The shares of  debuted with a premium of 12.5% over its IPO price on Tuesday. The stock listed at Rs 243 on BSE and NSE.

The IPO, which closed on May 22, received a bumper response from investors across all categories. It was subscribed 148.77 times overall, with the retail portion subscribed 200.50 times, NII segment 237.41 times, and QIBs 87.21 times. The strong subscription figures reflect robust investor interest in the company’s synthetic fabric manufacturing business and its expansion plans.

Borana Weaves raised Rs 144.89 crore through a fresh issue of 67.08 lakh shares. The proceeds are being used to set up a new manufacturing facility in Surat, Gujarat, and meet working capital and general corporate needs.

Borana Weaves, incorporated in 2020, is a Surat-based textile manufacturer known for its unbleached synthetic grey fabric and polyester textured yarn (PTY yarn). The company caters to a range of industries, including fashion, traditional textiles, home décor, and technical textiles. Its three manufacturing facilities are equipped with advanced machinery, including 700 water jet looms, which contribute to its high production capacity.