Borana Weaves IPO, May 21 -- The initial public offering (IPO) of Borana Weaves received stellar response and got heavily oversubscribed on the first day. Borana Weaves IPO entered its second day of bidding today, May 21.

Borana Weaves is a manufacturer of unbleached synthetic grey fabric. The Gujarat-based company also manufactures polyester textured yarn.

Borana Weaves IPO was subscribed 8.53 times in total on May 20, the first day of the bidding process. The public issue was subscribed 24.96 times in the retail category, 1.55 times in the Qualified Institutional Buyers (QIBs) category, and 11.54 times in the Non Institutional Investors (NII) category, NSE data showed.

With the robust subscription received on the first day of the bid...