Borana Weaves Limited Prepares for IPO: Expanding Horizons in Synthetic Grey Fabric

Borana Weaves Limited is gearing up for an IPO, aiming to issue up to 70 lakh equity shares. This move intends to fund a new manufacturing unit in Surat, Gujarat, enhancing their production of synthetic grey fabric, and support growing working capital and corporate requirements.

Borana Weaves Limited, a prominent name in synthetic grey fabric production, has submitted its Draft Red Herring Prospectus to SEBI as it gears up for an IPO. The company plans to issue up to 70 lakh equity shares, each priced at Rs10, focusing on a Fresh Issue.

The proceeds from this IPO are earmarked for establishing a new manufacturing facility in Surat, Gujarat. This strategic expansion aims to boost Borana's production capabilities significantly. Additionally, the company seeks to enhance its working capital and meet other corporate needs.

Financially, Borana reported substantial figures, with revenues of Rs 19,905.56 lakhs, EBITDA of Rs 4,117.31 lakhs, and PAT of Rs 2,358.64 lakhs as of March 31, 2024. For the subsequent period ending September 30, 2024, revenues were Rs 13,303.48 lakhs, EBITDA Rs 2,794.36 lakhs, and PAT Rs 1,790.42 lakhs.

(With inputs from agencies.)