Borana Weaves IPO
Borana Weaves Limited (BORANA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 27 May 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +74.7% (likely range +16% to +90%), day's high +82.2%, chance of a gain 97%. Actual: +12.5% at the open, +18.1% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 20,12,457 | 17,55,11,298 | 87.2x | |
| NII (HNI) total | 10,06,200 | 23,88,90,213 | 237x | |
| Big NII (above ₹10 lakh) | 6,70,800 | 16,08,14,574 | 240x | |
| Small NII (₹2-10 lakh) | 3,35,400 | 7,80,75,639 | 233x | |
| Retail | 6,70,800 | 13,45,15,914 | 201x | |
| Total | 36,89,457 | 54,89,17,425 | 149x |
Bids on NSE and BSE together, as published by NSE, as of 22 May 2025, 07:00 PM. Shares offered exclude the anchor portion. 21% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Borana Weaves's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| BLS E- ServicesFeb 2024 | 123x | 300x | 237x | 162x | ₹311 Cr | +125.9% | +171.1% |
| Quadrant Future TekJan 2025 | 133x | 255x | 247x | 187x | ₹306 Cr | +27.6% | +53.1% |
| Unicommerce eSolutionsAug 2024 | 139x | 252x | 131x | 168x | ₹277 Cr | +117.6% | +137.0% |
| Motisons JewellersDec 2023 | 157x | 234x | 122x | 160x | ₹154 Cr | +98.2% | +99.6% |
| Diffusion EngineersSep 2024 | 95.7x | 208x | 85.6x | 114x | ₹158 Cr | +15.2% | +20.9% |
| Exicom TelesystemsFeb 2024 | 122x | 153x | 120x | 130x | ₹480 Cr | +86.6% | +93.3% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Beeline Capital Advisors | 6 | +30.4% | 100% |
Offer documents (NSE)
Frequently asked
What is the Borana Weaves IPO price band and lot size? ₹205–216 per share, with a lot of 69 shares, so the smallest retail bid is ₹14,904.
How many times has it been subscribed? 149x overall: QIB 87.2x, NII 237x, retail 201x.
How did it list? It opened at ₹243, +12.5% against the issue price of ₹216, and closed its first day +18.1%.
