Borana Weaves IPO has entered the second day of its public offering. The issue opened for subscription on May 20 and will close its three-day bidding window on May 22. As of Day 2, the grey market premium (GMP) for this mainboard issue has also seen a notable surge.
Let’s take a look at everything you need to know about the issue from brokerage views to key dates like allotment and listing.
Borana Weaves IPO Day 2: 20x overall subscription so far
As of the latest hour, the Borana Weaves IPO has seen an overall subscription of 19.70 times so far. Retail investors turned out in large numbers, subscribing their portion 55.48 times, as per reports.
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The Non-Institutional Investors (NII) segment followed closely behind, subscribing 31.96 times, while Qualified Institutional Buyers (QIBs) showed comparatively restrained interest at 1.63 times.
Borana Weaves IPO Day 2: Grey market buzz
In the unofficial grey market, Borana Weaves stock is trading at a premium of Rs 52 over the IPO’s upper band price of Rs 216, hinting at a potential listing price around Rs 268. This implies a notional gain of nearly 24%.
However, it is important to note that this is not the actual listing price and may fluctuate based on the market condition .
Borana Weaves IPO Day 2: IPO details at a glance
The Rs 144.89 crore issue is a completely fresh offering of 67.08 lakh equity shares. Priced between Rs 205 and Rs 216 per share, retail investors can apply with a minimum lot size of 69 shares, requiring an investment of Rs 14,145.
For sNII (small non-institutional investors), the minimum application requires 14 lots (966 shares), totaling Rs 2,08,656. For bNII (big NIIs), the requirement rises to 68 lots (4,692 shares), amounting to Rs 10,13,472.
Borana Weaves IPO Day 2: Key dates to remember and major players
The Borana Weaves IPO will close for subscription on May 22, with the allotment of shares expected to be finalised on May 23. Furthermore, after this process the company’s shares are likely to be listed on both the BSE and NSE on May 27.
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