Borana Weaves IPO Allotment Finalized, Listing Set for May 27
By ScanX News Team
Borana Weaves, a textile company, has completed its IPO allotment process for a ₹145.00 crore offering. The IPO was oversubscribed 149.00 times, with retail investors showing particular enthusiasm at over 200.00 times subscription. Non-Institutional Investors subscribed 237.42 times and Qualified Institutional Buyers 87.20 times. The IPO had a price band of ₹205.00-216.00 per share. The company is set to list on both BSE and NSE on May 27.
*this image is generated using AI for illustrative purposes only.
Borana Weaves , a textile company, has reached a significant milestone in its initial public offering (IPO) journey. The allotment for the company's ₹145.00 crore IPO is being finalized today, May 23, marking a crucial step towards its public listing.
Strong Investor Interest
The IPO has garnered substantial interest from investors across various categories, resulting in an impressive overall subscription rate of 149.00 times. This strong demand indicates high investor confidence in Borana Weaves' potential.
Breaking down the subscription details:
| Investor Category | Subscription Rate |
|---|---|
| Retail Portion | Over 200.00 times |
| Non-Institutional Investors (NII) | 237.42 times |
| Qualified Institutional Buyers (QIB) | 87.20 times |
The retail portion, in particular, saw overwhelming interest with a subscription rate of over 200.00 times, suggesting strong enthusiasm among individual investors.
IPO Details
The Borana Weaves IPO had a price band of ₹205.00-216.00 per share, aiming to raise ₹145.00 crore.
Key Dates for Investors
For successful bidders, here are the important dates to note:
- May 23: IPO share allotment finalization
- May 27: Borana Weaves is scheduled to make its debut on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE)
Looking Ahead
The strong oversubscription across all investor categories could potentially lead to a positive listing for Borana Weaves. However, it's important to note that IPO subscription rates don't guarantee stock performance post-listing.
As Borana Weaves prepares for its market debut, investors and market watchers will be keen to see how the stock performs in its initial days of trading. The listing will not only provide liquidity to existing shareholders but also offer an opportunity for new investors to participate in the company's growth story.
Investors who have applied for the IPO are advised to check their application status and prepare for the upcoming listing. As always, it's recommended that investors make informed decisions based on their financial goals and risk tolerance.
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