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BLS Polymers shares open 65.3% above IPO price
BLS Polymers shares open 65.3% above IPO price
BLS Polymers share price today:BLS Polymers shares made a strong debut on the stock exchanges on Tuesday, delivering listing gains of over 65 per cent to the IPO investors. The shares listed at ₹248 on the National Stock Exchange (NSE), a premium of ₹98 or 65.
BLS Polymers share price today:BLS Polymers shares made a strong debut on the stock exchanges on Tuesday, delivering listing gains of over 65 per cent to the IPO investors. The shares listed at ₹248 on the National Stock Exchange (NSE), a premium of ₹98 or 65.3 per cent over the IPO issue price of ₹150. On the BSE, the stock opened at ₹244.10, up ₹94 or 62.66 per cent against the issue price. The counter extended its listing gains to trade at ₹258.60 on the BSE around 10:10 AM, up 72.4 per cent from the IPO price and 6 per cent above its listing price. BLS Polymers, which operates in the specialty chemicals industry, commanded a market capitalisation of ₹1,605.07 crore. The company had fixed the price band at ₹142-150 per share for its initial public offering. The issue was subscribed 9.
60 times on the first day of bidding. At the end of the bidding, BLS Polymers IPO, which was entirely a fresh issue of 1. 7 crore equity shares, was booked 241. 22 times, driven by strong demand from non-institutional investors (NIIs).
The ₹255 crore IPO received bids for 2,87,05,58,600 equity shares, worth Rs 43,058. 25 crore, against 1,19,00,000 shares on offer, as per the NSE data. The quota for non-institutional investors received 559. 20 times subscription, while the category for qualified institutional buyers (QIBs) was subscribed 200.
25 times. The retail portion was booked 128. CHECK Stock Market LIVE Updates
BLS Polymers manufactures custom-formulated polymer compounds used in industries such as telecommunications, power, railways, water, and oil and gas distribution. The company operates a manufacturing facility in Goa with an installed capacity of 35,251 metric tonnes per annum. It operates across 23 states and Union Territories in India and exports products to 13 countries, including the US, Germany, Saudi Arabia, the UAE, and Bangladesh. Established in 1991, the company is part of the BLS Group, which has interests in textiles, education, polymers, visa and consular services, banking business correspondent services and e-governance.
W.Fortin--SMC
