Borana Weaves Ltd IPO
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Borana Weaves Ltd IPO Details
Details
Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
---|---|---|---|---|---|
₹ 67.08 L | TBA | ₹ 6.71 L | ₹ 173.83 L | BSE | ₹ 144.89 Cr |
IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
20 May, 25 | 22 May, 25 | 69 | ₹ 14,145 | Book Building | 27 May, 25 |
Borana Weaves Ltd IPO Dates
Details
Sector | Type |
---|---|
Sector | Textiles - Processing |
Sub Sector | NA |
Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
---|---|---|---|
QIB | 34.89x | 5031000 | 175511298 |
NII | 237.42x | 1006200 | 238890213 |
Retail | 200.53x | 670800 | 134515914 |
Employee | 0x | 0 | 0 |
Total | 81.83x | 6708000 | 548917425 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Borana Weaves Ltd Financial Status
Income Statement
Balance Sheet
Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
---|---|---|---|
Revenue from operations | 37.54 | 23.98 | 3.81 |
EBITDA | 46.69 | 28.07 | 5.43 |
PAT | 23.59 | 16.30 | 1.80 |
Total Assets | 52.93 | 34.99 | 13.77 |
Share Capital | 0.04 | 0.04 | 0.01 |
Total Borrowings | 87.11 | 46.01 | 23.90 |
Operating Activities (Net Cash) | 32.74 | 20.39 | 3.42 |
Investing Activities (Net Cash) | 0.45 | 0.78 | 0.59 |
Financing Activities (Net Cash) | 87.11 | 46.01 | 23.90 |
Net Cashflow | 0.01 | 0.09 | 0.02 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Borana Weaves Ltd
Our Company was originally incorporated as `Borana Weaves Private Limited' as a private limited company under the Companies Act,2013 pursuant to a certificate of incorporation dated October 28, 2020 issued by the Registrar of Companies, Central Registration Centre.Subsequently, our Company was converted from a private limited company to a public limited company, pursuant to resolution passed byour Board of Directors in their meeting held on July 18, 2024 and a special resolution passed by our Shareholders in the Extra-OrdinaryGeneral meeting held on July 20, 2024 and the name of our Company was changed to `Borana Weaves Limited' and a fresh certificate ofincorporation dated September 24, 2024 was issued by the Registrar of Companies, Central Processing Centre.
India's textile industry, a key player in the global market, saw its textile exports reach over USD 44 billion in FY 2022,representing about 15% of the country's total export earnings and 4.6% of global textile trade. The sector's exports areled by ready-made garments, cotton textiles, and increasingly by man-made fibers. Major markets include the UnitedStates, the European Union, Bangladesh, the UK, and the UAE. Growth is driven by rising global demand, supportivegovernment initiatives like the Production Linked Incentive (PLI) scheme, and India's diverse product range. (Source:D&B Report) For further details in relation to the industry in which our Company operates, see Industry Overview on page140.The synthetic fabric industry in India has demonstrated significant variability in production over the past few years,reflecting the sector's adaptability to changing market conditions. As a pivotal segment of the textile industry, syntheticfabric plays an essential role in meeting diverse consumer demands and contributing to economic growth. The industry'sperformance is indicative of broader market trends, technological advancements, and shifts in consumer preferences. In the fiscal year 2018-19, production was robust at 95,897 thousand metric tons. However, this was followed by a slightdecline in 2019-20 to 92,452 thousand metric tons. The downturn continued into 2020-21, with production dropping to83,296 thousand metric tons, a trend attributed to the global disruptions caused by the COVID-19 pandemic. Despitethese challenges, the industry showed resilience, with a Compound Annual Growth Rate (CAGR) of approximately5.19% over the period from 2018-19 to 2023-24, reflecting a steady recovery and growth trajectory.
Our Company is a textile manufacturer based 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 d'cor, and interior design. The versatility of grey fabricallows it to complement a wide range of unbleached fabrics across different styles, making it a valuable resource in thetextile supply chain. (Source: D&B Report). In addition to grey fabric, our Company also manufactures polyester texturedyarn (PTY Yarn), which is produced by heating polyester oriented yarn (POY Yarn), our raw material used in theproduction of grey fabric.
Peer Comparison:
- No Listed Industry Peers
Borana Weaves Ltd IPO Key Points
Strengths
- Market position in grey fabric and Polyester Textured Yarn (PTY) manufacturing.
- Investment in highly efficient water jet looms capable of producing flawless fabric in both quality and quantity; fully integrated manufacturing units established in strategic location
- Delivering strong financial and operating metrics.
- Experienced Promoters with execution capabilities.
Risk
- Any failures to obtain approval/licenses or permits to operate the Proposed Unit 4, may adversely affect its business, financial condition, cash flows and results of operations.
- As of December 31, 2024, more than 98% of its revenue from the company customers is derived from customers based in Gujarat and the company does not have long-term agreements with them. Any changes or cancellations of purchase orders from them or its inability to forecast demand for its products may adversely affect its business, results of operations and financial condition.
- Its Registered and Corporate Office, manufacturing units, and 90.00% of suppliers of its raw material, POY Yarn, as of the nine months period ended December 31, 2024 are majorly located in Gujarat exposing it to regulatory and other geography specific risks such as labour unrests, terrorist attacks, other acts of violence and occurrence of natural and man-made disasters which may affect the state of Gujarat.
Strategy
- Capturing market opportunities in the growing synthetic fibre industry.
- Increase wallet share with existing customers and continued focus to expand customer base.
- Leveraging water jet loom technology for expanding into technical textiles.
- Market position in grey fabric and Polyester Textured Yarn (PTY) manufacturing.
- Investment in highly efficient water jet looms capable of producing flawless fabric in both quality and quantity; fully integrated manufacturing units established in strategic location
- Delivering strong financial and operating metrics.
- Experienced Promoters with execution capabilities.
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Step 2:
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Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.