BLS Polymers opens IPO to raise ₹255cr amid strong demand
BLS Polymers just opened its IPO, hoping to raise ₹255 crore by offering 1.7 crore shares priced between ₹142 and ₹150 each.
You can apply until October 29, and the shares are set to list on November 3.
The IPO is already getting attention: before opening, shares were trading at a nearly 27% premium in the gray market, showing strong investor interest.
Plus, Nakshatra Asset Ventures was the largest anchor investor, subscribing to 17.85 lakh shares worth ₹26.78 crore, as the total amount raised from six institutional anchor investors.
BLS Polymers to expand Goa facility
The company plans to use these funds to expand its Goa manufacturing facility and ramp up production of polymer compounds for global markets.
Some money will also go toward working capital and general corporate needs.
BLS Polymers says this move is intended to help meet demand in international markets and relatively high utilization of its existing PE and XLPE capacities.
Unistone Capital is handling the IPO process.