Initial Public Offering of Borana Weaves Limited Successfully Closed

VMPL
Mumbai (Maharashtra) [India], May 23: Borana Weaves Limited has concluded its Initial Public Offering with an overall subscription of 148.78 times. The issue saw participation from various investor categories, including Qualified Institutional Buyers subscribed 87.21 times, Non-Institutional Investors subscribed 237.42 times, and Retail Individual Investors subscribed 200.53 times. The company has raised approximately Rs11,856.62 crore through the offering. The proceeds will be used for purposes stated in the offer document.
Beeline Capital Advisors Private Limited is the Book Running Lead Managers to the Issue, while KFIN Technologies Limited is Registrar to the Issue.
About Borana Weaves Limited:
Borana Weaves Limited (The Company, Borana) is a textile manufacturer headquartered in Surat specializing in the production of unbleached synthetic grey fabric. This fabric serves as a fundamental material for further processing, such as dyeing and printing, in various industries, including fashion, traditional textiles, technical textiles, home decor, and interior design. The versatility of grey fabric allows it to complement a wide range of unbleached fabrics across different styles, making it a valuable resource in the textile supply chain.
Since commencing operations in 2021, the company has expanded to three manufacturing units in Surat, equipped with 15 texturizing machines, 6 warping machines, 700 water jet looms, and 10 folding machines.
With the global end-use market for man-made fibers expected to expand by 3.7% by 2025, the Indian synthetic textile industry is well-positioned to benefit, with growth opportunities in both domestic consumption and exports (Source: D&B Report). Our majority customer base (comprising of wholesalers) in Gujarat has contributed to our growth. With our office, manufacturing units, and operational activities also based in this state, we have endeavoured to foster strong connections with our customers. Our direct presence in the region has helped us deliver products to our customers.
In FY24, the Company achieved a revenue of Rs 19,905.56 lakhs, EBITDA of Rs 4,117.31 lakhs, & PAT of Rs 2,358.64 lakhs.
As of December 31, 2024, the Company achieved a revenue of Rs 21,161.52 lakhs, EBITDA of Rs 4,603.16 lakhs, & PAT of Rs 2,930.63 lakhs.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)