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What is the story about?
BLS Polymers Ltd. made a strong debut on the bourses on Tuesday, November 3, after its highly successful public offer that saw overwhelming demand across institutional, high-net-worth, and retail investor categories.
The stock began trading at ₹248 per share on the NSE, a 65% premium from its issue price of ₹150 per share. The company's ₹255 crore IPO was a complete fresh issue of equity shares.
Retail investors, on a minimum investment of ₹15,000, managed to avail one lot of 100 shares. The IPO was open for subscription between October 27 to October 29.
During the three-day period, the BLS Polymers IPO was subscribed 241.22 times. Subscription was healthy across all three categories. The Qualified Institutional Bidders (QIBs) placed bets for 200 times the shares on offer for them. 50% of the issue was reserved for QIBs.
The portion reserved for Non-Institutional Investors (NIIs) was subscribed 559.2 times the shares on offer, while that for retail investors was subscribed 128 times the shares allocated to them. 35% of the IPO was reserved for retail investors.
BLS Polymers is a premier Indian manufacturer and developer of specialized, custom-formulated polymer compounds.
The company manufactures specialized compounds including High-Density Polyethylene (HDPE), Medium-Density Polyethylene (MDPE), Linear Low-Density Polyethylene (LLDPE), Cross-linked Polyethylene (XLPE), Polyvinyl Chloride (PVC), and Halogen-Free Flame Retardant (HFFR) compounds, alongside masterbatches and pipe adhesives.
Products manufactured by BLS Polymers act as essential raw materials for insulation, sheathing, and jacketing in power cables, telecommunication networks, railway cables, oil & gas pipelines, and water transport systems. Wire and cable polymer compounds constitute the primary revenue generator, contributing over 80% of total operating revenue.
Out of the fresh proceeds, the company intends to use ₹77.56 Crore for expanding manufacturing capacity at its existing Goa manufacturing plant, ₹89.50 Crore to support inventory, trade receivables, and operational expansion, and the rest for general corporate purposes.
The stock began trading at ₹248 per share on the NSE, a 65% premium from its issue price of ₹150 per share. The company's ₹255 crore IPO was a complete fresh issue of equity shares.
Retail investors, on a minimum investment of ₹15,000, managed to avail one lot of 100 shares. The IPO was open for subscription between October 27 to October 29.
During the three-day period, the BLS Polymers IPO was subscribed 241.22 times. Subscription was healthy across all three categories. The Qualified Institutional Bidders (QIBs) placed bets for 200 times the shares on offer for them. 50% of the issue was reserved for QIBs.
The portion reserved for Non-Institutional Investors (NIIs) was subscribed 559.2 times the shares on offer, while that for retail investors was subscribed 128 times the shares allocated to them. 35% of the IPO was reserved for retail investors.
BLS Polymers is a premier Indian manufacturer and developer of specialized, custom-formulated polymer compounds.
The company manufactures specialized compounds including High-Density Polyethylene (HDPE), Medium-Density Polyethylene (MDPE), Linear Low-Density Polyethylene (LLDPE), Cross-linked Polyethylene (XLPE), Polyvinyl Chloride (PVC), and Halogen-Free Flame Retardant (HFFR) compounds, alongside masterbatches and pipe adhesives.
Products manufactured by BLS Polymers act as essential raw materials for insulation, sheathing, and jacketing in power cables, telecommunication networks, railway cables, oil & gas pipelines, and water transport systems. Wire and cable polymer compounds constitute the primary revenue generator, contributing over 80% of total operating revenue.
Out of the fresh proceeds, the company intends to use ₹77.56 Crore for expanding manufacturing capacity at its existing Goa manufacturing plant, ₹89.50 Crore to support inventory, trade receivables, and operational expansion, and the rest for general corporate purposes.
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