BLS Polymers IPO shares to debut today. GMP points to 45% listing gains
BLS Polymers' Rs 255-crore IPO received 241 times subscription, with strong demand across investor categories. Ahead of its November 3 listing, the issue commanded a 45% grey market premium, indicating expectations of strong listing gains.
Shares of BLS Polymers are set to make their debut on the BSE and NSE on Tuesday, with strong investor sentiment reflected in the grey market. The IPO is commanding a grey market premium (GMP) of around 45%, indicating expectations of a strong listing gain over the issue price.The Rs 255-crore book-built issue comprised an entirely fresh issue of 1.70 crore shares. The company had fixed the price band at Rs 142-150 per share, with a lot size of 100 shares.
Retail investors applying for one lot at the upper end of the price band were required to invest a minimum of Rs 15,000.The IPO, which opened for subscription on October 27 and closed on October 29, received an overwhelming response, garnering an overall subscription of 241.22 times. The non-institutional investor (NII) category was subscribed 559.20 times, while the qualified institutional buyers (QIB) portion saw 200.25 times subscription.
The retail individual investor category was subscribed 128.36 times.The company's shares are tentatively scheduled to list on both the BSE and NSE on November 3, 2026.Unistone Capital Pvt. Ltd. acted as the book-running lead manager to the issue, while KFin Technologies Ltd. was the registrar.Live EventsBLS Polymers IPO GMP todayBLS Polymers IPO was commanding a grey market premium (GMP) of around Rs 68 per share.
With the upper end of the price band at Rs 150, the estimated listing price is Rs 218 per share, implying a potential listing gain of about 45% over the issue price. However, GMP is an unofficial indicator of market sentiment, fluctuates ahead of listing, and does not guarantee the actual listing price or investor returns.IPO objects of the issueThe company plans to utilise Rs 77.56 crore from the IPO proceeds to fund capital expenditure for expanding its manufacturing facility and increasing the production capacity of certain existing products.Another Rs 89.50 crore will be allocated towards meeting working capital requirements, while the remaining proceeds will be used for general corporate purposes.
The total estimated amount earmarked for the specified objects is Rs 167.06 crore.Financial performanceBLS Polymers Ltd.'s total income increased 5% to Rs 354 crore in FY26 from Rs 337 crore in FY25. Its profit after tax (PAT) rose 28% to Rs 27 crore from Rs 21 crore over the same period.About BLS PolymersBLS Polymers Ltd. manufactures specialised polymer compounds used in wires, cables and underground pipelines.
Its product portfolio includes HDPE, MDPE, LLDPE, XLPE, PVC, HFFR, cable filling compounds and adhesive coating compounds. These products cater to industries such as power, telecommunications, railways, water, and oil and gas. The company operates a manufacturing facility in Goa spread across approximately 24,220 square metres and equipped with 11 machines. It also has an in-house laboratory, a quality control team and ISO 9001:2015 certification.
The company develops customised products to meet specific customer requirements.BLS Polymers serves more than 190 customers and exports its products to countries including Bangladesh, Egypt, Saudi Arabia, the UAE, the US and Zambia. Its proximity to Mormugao Port supports the import of raw materials and export of finished products.Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution.
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