BLS Polymers IPO Day 1: Subscribed 8.48x; QIB Demand at 12.02x
Key Highlights
BLS Polymers IPO (₹179 crore mainboard IPO) was subscribed 8.48x on Day 1 of 3, with QIB at 12.02x. See category-wise subscription and day-wise bids.
Last updated: Tue, Oct 27, 2026, 5:00 PM IST · mainboard · & · Day 1 of 3
- BLS Polymers IPO subscribed 8.48x overall on Day 1
- Total bids: 10,09,30,700 shares against 1,19,00,000 shares on offer
- Category-wise: 12.02x, 9.89x, 5.85x
- Price band: ₹142 to ₹150 per share
- The issue closes on Thu, Oct 29, 2026
The BLS Polymers IPO opened for subscription on day 1 of 3 trading days. The issue recorded an overall subscription multiple of 8.48x as of Tue, Oct 27, 2026, 5:00 PM IST. The QIB category emerged as the most-bid segment, recording a subscription multiple of 12.02x.
BLS Polymers IPO Status: Day 1
Day-wise subscription
| Day | Date | Total bids (shares) | Bid value at upper band (₹ crore) | Subscribed (x) |
|---|---|---|---|---|
| Day 1 | Tue, Oct 27, 2026 | 10,09,30,700 | 1,513.96 | 8.48x |
Category-wise subscription
| Category | Shares offered | Day 1 bids | Day 1 (x) |
|---|---|---|---|
| QIB | 34,00,000 | 4,08,77,400 | 12.02x |
| NII | 25,50,000 | 2,52,22,200 | 9.89x |
| of which individual NII | — | 2,45,76,200 | — |
| of which corporate NII | — | 2,12,900 | — |
| of which other NII | — | 4,33,100 | — |
| Retail | 59,50,000 | 3,48,31,100 | 5.85x |
| Total | 1,19,00,000 | 10,09,30,700 | 8.48x |
All investor categories subscribed to their respective quotas on the first day. The QIB category led the bidding with 12.02x, followed by NIIs at 9.89x. Retail investors subscribed 5.85x against their allocated portion. Total bids reached 10,09,30,700 shares across all segments.
BLS Polymers IPO Offer Details
| Field | Value |
|---|---|
| IPO date | Tue, Oct 27, 2026 to Thu, Oct 29, 2026 |
| Listing date | To be announced |
| Face value | ₹10 per share |
| Price band | ₹142 to ₹150 per share |
| Lot size | 100 shares |
| Total issue size | 1,70,00,000 shares (₹179 crore) |
| Listing at | NSE & BSE |
| Lead managers | Unistone Capital Pvt Ltd. |
| KFIN Technologies Ltd. |
About BLS Polymers
BLS Polymers Ltd. manufactures custom formulated polymer compounds including , XLPE, and PVC. As per the DRHP, the company serves industries such as telecommunication, power, railways, and water, oil and gas distribution. The company operates for over three decades and manufactures products at a single facility in Goa. Its product portfolio includes high density polyethylene compounds, medium-density polyethylene compounds, and linear low-density polyethylene compounds. These materials serve as essential raw materials for sheathing, jacketing, and insulation of wires and cables, as well as for coating underground pipelines to provide protection from corrosion and external environmental factors.
BLS Polymers Financial Highlights
| Metric | FY 2024-25 | FY 2023-24 | FY 2022-23 |
|---|---|---|---|
| from operations (₹ crore) | 3,284.36 | 2,963.58 | 3,146.16 |
| Total income (₹ crore) | 3,366.98 | 3,015.04 | 3,167.76 |
| Profit after tax (₹ crore) | 211.36 | 75.22 | 62.50 |
| Net worth (₹ crore) | 679.42 | 468.27 | 392.58 |
| Total borrowings (₹ crore) | 709.19 | 884.44 | 822.99 |
| (₹) | 4.69 | 1.67 | 1.39 |
Revenue from operations grew 10.8% in FY 2024-25 to ₹3,284.36 crore, compared to ₹2,963.58 crore in FY 2023-24. Profit after tax grew 181% in FY 2024-25 to ₹211.36 crore, up from ₹75.22 crore in FY 2023-24. The margin was 6.44% in FY 2024-25.
Objects of the Issue
| Purpose | Amount (₹ crore) |
|---|---|
| Financing the capital expenditure requirement towards expansion of our Manufacturing Facility | 77.56 |
| Funding working capital requirements | 89.50 |
Risk Factors as per the DRHP
- The company faces risks from its dependence on a small number of top customers, which may impact its financial performance if these relationships are disrupted or terminated.
- Operations are concentrated at a single manufacturing facility in Goa, meaning any disruption at this location could significantly affect the company’s ability to produce and supply its products.
- The business requires significant working capital to maintain operations, which could impact liquidity if the company is unable to manage its cash flow requirements effectively.
- The company faces potential litigation risks that could arise from its business operations and relies on third-party logistics providers for the distribution of its products to customers.
How to Check BLS Polymers IPO Subscription Status
Live bidding figures are published by NSE & BSE while the issue is open. Once it closes, allotment status is published by the registrar, KFIN Technologies Ltd..
This article is for information only and is not investment advice. Subscription figures are based on exchange data as of Tue, Oct 27, 2026, 5:00 PM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.