BLS Polymers IPO Day 3: Issue subscribed 42.47 times with GMP at 34%. Check key details

BLS Polymers IPO entered its third and final day of bidding on October 29, 2026, with the issue subscribed 42.47 times so far against 1.19 crore shares on offer. The retail investor portion was subscribed 33.70 times against 59.50 lakh shares offered. The IPO commands a grey market premium (GMP) of 34%, indicating expectations of potential listing gains, although GMP is an unofficial indicator and does not guarantee listing performance.

The Rs 255 crore book-built issue comprises an entirely fresh issue of 1.70 crore shares. The price band has been fixed at Rs 142–150 per share, with a lot size of 100 shares. Retail investors need to invest a minimum of Rs 15,000 to apply for one lot at the upper end of the price band.

The IPO closes on October 29, 2026, and the allotment is expected to be finalised on October 30. The shares are tentatively scheduled to list on the NSE and BSE on November 3, 2026. Unistone Capital Pvt. Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar to the issue.

BLS Polymers IPO subscription status

On Day 3, as of 10:05 am, BLS Polymers IPO was subscribed 42.47 times overall against 1.19 crore shares on offer.

The non-institutional investor (NII) portion was subscribed 103.25 times against 25.50 lakh shares offered, while the retail individual investor (RII) category was subscribed 33.70 times against 59.50 lakh shares on offer.

The qualified institutional buyer (QIB) portion was subscribed 12.21 times against 34 lakh shares offered.

BLS Polymers IPO GMP today

BLS Polymers IPO was commanding a grey market premium (GMP) of Rs 51 per share. Based on the upper price band of Rs 150, the estimated listing price stands at Rs 201 per share, implying a potential listing gain of 34%. However, GMP is an unofficial indicator of investor sentiment, may fluctuate before listing and does not guarantee the actual listing price or returns.

IPO objects of the issue

The company plans to utilise Rs 77.56 crore from the IPO proceeds to fund capital expenditure for expanding its manufacturing facility and increasing the production capacity of certain existing products.

Another Rs 89.50 crore will be allocated towards meeting working capital requirements, while the remaining proceeds will be used for general corporate purposes. The total estimated amount earmarked for the specified objects is Rs 167.06 crore.

Financial performance

BLS Polymers Ltd.'s total income increased 5% to Rs 354 crore in FY26 from Rs 337 crore in FY25. Its profit after tax (PAT) rose 28% to Rs 27 crore from Rs 21 crore over the same period.

About BLS Polymers

BLS Polymers Ltd. manufactures specialised polymer compounds used in wires, cables and underground pipelines. Its product portfolio includes HDPE, MDPE, LLDPE, XLPE, PVC, HFFR, cable filling compounds and adhesive coating compounds. These products cater to industries such as power, telecommunications, railways, water, and oil and gas.

The company operates a manufacturing facility in Goa spread across approximately 24,220 square metres and equipped with 11 machines. It also has an in-house laboratory, a quality control team and ISO 9001:2015 certification. The company develops customised products to meet specific customer requirements.

BLS Polymers serves more than 190 customers and exports its products to countries including Bangladesh, Egypt, Saudi Arabia, the UAE, the US and Zambia. Its proximity to Mormugao Port supports the import of raw materials and export of finished products.

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