Mumbai (Maharashtra) [India], December 02: Borana Weaves Limited (“Borana”, the “Company”) 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.
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