Borana Weaves Listing Price: Earlier, Borana Weaves’ preliminary public offering (IPO) acquired an outstanding response from consumers and was subscribed 148.77 situations on the closing day of bidding.
Borana Weaves Listing Price: Shares of Borana Weaves made a constructive debut on #Dalal Street as we converse, i.e on May 27, 2205, as they listed at a Rs 243 on the National Stock Exchange (NSE) and BSE, a premium of 12.50 per cent to the issue price of Rs 216.
Earlier, the preliminary public offering (IPO) of Borana Weaves acquired good response from consumers and was subscribed 148.77 situations on the closing day of bidding. According to NSE info, the Rs 144.89-crore preliminary share sale acquired bids for 54,88,84,443 shares in the direction of 36,89,457 shares on present.
Borana Weaves, producer of high-quality microfilament woven supplies, had mounted the value band at Rs 205-216 per share for its preliminary public offering of as a lot as 67,08,000 equity shares.
Beeline Capital Advisors was the book-running lead supervisor to the present.
The IPO was absolutely a recent concern of as a lot as 67.08 lakh equity shares, as per the purple herring prospectus.
According to the company, the proceeds from the IPO is perhaps utilised to finance the value of creating a model new manufacturing unit to extend capabilities to provide grey materials at Surat, Gujarat, funding incremental working capital requirements, and for widespread firm capabilities.
Borana Weaves was included in 2020 and is engaged throughout the manufacturing of unbleached synthetic grey materials.
This materials serves as a elementary supplies for added processing, much like dyeing and printing, in quite a few industries, along with model, standard textiles, residence decor, and inside design.
The constructive debut for the shares of the Borana Weaves comes on a day equity benchmark indices, Sensex and Nifty, tumbled in early commerce, dragged lower by IT shares and weak Asian market traits.
The 30-share BSE benchmark gauge Sensex tumbled 460.38 elements to 81,716.07 in early commerce. The NSE Nifty shed 162.05 elements to 24,839.10.
Later, the BSE benchmark traded 627.86 elements lower at 81,548.59, and the Nifty quoted 178 elements down at 24,807.95.
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