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BLS Polymers Share Price: Shares of BLS Polymers, a manufacturer of specialised polymer compounds, made a strong debut on the NSE and BSE on Tuesday, November 3, listing at a premium of around 65 per cent against the IPO issue price of Rs 150.
On the NSE, BLS Polymers shares listed at Rs 248, registering a premium of Rs 98 or 65.33 per cent over the issue price, while on the BSE the stock debuted at Rs 244.10, a premium of 62.73 per cent.
The market capitalisation of the stock stood at Rs 1,514.20 crores, as per official data on the BSE.
BLS Polymers IPO Subscription
The stock market debut comes after the BLS Polymers IPO received an overwhelming response from investors, with the public issue subscribed over 240 times during the three-day subscription window.
The subscription was primarily driven by demand from Non-Institutional Investors (NIIs), followed by Qualified Institutional Buyers (QIBs) and Retail Individual Investors (RIIs).
Here is the category-wise subscription breakdown:
- Retail Individual Investors (RIIs): 128.36 times
- Non-Institutional Investors (NIIs): 559.20 times
- Qualified Institutional Buyers (QIBs): 200.25 times
The IPO received 2,87,05,58,600 bids against 1,19,00,000 shares on offer.
BLS Polymers IPO GMP
Ahead of its stock market debut, the grey market premium (GMP) of BLS Polymers IPO stood at Rs 70 on November 3, indicating an estimated premium of 46.67 per cent over the issue price of Rs 150.
Based on the prevailing grey market premium, the shares were expected to list at Rs 220. However, the stock made its NSE debut at Rs 248, higher than the GMP-based estimated listing price.
The BLS Polymers IPO GMP witnessed an increase over the two weeks preceding the listing. The premium climbed from Rs 18 on October 19 to Rs 70 on November 3.
After remaining in the Rs 38-44 range during late October, the GMP increased to Rs 51 and subsequently moved to the Rs 68-70 range.
BLS Polymers IPO Allotment
Unistone Capital acted as the book-running lead manager for the BLS Polymers IPO, while Kfin Tech was the registrar to the issue. Following the completion of the three-day subscription period, the public issue entered the allotment phase, during which shares were allotted to successful applicants.
About BLS Polymers
BLS 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.
The company caters to industries such as power, telecommunications, railways, water, and oil and gas.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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