Borana Weaves specializes in the production of unbleached synthetic grey fabric, has filed its Draft Red Herring Prospectus with SEBI in preparation for the 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’s objective is to finance the cost of establishing a new manufacturing unit to expand its production capabilities to produce grey fabric at Surat, Gujarat, India. 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 ₹ 19,905.56 lakhs and EBITDA of ₹ 4,117.31 lakhs and PAT of ₹ 2,358.64 lakhs and for the period ended September 30, 2024, the Company reported Revenue from operations of ₹ 13,303.48 lakhs and EBITDA of ₹ 2,794.36 lakhs and PAT of ₹ 1,790.42 lakhs.
Borana Weaves Company Details
Borana Weaves Limited is a textile manufacturer headquartered in Surat, Gujarat specializing in the production of unbleached synthetic grey fabric. This fabric serves as a versatile base material frequently used for further processing, including dyeing and printing, making it essential across industries such as fashion, traditional textiles, technical textiles, home décor, and interior design due to its adaptability across various styles. In addition to grey fabric, our Company also manufactures polyester textured yarn (“PTY Yarn”), which is produced by heating polyester-oriented yarn (“POY Yarn”), our raw material used in the production of grey fabric. (Source: D&B Report)
Since commencing operations in 2021, the Company has expanded to three manufacturing units in Surat, equipped with textile manufacturing technologies, pollution light machinery and tools which are supplied by domestic and global players in the synthetic fibre industry machinery, including 15 texturizing machines, 6 warping machines, 700 water jet looms, and 10 folding machines.
With India witnessing a surge in demand for synthetic textiles driven by affordability, durability, and evolving market trends, the Indian synthetic textile industry is well-positioned to benefit, with growth opportunities in both domestic consumption and exports. The Company’s strong foothold in Gujarat, supported by robust customer relationships and streamlined operations, has been instrumental in its continued success.
Beeline Capital Advisors Private Limited is the Book Running Lead Managers to the Issue, while KFIN Technologies Limited is Registrar to the Issue.
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