Borana Weaves IPO subscribed 148.77 times on last day of bidding

The initial public offering (IPO) of Borana Weaves, producer of high quality microfilament woven fabrics, got subscribed a huge 148.77 times on the closing day of bidding on Thursday. The Rs 144.89-crore initial share sale received bids for 54,88,84,443 shares against 36,89,457 shares on offer, according to data available with the NSE.

The category for non-institutional investors fetched a whopping 237.41 times subscription while the quota for retail individual investors received 200.50 times subscription. The portion for qualified institutional buyers got subscribed 87.21 times.

The IPO of up to 67,08,000 equity shares has a price range of Rs 205-216 per share. Beeline Capital Advisors is the book running lead manager to the offer.