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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Capital expenditure for a new manufacturing unit
Establishing a new manufacturing unit (Unit 4) for grey fabric production at Surat.
Working capital requirements
Funding incremental working capital requirements.
General corporate purposes
Funding general corporate purposes of the company.
(₹ in Crore)
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Borana Weaves Limited, incorporated in 2020 and based in Surat, Gujarat, manufactures unbleached synthetic grey fabric and polyester textured yarn. Its grey fabric serves as a base material for further processing such as dyeing and printing, supplying industries including fashion, traditional textiles, technical textiles, and home decor. The company's manufacturing operations are built around water jet looms, which the company has adopted in place of conventional looms to produce smoother, more uniform fabric at lower cost, along with texturizing, warping, and folding machines. The promoters, the Borana family, bring over two decades of experience in the textile industry. Financially, the company grew rapidly from about Rs 42 crore in revenue in FY22 to roughly Rs 200 crore in FY24, with a further nine-month period through December 2024 showing continued growth and improving margins. A large part of the IPO's fresh issue proceeds is earmarked for establishing a new manufacturing unit at Surat alongside funding working capital needs.
Ahead of the issue, the company allocated about 30.19 lakh shares to anchor investors at the upper price band of Rs 216 per share, valued at approximately Rs 65.20 crore.
Source: RHP • Analysis provided for informational purposes
Last Updated: 13 July 2026, 5:30 AM
Modern, efficient manufacturing base
The shift to water jet loom technology has improved fabric quality and cost efficiency versus conventional looms.
Experienced promoter family
The promoters bring over two decades of experience in the textile manufacturing business.
Improving profitability
PAT margins and return on capital employed have both improved markedly since FY22 as the business has scaled.
Strategic location in a textile hub
The company's Surat base gives it proximity to a major synthetic textile manufacturing and sourcing cluster.
Customer and geographic concentration
Revenue is concentrated among customers in Gujarat without long-term supply agreements, creating dependency risk.
Regulatory approval pending for expansion
The company's planned new manufacturing unit required a pending environmental consent-to-establish approval at the time of the issue.
Reliance on unsecured borrowings
The company depends partly on unsecured borrowings that are repayable on demand, creating funding risk.
Borana Weaves Limited
Plot No AA/34, B 16/16, Hojiwala Industrial Estate, SUSML, Sachin, Surat, Gujarat 394230, India
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No dividend history
The company has not paid dividends in the periods covered by the offer document.