The shares of Textile company, specializing in the production of unbleached synthetic grey fabric, hit a 5 percent upper circuit following the Bulk Deal involving two prominent investors, Kshitij Portfolio Pvt Ltd and Pine Oak Global Fund.
With a market capitalization of Rs. 666.13 crores on Wednesday, the shares of Borana Weaves Ltd hit a 5 percent upper circuit, making a high of Rs. 267.85 per share compared to its previous closing price of Rs. 255.10 per share.
Borana Weaves Ltd experienced a bulk deal, in which Kshitij Portfolio Pvt Ltd bought 2 lakh equity shares, which consist of 0.75 percent stake at Rs. 243 apiece, on May 27, 2025, resulting in a total value of around Rs. 4.86 Crores.
Along with it, Pine Oak Global Fund, a Foreign Institutional Investor (FII), also bought 1.41 Lakh equity shares, which consist of a 0.53 percent stake at Rs. 243 apiece, on May 27, 2025, resulting in a total value of around Rs. 3.44 Crores.
Financials & Others
The company’s total revenue rose by 47 percent from Rs. 135 crore to Rs. 199 crore in March FY23-24. Meanwhile, Net profit rose from Rs. 16 crore to Rs. 24 crore during the same period.
The company has maintained a low debt-to-equity ratio of 0.98, with promoter shareholding exceeding 65 percent. The company has demonstrated strong financial performance, achieving an average ROE of 63.82 percent and ROCE of 27.50 percent over the last three years.
Additionally, it recorded an impressive average three-year revenue growth of 67.53 percent and net profit growth of 135.82 percent, reflecting robust business momentum and operational efficiency.
Borana Weaves Ltd, established in 2020 and headquartered in Surat, Gujarat, is a leading producer of unbleached synthetic grey fabric and polyester textured yarn. The company operates three advanced manufacturing units equipped with 5 texturizing machines, 6 warping machines, 700 high-speed water jet looms, producing over 220 million meters of premium synthetic and blended greige polyester fabric annually.
Borana Weaves Ltd launched its ₹144.89 crore IPO from May 20 to May 22, 2025, as a completely fresh issue of 67.08 lakh shares with a price band of ₹205–₹216 per share. The IPO received an overwhelming response, being subscribed nearly 148 times overall, with retail and non-institutional investors leading the demand.
Shares were listed on both BSE and NSE on May 27, 2025, debuting at ₹243, 12.5 percent above the issue price, and proceeds from the IPO will fund a new manufacturing unit, working capital, and general corporate purposes.
Written by Sridhar J
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