---|---|---|---|---|
| Assets | 31.90 | 74.98 | 137.05 | 149.67 |
| Revenue | 42.36 | 135.53 | 199.60 | 215.71 |
| Profit After Tax | 1.80 | 16.30 | 23.59 | 29.31 |
| Net Worth | 1.81 | 24.11 | 47.39 | 76.55 |
| Reserves and Surplus | 1.80 | 24.07 | 47.66 | 56.87 |
| Total Borrowing | 27.31 | 38.89 | 69.10 | 54.03 |
Key Performance Indicator – Borana Weaves IPO
| KPI | Values |
|---|---|
| Market Cap | ₹ 575.54 Cr |
| EPS | ₹11.83 |
| P/E (x) | 18.26 |
| ROE | 49.45% |
| ROCE | 27.42% |
| RoNW | 49.77% |
Objects of the Issue:
Borana Weaves plans to utilize the net proceeds from its IPO for the following purposes:
- Setting up a new manufacturing unit in Surat, Gujarat, to enhance its production capacity for grey fabric.
- Meeting additional working capital requirements.
- Addressing general corporate needs.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
