BLS Polymers shares rally 6% after robust inventory market debut
The corporate listed at a 65% premium over the IPO value. The inventory opened at Rs 244 on the BSE and Rs 248 on the NSE, towards its situation value of Rs 150 per share.
The IPO, which opened for subscription on October 27 and closed on October 29, acquired an amazing response, garnering an general subscription of 241.22 instances. The non-institutional investor (NII) class was subscribed 559.20 instances, whereas the certified institutional consumers (QIB) portion noticed 200.25 instances subscription. The retail particular person investor class was subscribed 128.36 instances.
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The Rs 255-crore book-built situation comprised a completely recent situation of 1.70 crore shares. The corporate had mounted the worth band at Rs 142-150 per share, with rather a lot dimension of 100 shares. Retail traders making use of for one lot on the higher finish of the worth band had been required to take a position a minimal of Rs 15,000.
Unistone Capital Pvt. Ltd. acted because the book-running lead supervisor to the problem, whereas KFin Applied sciences Ltd. was the registrar.
BLS Polymers IPO was commanding a gray market premium (GMP) of round Rs 68 per share.
IPO objects of the problem
The corporate plans to utilise Rs 77.56 crore from the IPO proceeds to fund capital expenditure for increasing its manufacturing facility and growing the manufacturing capability of sure current merchandise.
One other Rs 89.50 crore might be allotted in the direction of assembly working capital necessities, whereas the remaining proceeds might be used for common company functions. The entire estimated quantity earmarked for the required objects is Rs 167.06 crore.
In FY26, BLS Polymers Ltd.’s whole earnings elevated 5% to Rs 354 crore from Rs 337 crore in FY25. Its revenue after tax (PAT) rose 28% to Rs 27 crore from Rs 21 crore over the identical interval.
Additionally Learn | BLS Polymers IPO Day 3: Concern subscribed 42.47 instances with GMP at 34%. Test key particulars
About BLS Polymers
BLS Polymers Ltd. manufactures specialised polymer compounds utilized in wires, cables and underground pipelines. Its product portfolio contains HDPE, MDPE, LLDPE, XLPE, PVC, HFFR, cable filling compounds and adhesive coating compounds. These merchandise cater to industries reminiscent of energy, telecommunications, railways, water, and oil and fuel.
The corporate operates a producing facility in Goa unfold throughout roughly 24,220 sq. metres and geared up with 11 machines. It additionally has an in-house laboratory, a high quality management staff and ISO 9001:2015 certification. The corporate develops customised merchandise to fulfill particular buyer necessities.
BLS Polymers serves greater than 190 clients and exports its merchandise to nations together with Bangladesh, Egypt, Saudi Arabia, the UAE, the US and Zambia. Its proximity to Mormugao Port helps the import of uncooked supplies and export of completed merchandise.
Disclosure: This text has been written by Surbhi Khanna, who shouldn’t be a SEBI-registered Analysis Analyst or an funding advisor. Surbhi Khanna doesn’t maintain any monetary curiosity in Financial Occasions as of the date of publication. The views/suggestions talked about on this article, wherever relevant, are these of the respective SEBI-registered Analysis Analyst/brokerage and have been reproduced/reported with due attribution. They shouldn’t be construed because the views or suggestions of the EconomicTimes Digital or the journalist. Readers are suggested to think about the unique analysis report and make their funding choices based mostly on their very own evaluation.
