Borana Weaves IPO Share Price: The share price of Borana Weaves IPO is listed at a premium of 12.5% each on BSE and NSE. This new textile stock rallied by above 18% on May 27th, compared to its IPO issue price of Rs 216. Expert advises long-term investors to wait and watch Borana Weaves shares.
Borana Weaves Share Price BSE:
On BSE, the stock opened at a 12.5% premium to Rs 243 compared to its IPO issue price of Rs 216. The company's market capitalisation is around Rs 679.72 crore, making it a penny stock on the exchange. The stock is listed for trading and dealings under the T group category.
At the time of writing, Borana Weaves IPO froze at its 52-week high of Rs 255.10 apiece, up by 18.10% from its IPO price. This is also its new 5% upper circuit, which means there are only buyers but no sellers during the second half of trading session.
Borana Weaves Share Price NSE:
Borana listed at 12.5% premium to Rs 243 apiece on NSE as well. Further, locking at its 5% upper circuit, Borana shares are up by 18.13% from its IPO price to trade at Rs 255.15 apiece, which is also its new 52-week high. The market cap here is at Rs 679.85 crore.
Should Investors BUY Or Wait?
"As anticipated, Borana Weaves made a strong market debut, listing at a 12.5% premium over its issue price. The stock quickly hit the upper circuit and surged to trade 18% higher on the first day, reflecting strong investor interest and confidence in the company's fundamentals, " said Gaurav Garg, Lemonn Markets Desk in a note.
Further, the analyst note said, "While short-term investors may consider booking profits following the robust listing performance, long-term investors are advised to adopt a wait-and-watch approach. Close monitoring of the company's execution capabilities and progress on expansion plans will be key before taking a long-term position."
Borana Weaves IPO Details:
On the final day of its IPO, Borane Weaves IPO received bids of 54,89,17,425 equity shares, registering a subscription of 148.78 times compared with 36,89,457 equity shares that were offered.
Borane IPO opened for subscription from May 20th before ending on May 22nd. The price band was fixed at Rs 205 to Rs 216 per share.
About Borana Weaves Ltd:
Borana Weaves Ltd. is a trusted name in textile manufacturing, providing a seamless journey from fibre to fabric, all under one roof. As one of India's leading producers of high-quality microfilament woven fabrics, we leverage cutting-edge technology to ensure superior quality.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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