BLS Polymers Shares Extend Rally For Second Session, Touch Fresh Record High As Stock Climbs 92% Above Its IPO Price

BLS Polymers shares continued their sharp post-listing rally on Wednesday, 4 November, gaining nearly 7% to touch a fresh record high of ₹288 on the Bombay Stock Exchange (BSE). The stock has now risen around 92% above its initial public offering (IPO) price of ₹150 in just two trading sessions.

The shares opened Wednesday's session at ₹277.20. They moved between an intraday low of ₹273.95 and a high of ₹288 apiece as buying interest continued after the company's strong debut a day earlier.

At 10:45 AM, BLS Polymers’ share price stood at ₹277 apiece, up 3.05%.

BLS Polymers had made its stock market debut on 3 November at a steep premium. On the BSE, the shares opened at ₹244.10, up 62.73% over the issue price. Buying picked up during the session, pushing the stock to ₹285.25 before it closed at ₹269.30, a gain of 79.53% over the IPO price.

The National Stock Exchange (NSE) listing was also strong. Shares began trading at ₹248, a premium of 65.33%, and ended the day at ₹268.80, up 79.2% against the issue price. The company's market capitalisation stood at ₹1,670.52 crore at the close of its first trading session.

BLS Polymers IPO Sees 241 Times Subscription

The ₹255-crore IPO attracted heavy demand from investors. The issue was subscribed 241.22 times by the time bidding closed on Thursday, with the price band set at ₹142–₹150 per share.

The public issue consisted entirely of a fresh issue of 1.7 crore equity shares. There was no offer for sale by existing shareholders.

As outlined in its red herring prospectus, BLS Polymers will use ₹77.56 crore from the proceeds to expand its manufacturing facility and raise production capacity for selected existing products. A further ₹89.5 crore has been set aside for working capital. The balance will go towards general corporate purposes.

What Does BLS Polymers Do?

BLS Polymers makes custom-formulated polymer compounds used in several sectors, including telecommunications, power, railways, water infrastructure and oil and gas distribution.

The company runs a manufacturing facility in Goa with an installed capacity of 35,251 metric tonnes a year. Its domestic distribution network covers 23 states and Union Territories, while its products are also exported to 13 countries.

These include the US, Germany, Saudi Arabia, the UAE and Bangladesh. The stock's sharp rise since listing has put the company in focus, with investors now tracking whether it can sustain the strong debut-day momentum.

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