Hyderabad: The BLS Polymers IPO attracted strong investor demand on its final bidding day, with the issue subscribed 46.74 times by 10:15 am on October 29, according to NSE data.
The ₹255-crore public issue received bids for 55.61 crore shares against 1.19 crore shares on offer. Non-institutional investors led the demand, subscribing to their category 116.98 times. Retail investors subscribed 36.35 times.
The grey market premium (GMP) for BLS Polymers shares stood at 34% on Thursday morning, according to InvestorGain. However, the GMP is an unofficial indicator of market sentiment and does not guarantee the listing price or returns.
The IPO opened on October 27 and closes on October 29. The company has fixed the price band at ₹142 to ₹150 per share, valuing it at approximately ₹930.5 crore at the upper end.
BLS Polymers IPO: Allotment, Listing and Use of Funds
The basis of allotment is expected to be finalised on October 30, while the shares are scheduled to list on the stock exchanges on November 3. Ahead of the public issue, the company raised ₹76.5 crore from six anchor investors by allotting 51 lakh shares at ₹150 apiece.
The IPO comprises a fresh issue of 1.7 crore equity shares. The company plans to use the proceeds to expand its manufacturing facility in Goa, meet working capital requirements and fund general corporate purposes.
Of the net proceeds, ₹77.56 crore has been earmarked for expanding production capacity at the Goa facility. Another ₹89.5 crore will support working capital needs.
BLS Polymers reported a net profit of ₹27 crore in the financial year ended March 2026, up 27.8% from ₹21.1 crore in FY25. Revenue from operations increased 6.4% to ₹349.4 crore, compared with ₹328.4 crore a year earlier.
For the quarter ended June 2026, the company reported a net profit of ₹10.2 crore on revenue of ₹107.02 crore.
Unistone Capital is managing the public issue as the merchant banker.
About BLS Polymers
BLS Polymers, based in New Delhi, manufactures custom-formulated polymer compounds for industrial applications.
Its products are used in insulation, sheathing and jacketing for wires and cables serving the power, telecommunications and railway sectors. The company also supplies polymer compounds for coating underground oil, gas and water pipelines to protect them against corrosion and environmental damage.
The IPO’s strong early subscription reflects investor demand, but subscription levels and grey market premiums alone do not establish a company’s future performance. Investors should review the offer documents and financial risks before making decisions.
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