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BLS Polymers IPO: ₹255 crore issue opens today; check GMP, price band and listing date - Published OnOct 27, 2026 | 07:12 IST - Last Updated OnOct 27, 2026 | 07:12 IST BLS Polymers shares were commanding a grey market premium (GMP) of nearly 27% on the morning of October 27, indicating positive sentiment in the unofficial market ahead of the issue opening. The initial public offering (IPO) of BLS Polymers, a manufacturer of polymer compounds used in wires, cables and underground pipelines, will open for subscription on Tuesday, October 27, and close on October 29. The New Delhi-based company aims to raise ₹255 crore through a fresh issue of 1.7 crore equity shares. It has set the price band at ₹142–₹150 per share, valuing the company at approximately ₹930.5 crore at the upper end of the band. Ahead of the IPO opening, BLS Polymers raised ₹76.5 crore from six institutional investors through its anchor book. The company allotted 51 lakh equity shares to these investors at ₹150 apiece, the upper end of the price band. Nakshatra Asset Ventures was the largest anchor investor, subscribing to 17.85 lakh shares through two schemes — Bharat Vantage Fund – Scheme III and Nakshatra Bharat Vantage Fund — for a combined ₹26.78 crore. Vikasa India EIF I Fund acquired 9.79 lakh shares worth ₹14.68 crore. Venus Investments, Radiant Global Fund and Pine Oak Global Fund each invested ₹10 crore, while Innovative Vision Fund subscribed to 3.33 lakh shares worth ₹5 crore. BLS Polymers IPO review: SBI Securities recommends Subscribe Brokerage firm SBI Securities has recommended subscribing to the IPO for the long term, citing the company's presence in a niche segment, improving profitability, available manufacturing capacity and planned expansion. According to the brokerage, BLS Polymers manufactures customised polymer compounds for specialised applications and has established customer relationships across wire, cable and industrial-pipeline segments. The company recorded a compound annual growth rate (CAGR) of 8.6% in revenue, 59.8% in earnings before interest, tax, depreciation and amortisation (EBITDA), and 89.5% in profit after tax (PAT) between FY24 and FY26. The brokerage said this reflected improving margins despite moderate revenue growth. Existing capacity headroom and the proposed expansion are expected to provide scope for higher production and future growth. However, SBI Securities flagged customer and supplier concentration, raw-material price volatility and reliance on a single manufacturing facility as key risks. At the upper end of the price band, the IPO is valued at 34.5 times FY26 earnings on a post-issue basis, according to the brokerage. BLS Polymers IPO GMP BLS Polymers shares were commanding a grey market premium (GMP) of nearly 27% on the morning of October 27, indicating positive sentiment in the unofficial market ahead of the issue opening. The grey market premium is an unofficial indicator of investor sentiment based on transactions outside regulated stock exchanges. It does not guarantee listing gains and may fluctuate before the shares begin trading. About BLS Polymers BLS Polymers operates a manufacturing facility in Goa and produces polymer compounds for industries including telecommunications, power, railways, water, and oil and gas distribution. Polymer compounds are used in the insulation, sheathing and jacketing of wires and cables, as well as in coatings for underground oil, gas and water pipelines. These applications help protect infrastructure from corrosion and environmental damage. In FY26, capacity utilisation stood at 75.26% for polyethylene (PE) compounds and 73.19% for cross-linked polyethylene (XLPE) compounds at the company's manufacturing facility. Citing demand in international markets and relatively high utilisation of its existing PE and XLPE capacities, the company plans to expand production capacity by 52,050 metric tonnes per annum (MTPA). The proposed expansion is expected to increase overall capacity from 35,251 MTPA to 87,301 MTPA. BLS Polymers IPO: Use of proceeds and listing date BLS Polymers plans to use ₹77.56 crore from the IPO proceeds to expand its existing manufacturing facility in Goa and increase the production capacity of select products. Another ₹89.5 crore will be allocated to working capital requirements, with the remaining proceeds earmarked for general corporate purposes. Unistone Capital is the merchant banker managing the IPO. The allotment is expected to be finalised on October 30, while the company's shares are scheduled to list on the stock exchanges on November 3. Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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