Borana Weaves Ltd Shares Skyrocket Post IPO Launch

Shares of Borana Weaves Ltd saw an impressive surge, closing 18% higher than their issue price of Rs 216, on both BSE and NSE. The IPO was highly popular, subscribed 148.77 times, highlighting strong market interest in the company's high-quality microfilament woven fabrics.

Shares of Borana Weaves Ltd, known for its high-quality microfilament woven fabrics, soared in value on Tuesday. The stock closed approximately 18% higher than its issue price of Rs 216.

On both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), the shares opened at Rs 243 and surged to a closing of Rs 255, marking their upper circuit limit. This follows an enthusiastic market reception of Borana Weaves' initial public offering (IPO), which was subscribed an impressive 148.77 times last week.

The IPO, valued at Rs 144.89 crore, offered a price range of Rs 205-216 per share.

(With inputs from agencies.)