Borana Weaves shares surge over 18% in debut trade; hit upper circuit

New Delhi: Shares of Borana Weaves Ltd, producer of high-quality microfilament woven fabrics, on Tuesday ended about 18 per cent higher against the issue price of Rs 216.

The stock started the trade at Rs 243, up 12.5 per cent from the issue price on the BSE. Shares of the firm jumped 18.10 per cent to Rs 255.10 -- its upper circuit limit.

At the NSE, the stock made its market debut at Rs 243. The stock ended at Rs 255.15, up 18.12 per cent, hitting the upper circuit limit.

The company's market valuation stood at Rs 679.72 crore.

The initial public offering (IPO) of Borana Weaves was subscribed a huge 148.77 times on the closing day of bidding on Thursday last week.

The Rs 144.89-crore initial share sale had a price range of Rs 205-216 per share.