Latest News | Borana Weaves IPO Subscribed 8.53 Times on Day 1 of Offer

New Delhi, May 20 (PTI) The initial public offer of Borana Weaves, producer of high quality microfilament woven fabrics, received 8.53 times subscription on the first day of bidding on Tuesday.

The Rs 144.89 crore initial share sale received bids for 3,14,63,862 shares against 36,89,457 shares on offer, as per data available with the NSE.

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The quota for Retail Individual Investors (RIIs) got subscribed 24.96 times while the category for non institutional investors fetched 11.54 times subscription. The portion for Qualified Institutional Buyers (QIBs) attracted 1.55 times subscription.

The Initial Public Offer (IPO) of up to 67,08,000 equity shares has a price range of Rs 205-216 per share.

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Beeline Capital Advisors is the book running lead manager to the offer. PTI SUM

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)