Borana Weaves IPO Soars with Overwhelming Subscriptions
On its second day, Borana Weaves' IPO was oversubscribed by 29.46 times. It attracted over 10 million bids against roughly 3.7 million shares available. Retail investors led with 77.16 times subscription, while non-institutional investors followed with 53.07 times, and QIBs subscribed 1.76 times.
- Country:
- India
Borana Weaves, renowned for its high-quality microfilament woven fabrics, witnessed an astounding response to its initial public offer (IPO). By the close of the second day of bidding on Wednesday, the IPO was oversubscribed an impressive 29.46 times, reflecting widespread investor interest.
The Rs 144.89-crore share sale garnered bids for a whopping 10.87 million shares compared to the 3.69 million shares on offer, according to data from the National Stock Exchange (NSE).
Retail Individual Investors (RIIs) showed remarkable enthusiasm with their category fetching 77.16 times subscription. Meanwhile, non-institutional investors subscribed 53.07 times, and the segment for Qualified Institutional Buyers (QIBs) received 1.76 times subscription, solidifying the IPO's success. Beeline Capital Advisors served as the lead manager for this financial offering.
(With inputs from agencies.)
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