Borana Weaves Limited files DRHP with SEBI

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.