Borana Weaves files DRHP with Sebi for IPO
Borana Weaves Limited, which specializes in the production of unbleached synthetic grey fabric, has filed its Draft Red Herring Prospectus (DRHP) with markets regulator SEBI for an IPO. The issue size will be of up to 70,00,000 equity shares with a face value of ₹10 each, all of which will be issued as a fresh issue.
Borana said its objective is to finance the cost of establishing a new manufacturing unit to expand its production capabilities to produce grey fabric at Surat. It also aims to secure funding for incremental working capital requirements and for general corporate purposes.
For the period ended March 31, 2024, the company reported revenue from operations of Rs 199 crore and EBITDA of Rs 41.17 crore and PAT of Rs 23.59 crore and for the period ended September 30, 2024, the company reported revenue from operations of Rs 133 crore and EBITDA of Rs 27.94 crore and PAT of Rs 17.9 crore.
Beeline Capital Advisors Private Limited is the Book Running Lead Managers to the Issue, while KFIN Technologies Limited is Registrar to the IPO.
About Borana Weaves
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