Borana Weaves IPO Upcoming
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Schedule of Borana Weaves
| Issue open date | 20 May 2025 |
| Issue close date | 22 May 2025 |
| UPI mandate deadline | 22 May 2025 (5 PM) |
| Allotment finalization | 23 May 2025 |
| Refund initiation | 26 May 2025 |
| Share credit | 26 May 2025 |
| Listing date | 27 May 2025 |
| Mandate end date | 06 Jun 2025 |
| Lock-in end date for anchor investors (50%) | 22 Jun 2025 |
| Lock-in end date for anchor investors (remaining) | 21 Aug 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Borana Weaves
Borana Weaves, incorporated in 2020, is a textile manufacturer based in Surat, Gujarat, engaged in the production of unbleached synthetic grey fabric and polyester textured yarn (PTY Yarn). Its products are used as base materials across sectors such as fashion, traditional textiles, technical textiles, and home décor. The company operates three manufacturing units equipped with machinery for texturizing, warping, weaving, and folding. As of September 30, 2024, it served 146 customers and operated 15 texturizing machines, 6 warping machines, 700 water jet looms, and 10 folding machines, primarily catering to clients within Gujarat.
Financials of Borana Weaves
*All figures are in ₹ Crores.
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹144.89 crores |
| Fresh Issue | ₹144.89 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Establish new manufacturing unit | 71.34 (49.23%) |
| Working capital requirements | 26.50 (18.28%) |
| General corporate purposes | – |
Strengths
- Strategically located in Surat, a key textile hub
- 700 active water jet looms ensure consistent fabric quality
- Promoters with 20+ years of industry expertise
- Efficient supply chain with domestic and global sourcing
- Scalable capacity to meet rising demand in synthetic textiles
Risks
- High customer concentration in Gujarat without long-term agreements
- Risk of order changes or cancellations affecting operations and revenue
- Heavy reliance on grey fabric sales and pricing
- Capital-intensive industry requiring significant financing for growth
- Dependence on unsecured borrowings repayable on demand
- Dividends payouts are uncertain