Latest news with #view
BBC News
09-06-2025
- General
- BBC News
St Mawes artist wins her battle to lower fence obscuring view
An artist has won her battle to get a fence lowered so that villagers can once again enjoy an unobstructed view of the Fuller, of St Mawes on the Roseland peninsula, had fought for more than a year to get the 1.5m (5ft) fence lowered to restore the view of Tavern campaign, which included photographs and her own original paintings to illustrate her point, has now resulted in the parish council agreeing to reduce the fence to its original 90cms (3ft).Ms Fuller said: "I cannot understand why they wanted to do anything to spoil the view in this beautiful place and that was the whole point of my argument." Ms Fuller said she created the before and after paintings in order to prove her point to the parish council."A year ago I spoke about this matter and I was entirely on my own," she said. She said her protests led to a site visit in November 2024 but it took several more months before the council agreed the fence could be lowered."So I have been on this journey for over a year," she said. Fellow artist Ruth Hazlitt, a member of St Mawes Art Group, said the higher fence was "hideous" and "nonsensical".She said previously there was a clear view of St Anthony's Head, Summers Beach and the open sea and across to Falmouth."It's a wonderful spectrum of vision," she said. Councillor Sheelah Goldsmith, from St Just in Roseland Parish Council, said they had agreed to lower the fence in response to local feeling and after checking height regulations."We weren't sure about the regulations so the fence was put up and at the first meeting we were really worried about the insurance," she said a second council meeting it transpired the height of the fence could be Goldsmith added: "I'm really pleased, I think the 500 signatures backing the idea of the fence coming down needed to be recognised and also the legalities, that fact that it's perfectly legal to be 3ft (90cms)."
Economic Times
20-05-2025
- Business
- Economic Times
Borana Weaves IPO subscribed 1.8 times on Day 1; GMP points to 25% listing gain— Should you apply?
The initial public offering (IPO) of Borana Weaves was fully subscribed on Tuesday with an overall subscription of 1.79 times as of 11:05 AM on the first day of bidding, indicating a solid start to the nearly Rs 145 crore public offer. ADVERTISEMENT Retail investors led the momentum with their portion subscribed 7.12 times, while the Non-Institutional Investor (NII) category saw 1.82 times subscription. The issue, which opened on May 20, will close on May 22. Listing is expected on May 27. Grey Market Premium Priced in a band of Rs 205 to Rs 216 per share, the IPO is generating investor buzz with a grey market premium (GMP) of Rs 55 as of early Tuesday, May 20. Based on the upper end of the price band at Rs 216, the IPO's estimated listing price is pegged at Rs 271, implying a potential listing gain of 25.46%. Offer structure and key dates The Rs 144.89 crore IPO is a book-built issue comprising a fresh issuance of 67.08 lakh equity shares. The price band is set at Rs 205 to Rs 216 per share. The minimum bid for retail investors is one lot of 69 shares (Rs 14,904 at the upper band), while small NIIs can bid for at least 14 lots (966 shares) at Rs 2,08,656, and big NIIs for 68 lots (4,692 shares) at Rs 10,13,472. The IPO allocation reserves at least 75% of the shares for Qualified Institutional Buyers (QIBs), up to 15% for NIIs, and not more than 10% for retail investors. The anchor book opened on May 19. Beeline Capital Advisors is the book-running lead manager, while Kfin Technologies serves as registrar. ADVERTISEMENT Share allotment is expected to be finalized on May 23, with credits to demat accounts by May 26. Capital to fund expansion ADVERTISEMENT Proceeds from the IPO will be used primarily to establish a fourth manufacturing unit in Surat, augment working capital, and cover general corporate expenses.'The proceeds from the IPO will support the expansion of our production infrastructure and help us address our working capital needs,' said Mangilal Ambalal Borana, Chairman and Managing Director of Borana Weaves. ADVERTISEMENT Financials and business outlook Founded in 2021 and based in Surat, Borana Weaves manufactures unbleached synthetic grey fabric used across fashion, home décor, and industrial applications. The company operates three manufacturing units equipped with 15 texturizing machines, 6 warping machines, 700 water jet looms, and 10 folding Weaves reported revenue of Rs 199.05 crore, EBITDA of Rs 41.17 crore, and PAT of Rs 23.58 crore for FY24. For the nine months ended December 2024, revenue reached Rs 211.61 crore with EBITDA of Rs 46.03 crore and PAT of Rs 29.30 crore. ADVERTISEMENT The company's customer base is concentrated among wholesalers in Gujarat. With the global man-made fiber market expected to grow at 3.7% in 2025, Borana aims to expand its reach in both domestic and export markets. Analyst view Gaurav Garg of Lemonn Markets Desk said the IPO presents an attractive short-term bet, supported by strong listing gain potential, healthy financials, and solid investor interest in the grey market."Borana Weaves' IPO offers a compelling short-term opportunity, with strong listing gain potential driven by robust growth, healthy margins, and attractive GMP. The company's niche positioning and integrated manufacturing give it an edge, but high regional concentration and raw material volatility remain key risks," said Garg."At a P/E of ~17.5x, valuations seem fair, making it a suitable pick for retail and HNI investors looking to capitalize on debut momentum—while long-term investors may want to monitor execution and expansion before committing," said Garg. Also read | Borana Weaves IPO opens for subscription with healthy GMP. Should you bid? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
