Mumbai, May 23 -- The initial public offer of Borana Weaves received bids for 54,89,17,425 shares as against 36,89,457 shares on offer. The issue was subscribed 148.78 times.

The Non-Institutional Investors (NIIs) category was subscribed 237.42 times. The Retail Individual Investors (RIIs) category was subscribed 200.53 times. The Qualified Institutional Buyers (QIBs) category was subscribed 87.21 times.

The issue opened for bidding on 20 May 2025 and it closed on 22 May 2025. The price band of the IPO is fixed between Rs 205 and 216 per share.

Out of the proceeds from the fresh issue, Rs 71.35 crore will be used to finance the cost of establishing a new manufacturing unit to expand its production capabilities to produce grey fabric at...