Today, Borana Weaves IPO Allotment: Today, May 23, in the evening, the allocation of the Borana Weaves initial public offering (IPO), which ended on May 22 with an incredible 147.85 times subscription, is set to be finalized. Investors will begin receiving bank debit notices when everything is finalized. Additionally, they may monitor the IPO allocation status online at the BSE and NSE websites, as well as on the webpage of registrar Kfin Technologies Ltd.
Between May 20 and May 22, the IPO was available for public subscription. It obtained a 147.85-fold subscription, with bids for 54,549,930,303 shares, compared to the 36,894,57 shares that were available. The participation rates for NII and retail were 237.41 and 200.50 times, respectively. The group of qualified institutional buyers (QIBs) received 85.53 times as many subscriptions.
The initial public offering (IPO) price was set at Rs 216 per share.
How Can I Check My Online Allotment Status for Borana Weaves’ IPO?
It is anticipated that the IPO allotment will occur this evening, May 23. Investors may use these procedures to verify the allocation status after it has been distributed:
Step 1: Go to https://ipostatus.kfintech.com/, the website of Kfin Technologies.
Step 2: Choose “Borana Weaves Ltd.” as the business name.
Step 3: Type in your “PAN number,” “Demat Account,” or “application number/CAF No.”
Step 4: Type the Captcha in.
Step 5: Select “Submit.”
Your screen will display the status of your sharing application.
As an alternative, you may visit the NSE website to see the Borana Weaves IPO allocation status. https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids is the direct URL.
Today, Borana Weaves IPO GMP
Market watchers report that unlisted shares of Borana Weaves Ltd. are now trading at Rs 256 each, an 18.52 premium (GMP) over the Rs 216 IPO price. On May 27, it is expected to be listed on the NSE and BSE.
The GMP fluctuates and is reliant on market mood. Investors’ willingness to pay more than the issue price is shown by the “grey market premium.”
Additional Information about Borana Weaves’ IPO
The IPO for Borana Weaves is a brand-new offering of 67.08 lakh shares. At Rs 216 per share, its price has been set.
Investors must apply with a minimum lot size of 69. Retail investors are needed to invest a minimum of Rs 14,145. For small NIIs, the minimum lot size investment is 14 lots (966 shares), which comes to Rs 208,656. The minimum amount for a large NII is Rs 10,13,472 for 68 lots (4,692 shares).
The IPO’s proceeds will be used to support additional working capital needs, general business objectives, and the establishment of a new manufacturing facility in Surat, Gujarat, to increase capacity to make grey fabric.
“We have expanded our production capacity in the synthetic textile market during the last several years. Our working capital requirements will be met and our manufacturing infrastructure will be expanded with the aid of the IPO funds. Mangilal Ambalal Borana, chairman and MD of Borana Weaves, said, “This step is in line with our long-term strategy of scaling operations while keeping focus on product quality and operational efficiency.”
Borana Weaves, which was founded in 2020, produced synthetic gray cloth that was not bleached. Fashion, traditional textiles, interior design, and home décor are just a few of the businesses that use this fabric as a basic material for further processing like dyeing and printing.
KFin Technologies is the issue’s registrant, while Beeline Capital Advisors is the book-running lead manager.
The majority of experts recommended “subscribing for long-term” for both the IPO and the listing gains.
