BLS Polymers debuts with 65% jump and ₹255cr raised
Business
BLS Polymers just kicked off its stock market journey with a bang. Shares opened at ₹248 on the NSE, a solid 65% jump from its ₹150 issue price.
The IPO saw massive demand, getting subscribed 241.22 times and raising ₹255 crore in fresh funds between October 27 and 29.
BLS IPO subscription 200x 559.2x 128x
The IPO wasn't just popular: it was flooded with interest from all sides.
Big institutional investors subscribed 200 times their share; non-institutional folks went even bigger at 559.2 times; and retail investors joined in strong with a 128-times subscription rate.
BLS to expand Goa manufacturing plant
With the money raised, BLS Polymers plans to expand its Goa manufacturing plant and boost operations.