BLS Polymers IPO may list 45% above IPO price
BLS Polymers is scheduled to debut on the stock market and is expected to make quite an entrance: its shares could open 45% above the IPO price.
The IPO, priced at ₹142 to 150 per share, was a hot ticket with demand far outstripping supply.
In fact, the ₹255 crore offering was oversubscribed by a massive 241.22 times, showing just how much excitement there was around this debut.
BLS Polymers non-institutional oversubscription 559.20 times
Investors from every category rushed in: non-institutional buyers alone oversubscribed by 559.20 times! Retail and institutional investors weren't far behind either.
The money raised will help BLS Polymers ramp up its manufacturing and boost working capital as it looks to grow further.
With total income up by 5% and profits jumping 28% this year, the company seems set for more action ahead.