Phenomenal Response: Borana Weaves IPO Subscribed 148.77 Times
Borana Weaves, a leading microfilament woven fabric producer, achieved significant success as its IPO was oversubscribed by 148.77 times on the final bidding day. The IPO, with a price range of Rs 205-216 per share, saw high demand, especially from non-institutional investors and retail individual investors.
- Country:
- India
The IPO of Borana Weaves, a distinguished manufacturer of microfilament woven fabrics, witnessed an unprecedented subscription rate of 148.77 times by the close of bidding on Thursday. This exceptional demand underscores the immense investor interest in the company.
Official data from the NSE indicates that the Rs 144.89-crore IPO attracted massive bids totaling 54,88,84,443 shares against the offered 36,89,457 shares. Highlighting the strength of the response, the segment reserved for non-institutional investors was oversubscribed 237.41 times, while the retail investor quota secured 200.50 times subscription.
Meanwhile, the qualified institutional buyers' category was also fervently pursued, reaching 87.21 times subscription. Under the guidance of Beeline Capital Advisors, the offering presented up to 67,08,000 equity shares priced between Rs 205-216 each.
(With inputs from agencies.)
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