BLS Polymers IPO allotment date is October 30 after 241-times subscription

The BLS Polymers IPO allotment date is Friday, October 30, 2026, after the initial public offering (IPO) of the polymer compound maker, which has a factory in Goa, closed on Thursday, October 29, with bids for 241.22 times the shares on offer. The Rs 255 crore issue, priced at Rs 142 to Rs 150 a share, drew its strongest demand from non-institutional investors, whose portion was subscribed 559.20 times. The shares are expected to list on the NSE and BSE on Tuesday, November 3, 2026.

This is a follow-up to the opening of the issue on October 27. The new development is the final demand figure. A subscription of 241 times means investors together asked for more than 240 shares for every share available. For most applicants, that sharply cuts the chance of receiving any shares at all. In the retail category, where each successful applicant gets one minimum lot when demand is far above supply, the allotment works as a lottery run by the registrar; with retail demand at 128 times, only a small share of retail applicants can expect a lot.

The split by category also tells a story. Large institutional investors such as mutual funds and insurers, the QIBs, bid for about 200 times their quota, which shows strong professional interest in a small industrial company. The highest demand came from non-institutional investors, who are wealthy individuals and corporate bodies bidding more than Rs 2 lakh. Part of that demand is often financed with borrowed money in the hope of a quick listing gain, which is one reason very high NII numbers are not by themselves a judgment on the business.

BLS Polymers makes custom-formulated polymer compounds, the plastic and rubber-based materials used to insulate and sheath electrical wires and cables and to make pipes. Its fortunes are tied to spending on power lines, buildings, telecom and data-centre cabling, and water and gas pipelines. The money raised goes to the company, not to its owners: the largest part is set for capital spending to expand capacity for some existing products at its Goa factory, with the rest for working capital and general corporate purposes. Promoters held 98.53% before the issue and will hold 71.53% after it, a drop that comes entirely from the new shares.

The grey market, an unofficial and unregulated market where IPO shares are traded informally before listing, has quoted varying premiums for the stock. Those quotes are not official prices and do not decide the listing price, which is set by trading on the exchanges on listing day. Peepals does not offer advice on whether to buy, hold or sell the shares.

Short-term: Applicants will learn on October 30 whether they have been allotted shares. Those who are not will have the blocked amount released from their bank accounts, and successful applicants will see shares in their demat accounts before listing on November 3.

Long-term: With the fresh capital, BLS Polymers plans to add capacity at Goa. Whether the strong IPO demand is justified will depend on how the company uses that money and how demand from the cable and pipe industries holds up.

Who is affected: IPO applicants, especially retail investors whose chance of allotment is low, the company's promoters and employees, and its customers in the wire, cable and pipeline industries.

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