Borana Weaves IPO: This IPO was filled 200 times, got only 12% profit on listing, know what investors should do now

Borana Weaves IPO Borana Weaves' IPO got tremendous response from investors and its listing was expected with a jump of 20 percent in the gray market. But the company's shares have been listed with a gain of 12 percent over its issue price.

Borana Weaves shares (Borana Weaves IPO Listing Price) were listed in the stock market today amid a declining environment. However, the listing was quite sluggish as compared to expectations. Because, the shares were listed with a gain of 12 percent over the issue price. Borana Weaves shares were listed on BSE and NSE at a price of Rs 243 per share. Their IPO price was Rs 216 per share. However, the signals received from the gray market were indicating that Borona shares could be listed with a jump of 20 percent. With this listing in the stock market, the market cap of the company has reached the level of Rs 670 crore.

Borana Weaves shares were listed at Rs 243 and hit a high of Rs 255.15 intraday. With this surge, the shares have hit an upper circuit, that is, investors are ready to buy but no one is selling.

The IPO was subscribed 200 times

Investors showed keen interest in the Rs 145 crore IPO. This public issue was subscribed 149 times between May 20 and 22. Non-institutional investors took the lead in the subscription rally by booking their reserve portion nearly 237 times. At the same time, retail investors stood second by subscribing their reserve portion more than 200 times. Borana Weaves' IPO had a fresh issue of 67.08 lakh shares at a price band of Rs 205-216 per share.

What to do after a strong listing

Market experts tracking this issue were expecting a strong listing. Many analysts had said that if this IPO opens above the issue price, then profit booking could be a wise move. At the same time, some market experts have advised shareholders to book partial profits and hold the remaining shares.