BLS Polymers IPO Day 2: Subscribed 30.67x; NII Demand at 63.79x
Key Highlights
BLS Polymers IPO (₹179 crore mainboard IPO) was subscribed 30.67x on Day 2 of 3, with NII at 63.79x. See category-wise subscription and day-wise bids.
Last updated: Wed, Oct 28, 2026, 5:00 PM IST · mainboard · & · Day 2 of 3
- BLS Polymers IPO subscribed 30.67x overall on Day 2, up from 9.61x on Day 1
- Total bids: 36,49,57,000 shares against 1,19,00,000 shares on offer
- Category-wise: 12.18x, 63.79x, 27.04x
- Price band: ₹142 to ₹150 per share
- The issue closes on Thu, Oct 29, 2026
The BLS Polymers IPO reached a subscription multiple of 30.67x as of 5:00 PM IST on day 2 of 3. This indicates the total number of shares bid for divided by the shares offered to the public. The non-institutional investors (NII) category, which includes individuals and entities bidding above ₹2 lakh, led the demand at 63.79x. The overall subscription rose from 9.61x on day 1 to 30.67x on day 2.
BLS Polymers IPO Status: Day 2
Day-wise subscription
| Day | Date | Total bids (shares) | Bid value at upper band (₹ crore) | Subscribed (x) |
|---|---|---|---|---|
| Day 1 | Tue, Oct 27, 2026 | 11,43,75,200 | 1,715.63 | 9.61x |
| Day 2 | Wed, Oct 28, 2026 | 36,49,57,000 | 5,474.36 | 30.67x |
Category-wise subscription
| Category | Shares offered | Day 1 bids | Day 1 (x) | Day 2 bids | Day 2 (x) |
|---|---|---|---|---|---|
| QIB | 34,00,000 | 4,09,08,400 | 12.03x | 4,14,17,300 | 12.18x |
| NII | 25,50,000 | 3,31,63,100 | 13.01x | 16,26,66,800 | 63.79x |
| of which individual NII | — | 3,22,13,500 | — | 15,77,45,700 | — |
| of which corporate NII | — | 2,88,200 | — | 6,96,300 | — |
| of which other NII | — | 6,61,400 | — | 42,24,800 | — |
| Retail | 59,50,000 | 4,03,03,700 | 6.77x | 16,08,72,900 | 27.04x |
| Total | 1,19,00,000 | 11,43,75,200 | 9.61x | 36,49,57,000 | 30.67x |
All investor categories subscribed beyond their allocated quotas by the end of the second day. The NII category saw the highest activity at 63.79x, followed by retail investors at 27.04x and qualified institutional buyers (QIB) at 12.18x. The day-on-day increase in total bids from 11,43,75,200 shares to 36,49,57,000 shares reflects broad participation across all segments of the market.
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. These compounds act as essential raw materials for sheathing, jacketing, and insulation of wires and cables, as well as for coating underground pipelines to protect against corrosion. With over three decades of operations, the company manufactures its products at a single facility in Goa. It primarily earns revenue through direct sales to a diversified customer base across India.
BLS Polymers Financial Highlights
| Metric | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| from operations (₹ crore) | 3,494.28 | 3,284.36 | 2,963.58 |
| Total income (₹ crore) | 3,544.11 | 3,366.98 | 3,015.04 |
| Profit after tax (₹ crore) | 270.09 | 211.36 | 75.22 |
| Net worth (₹ crore) | 949.34 | 679.42 | 468.27 |
| Total borrowings (₹ crore) | 480.95 | 709.19 | 884.44 |
Revenue from operations grew from ₹3,284.36 crore in FY 2024-25 to ₹3,494.28 crore in FY 2025-26. Profit after tax increased from ₹211.36 crore in FY 2024-25 to ₹270.09 crore in FY 2025-26. The company reported a margin of 7.73% for FY 2025-26.
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 operates out of a single manufacturing facility in Goa, which may impact business continuity if operations are disrupted.
- The business model relies on a small number of top customers for a significant portion of its revenue.
- The company faces significant working capital requirements to maintain its operations and growth.
- Potential litigation risks and reliance on third-party logistics providers could affect the company’s financial performance.
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 Wed, Oct 28, 2026, 5:00 PM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.