The allotment of shares for the initial public offering (IPO) of Borana Weaves Ltd. is expected to be finalised today (May 23). The Surat-based textile manufacturer saw an overwhelming response from investors, with the issue being subscribed 148.77 times on the final day of bidding, May 22.

Non-institutional investors led the demand, subscribing a massive 237.42 times their allotted portion, as per data from the National Stock Exchange (NSE). Retail investors also showed strong interest, bidding 200.53 times their reserved quota. Meanwhile, Qualified Institutional Buyers (QIBs) subscribed 87.21 times.

The IPO’s bidding window opened on Tuesday, May 20. Borana Weaves shares are scheduled to be listed on both the BSE and NSE.

Beeline Capital Advisors Pvt Ltd is serving as the book-running lead manager for the Borana Weaves IPO, while Kfin Technologies Ltd has been appointed as the registrar for the issue.

Borana Weaves IPO: How To Check Allotment Status

Investors can find out the allotment status of the Borana Weaves IPO by visiting the official websites of Kfin Technologies, BSE or NSE.

Check Borana Weaves IPO Allotment Status On KfinTech

  • Visit the KfinTech IPO allotment page —https://kosmic.kfintech.com/ipostatus/.

  • From the dropdown menu, choose ‘Borana Weaves’ as the IPO name.

  • Select one of the available identification options – PAN number, Application number or DP ID/client ID.

  • Enter the details based on the option you selected.

  • Click on the ‘Search’ button.

  • Your IPO allotment status will be displayed on the screen.

Check Borana Weaves IPO Allotment Status On NSE

  • Visit the NSE IPO allotment page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

  • Select ‘Borana’ from the IPO name dropdown menu.

  • Choose one of the options – PAN number or Application number.

  • Enter the required details based on your selection.

  • Click on the ‘Submit’ button.

  • Your IPO allotment status will be displayed on the screen.

Check Borana Weaves IPO Allotment Status On BSE

  • Go to the BSE IPO allotment page at https://www.bseindia.com/investors/appli_check.aspx

  • Select issue type as Equity.

  • From the dropdown menu, select ‘Borana Weaves’ as the issue name.

  • Choose your preferred option – PAN number or Application number.

  • Enter the relevant details based on your selection.

  • Click the ‘Search’ button.

  • Your allotment status will appear on the screen.

After the allotment of shares is finalised on May 23, refunds will be initiated for unsuccessful applicants, and shares will be credited to the demat accounts of successful bidders on May 26. The company’s shares are expected to be listed on the stock exchanges on May 27.

⁠Borana Weaves IPO GMP Today

The grey market premium (GMP) for Borana Weaves IPO was Rs 40, as of 5:05 a.m. on May 23, according to InvestorGain. Taking the upper price band of Rs 216 into account, the estimated listing price is likely to be Rs 256, indicating a potential listing gain of 18.52% per share.

Note: GMP is not an official source of data and is based on speculation.

Borana Weaves Use Of IPO Proceeds

Borana Weaves intends to use the net proceeds from its IPO to set up a new manufacturing facility in Surat, Gujarat, to boost its grey fabric production capacity. The funds will also support increased working capital needs and cover general corporate expenses.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.The latest grey market premium (GMP) for Borana Weaves IPO was Rs 40 on May 23, indicating a potential listing gain of 18.52% per share.  Read MoreIPOs 

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