The Borana Weaves IPO 2025 has quickly become one of the most anticipated public listings in India’s textile and manufacturing space.
The Indian IPO landscape in 2025 is buzzing with big names, and one of the most talked-about is Borana Weaves Limited in 2025 is buzzing with big names, and one of the most talked-about is Borana Weaves Limited.
If you’re even remotely interested in the textile or mid-cap manufacturing sector, this one’s likely already on your radar. Known for its quality woven fabrics and a trusted name in the textile value chain, Borana Weaves is stepping into the public market with ambitious plans and promising fundamentals.
In this blog, we’ll break down everything investors need to know about the Borana Weaves IPO—from price band to GMP, company fundamentals, risks, and more.
Borana Weaves IPO Key Dates & Structure
The Borana Weaves IPO IPO is aimed at fueling the company’s expansion and improving financial flexibility.
In this table you can find all the available data about the Borana Weaves IPO launch:
| Event | Date (Expected) |
| Borana Weaves Total Issue Size | 67,08,000 shares (aggregating up to ₹144.89 Cr) |
| Borana Weaves IPO Open Date | Tue, May 20, 2025 |
| Borana Weaves IPO Close Date | Thu, May 22, 2025 |
| Borana Weaves IPO Face Value | ₹10 per equity share |
| Borana Weaves IPO Issue Type | Bookbuilding IPO |
| Borana Weaves IPO Lot Size | 69 Shares |
| Borana Weaves IPO Registrar | Link Intime India Pvt Ltd |
| Borana Weaves IPO Listing Date | – |
| Borana Weaves IPO Listing Platforms | BSE & NSE |
| Borana Weaves IPO Tentative Allotment | Fri, May 23, 2025 |
| Initiation of Refunds | Fri, May 26, 2025 |
| Credit of Shares to Demat Account | Mon, May 26, 2025 |
| Borana Weaves Tentative Listing Dates | Tues, May 27, 2025 |
| DRHP Filing | Filed with SEBI |
| SEBI Approval | Received |
Borana Weaves IPO GMP Trends & Price Band
| Date | GMP (₹) | Price Band (₹) | Expected Listing Price (₹) | Estimated Listing Gain (%) |
| May 16, 2025 | ₹55 | ₹205 – ₹216 | ₹271 | 25.46% |
Note: The expected listing price is calculated by adding the GMP to the upper end of the price band (₹216 + ₹55 = ₹271).
GMP gives a sneak peek into market sentiment ahead of the listing. But remember, it’s not always a reliable indicator of long-term performance.
Similar textile IPOs like Trident Textiles, Monte Carlo, and Vardhman Acrylics saw strong listing gains, suggesting that investors are bullish on quality textile plays with scale.
About Borana Weaves Limited
Founded in 1995, Borana Weaves Limited is part of the Borana Group, a diversified Indian conglomerate. Over the past two decades, it has emerged as a prominent name in woven fabric manufacturing, catering to both the domestic and export markets.
Their product portfolio includes:
- Woven grey fabrics
- Finished fabrics
- Specialized blends including polyester, cotton, and viscose
The company operates from its manufacturing facility in Ahmedabad, Gujarat — one of India’s core textile clusters. It has an annual installed capacity of over 1,200 lakh meters, reflecting scale and efficiency.
Borana Weaves Limited’s clientele includes garment exporters, wholesalers, and major fashion houses across India and Asia. The company prides itself on quality control, sustainability measures, and timely delivery — key drivers in the textile industry.
Company Financials of Borana Weaves Limited
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 139.37 | 137.05 | 74.98 | 31.9 |
| Revenue | 137.08 | 199.6 | 135.53 | 42.36 |
| Profit After Tax | 17.9 | 23.59 | 16.3 | 1.8 |
| Net Worth | 0 | 0 | 0 | 0 |
| Reserves and Surplus | 45.47 | 47.66 | 24.07 | 1.8 |
| Total Borrowing | 66.13 | 76.74 | 42.41 | 22.86 |
| Amount in ₹ Crore | ||||
Financial Observations
- Assets Growth: The company’s assets have increased consistently, growing from ₹31.9 crore in March 2022 to ₹139.37 crore in September 2024, reflecting substantial asset acquisition or appreciation.
- Revenue Fluctuations: Revenue surged from ₹42.36 crore in March 2022 to ₹199.6 crore in March 2024, but it declined to ₹137.08 crore by September 2024, indicating a potential dip in business operations or sales.
- Profit After Tax (PAT): Profit has shown a steady upward trajectory from ₹1.8 crore in March 2022 to ₹17.9 crore in September 2024, despite the revenue drop, suggesting improved cost management or other income streams.
- Net Worth: The company reports zero net worth across all periods, implying high liabilities that offset assets or potential accumulated losses.
- Reserves and Surplus: Reserves and surplus have grown significantly from ₹1.8 crore in March 2022 to ₹45.47 crore in September 2024, indicating retained earnings or injections of capital.
- Total Borrowings: Borrowings have risen from ₹22.86 crore in March 2022 to ₹76.74 crore in March 2024 but decreased to ₹66.13 crore in September 2024, suggesting partial repayment or restructuring of debt.
Key Performance Indicator (KPI)
| KPI | Values |
| ROE | 49.45% |
| ROCE | 27.42% |
| RoNW | 49.77% |
| PAT Margin | 11.85 |
India’s Textile & Weaving Sector in 2025
India’s textile sector is projected to reach ₹28,97,300 crore ($350 billion) by 2030, and woven fabrics form a significant portion of this ecosystem. With the PLI (Production Linked Incentive) scheme and Mega Textile Parks underway, companies like Borana are in the right place at the right time.
Key drivers:
- Booming apparel exports
- Rising global demand for sustainable fabrics
- Government push under ‘Make in India’ and ‘Atmanirbhar Bharat’
India is the second-largest producer of textiles globally, and weaving contributes directly to employment, exports, and GDP. Borana Weaves, with its focused approach, benefits from these tailwinds.
Use of Borana Weaves IPO Proceeds
The Borana Weaves IPO proceeds will be used for:
- Working capital augmentation
- Purchasing new machinery for higher output
- Upgrading quality labs and digital tracking systems
- General corporate purposes
The focus remains on expanding capacity and improving process automation to serve larger export orders.
Strengths & Opportunities
- Established textile player with ~30 years of experience.
- Strategically located manufacturing in Gujarat.
- Diverse product portfolio (woven, synthetic, blend fabrics).
- Growing export share in FY24.
- Clean balance sheet with controlled debt.
- Benefits from India’s textile policy & PLI schemes.
Borana’s edge lies in quality control, cost competitiveness, and supplier credibility.
Risks & Challenges
- Fluctuation in cotton and yarn prices.
- Dependency on export demand (geopolitical risks, trade tariffs).
- Currency risks due to foreign client exposure.
- Labor shortage or wage inflation in textile hubs.
- Competition from low-cost players in Bangladesh, Vietnam.
The company’s future growth will depend on sustained order flow and global macroeconomic stability.
Peer Comparison: Where Does Borana Stand?
| Company | Revenue (₹ Cr) | PAT (₹ Cr) | Valuation | GMP |
| Borana Weaves | 84.3 (FY24 est.) | 6.45 | TBA | ₹15–₹18 |
| Trident | 6,960 | 497 | ₹6,300 Cr | NA |
| Vardhman | 9,200 | 734 | ₹9,800 Cr | NA |
Borana is still a small-cap play, but it’s carving a niche in a high-volume, high-demand segment.
Should You Invest in the Borana Weaves IPO?
The Borana Weaves IPO could appeal to
- Value investors looking at mid-cap industrials.
- Those betting on India’s textile export story.
- Retail investors interested in GMP-based short-term gains.
If priced attractively, Borana Weaves could deliver listing pop and long-term value.
That said:
- Wait for full RHP disclosures
- Monitor QIB/NII demand before applying
- Watch how the final GMP trend evolves closer to the listing date
Final Thoughts
The Borana Weaves IPO is officially here, and it’s already creating quite the buzz. This isn’t just another textile listing; it’s a solid mid-cap player stepping up with nearly three decades of industry experience and a diverse product line that’s all about quality woven fabrics.
With the proceeds aimed at expanding capacity, upgrading machinery, and boosting working capital, Borana is clearly eyeing some serious growth. But before diving in, it’s worth keeping an eye on key risks like input cost volatility, export market dependencies, and the evolving grey market premium.
The GMP is showing some promising signs, but remember, that’s just one part of the story. Whether you’re looking for a quick listing pop or a long-term industrial play, Borana’s IPO is definitely one to watch.
Stay tuned for allotment updates, listing prices, and how the market vibes post-listing.
Will Borana weave its way to the top? Let’s see how it plays out.
FAQs
What is the IPO launch date?
Grey Market Premium (GMP) refers to the price at which shares of an upcoming IPO are traded in the unofficial or “grey” market before their official listing on stock exchanges. This premium indicates the difference between the IPO’s issue price and the price investors are willing to pay in the grey market.
For example, if a company’s IPO is priced at ₹100 per share and the GMP is ₹50, it suggests that investors are ready to buy the shares at ₹150 in the grey market, anticipating a strong listing performance.
What is the IPO size of Borana Weaves Limited?
Borana Weaves Limited is launching a mainboard IPO comprising a fresh issue of 70,00,000 equity shares, each with a face value of ₹10. The total issue size is estimated to be up to ₹580 crore.
What is the IPO listing price?
The IPO listing price is the price at which a company’s shares begin trading on a stock exchange after an initial public offering (IPO). This price is determined on the listing day through a price discovery process during the pre-open trading session, based on the supply and demand for the shares.
It can differ from the issue price, which is the price set by the company and its underwriters before the IPO subscription period.
What is grey market premium?
The Grey Market Premium (GMP) refers to the premium amount at which IPO shares are traded in the unofficial grey market before their official listing on stock exchanges.
For instance, if an IPO is priced at ₹100 and the GMP is ₹20, it suggests that the shares are expected to list at ₹120. GMP serves as an indicator of investor sentiment and anticipated listing performance.
What is the market size textile sector?
India’s textile market reached a size of USD 146.6 billion in 2024. It is projected to grow at a compound annual growth rate (CAGR) of 3.85%, reaching USD 213.5 billion by 2033.
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