BLS Polymers IPO subscription crosses 45x on final day
What's the story
BLS Polymers' initial public offering (IPO) witnessed strong demand on its last day of bidding. The issue was subscribed 46.74 times by 10:15am today, according to National Stock Exchange (NSE) data. The ₹255 crore IPO received bids for over 556.19 million shares against the 11.9 million shares on offer at the upper end of the price band of ₹150 per share, valuing the company at about ₹930.5 crore.
Investor interest
Strong demand from retail, non-institutional investors
Non-institutional investors led the demand for BLS Polymers' IPO with a whopping 116.98 times subscription. Retail investors followed closely with a subscription rate of 36.35 times.
Ahead of the public issue, BLS Polymers had raised ₹76.5 crore through its anchor book by allotting 51 lakh equity shares to six institutional investors at ₹150 per share, the upper end of the price band.
Fund allocation
BLS Polymers to utilize proceeds for expanding manufacturing capacity
The IPO consists of a fresh issue of 1.7 crore equity shares. BLS Polymers plans to use the proceeds for expanding its manufacturing capacity, meeting working capital requirements, and general corporate purposes.
The company has earmarked ₹77.56 crore from the net IPO proceeds for expanding its existing manufacturing facility in Goa, which will increase production capacity for select products.
Growth trajectory
Financials of the company
BLS Polymers reported a net profit of ₹27 crore in the fiscal year ending March 2026, up 27.8% from ₹21.1 crore in FY25.
Its revenue from operations also grew by 6.4% year-on-year to ₹349.4 crore in FY26, compared to ₹328.4 crore last fiscal year.