BLS Polymers IPO: Listing Price, Share Price Today, Listing Gains and Review

BLS Polymers IPO listing price and share price today

BLS Polymers shares opened at ₹248 on NSE and ₹244.10 on BSE on 3 November 2026, against an issue price of ₹150 (Confirmed, exchange data). That is a listing gain of 65.3%, or ₹9,800 on one 100-share lot (Calculated). The stock swung between ₹225 and ₹285 during the day and closed at ₹268.80 on NSE, 79.2% above the issue price.

The strong debut followed one of the most heavily bid issues of the season, with NIIs at 559.20x. It opened well above the unofficial grey-market quotes seen in October. BLS Polymers trades on NSE under the symbol BLSPOLY. Compare other debuts in our IPO GMP vs listing price tracker and the listed IPO list.

BLS Polymers IPO allotment status and final subscription

BLS Polymers IPO closed on 29 October 2026 with bids for 241.22 times the shares on offer. In addition, every category was heavily oversubscribed: NIIs 559.20x, QIBs 200.25x and retail 128.36x (exchange data as compiled by Chittorgarh). Groww showed a similar 238.64 times.

Allotment is expected on 30 October. Refunds and demat credits follow on 2 November, and the shares are due to list on BSE and NSE on 3 November. These dates come from the issue timetable and remain tentative.

Retail odds are low. Each successful retail applicant gets one lot of 100 shares, and retail bids were 128.36 times the quota. Therefore, if most applicants bid one lot, only about 1 in 128 would get shares. This is our estimate, not an official ratio; the basis of allotment will confirm it. See how to check BLS Polymers IPO allotment status below.

BLS Polymers IPO overview

Listing data as of 3 November 2026 (NSE/BSE); bidding data as compiled during the issue window; page reviewed 8 November 2026. Confirmed = red herring prospectus (RHP), SEBI or exchange notice. Reported = media or broker summaries of the RHP. Calculated = our arithmetic. Unofficial = grey-market quotes.

The BLS Polymers IPO opened on 27 October and closes on 29 October 2026 at a price band of ₹142 to ₹150 a share. One lot is 100 shares, so the minimum bid is ₹15,000 at the upper band. The ₹255 crore issue is entirely new shares (no offer for sale), so all of the money goes to the company, mainly for a capacity expansion and working capital. At ₹150 the company is worth about ₹930 crore after the issue, or roughly 34 times its FY26 profit. Allotment is due on 30 October and listing on BSE and NSE on 3 November.

BLS Polymers IPO details at a glance

What BLS Polymers does

BLS Polymers makes specialised plastic compounds rather than finished products. Its range covers HDPE, MDPE, LLDPE, XLPE, halogen-free flame-retardant (HFFR) and PVC compounds, cable-filling compounds and adhesive coatings (Reported). Cable makers use them as the insulation and outer sheath on power, telecom and railway cables; pipeline operators use them to coat buried oil, gas and water pipes against corrosion. Manufacturing is in Goa; the registered office is in New Delhi. The promoter family (Vinod, Sushil, Madhukar, Diwakar and Karan Aggarwal) owns 98.53% before the issue.

Two features of the business matter for investors. First, it is closely tied to cable demand: wire and cable customers made up about 81% of FY26 revenue and pipeline coating the other 19% (Reported, from RHP summaries). Second, sales are concentrated: the top five customers accounted for 53.45% of FY26 revenue, up from 36.85% in FY24 (Reported, as summarised by IPO Central). Exports were about 8% of FY25 revenue (Reported), with a broker summary flagging a heavy reliance on Saudi Arabia within that.

BLS Polymers financials: revenue, profit and margins

The story is profit growing much faster than sales. Revenue rose only about 6% in FY26, but net profit rose about 28%, and FY25 profit had already nearly tripled from ₹7.52 crore in FY24 (Reported). Better margins explain it: EBITDA margin moved from about 12% in FY25 to 13% in FY26 and 15% in the June 2026 quarter (Calculated). That quarter alone earned ₹10.23 crore, more than a third of the whole of FY26.

The question an investor has to answer is whether those margins hold. Polymer compounds are made from petrochemical resins whose prices swing, and a business selling half its output to five customers has limited pricing power. Before the IPO the balance sheet was stretched: borrowings of ₹73.92 crore exceeded net worth of ₹67.94 crore at March 2025 (Reported). Profits since then and the ₹255 crore of fresh equity should leave it much less leveraged after listing.

BLS Polymers IPO valuation: what ₹150 a share implies

The fresh issue raises the share count by about 38%, from 4.50 crore to 6.20 crore, so the multiple depends on which share count you use:

• Post-issue market value: about ₹930 crore at ₹150 (Calculated: 6,20,31,834 shares × ₹150).
• P/E after the issue: about 34.4 times FY26 profit (Calculated).
• P/E before dilution: about 25 times (Calculated on 4,50,31,834 shares).
• Market value to sales: about 2.7 times FY26 revenue (Calculated).

The post-issue figure is the one that matters, because new shareholders own a slice of the enlarged company. A multiple in the mid-30s already assumes the higher margins of FY26 and the June quarter continue and that the expansion funded by the IPO adds profit. If the June quarter were repeated for a full year, earnings would be well above FY26 and the multiple would look lower; one quarter is a thin basis for that assumption.

BLS Polymers IPO subscription status

Demand built quickly. By the end of day 1 (27 October) the issue was about 9.6 times covered, with QIBs already at about 12 times (reported). On day 2, non-institutional investors took their portion to 78.81 times and retail investors to 29.85 times, lifting the total to 35.30 times (exchange data as compiled by Chittorgarh, 28 October 2026, 5:05 PM IST). Bidding closed on 29 October. On the final day, QIBs took their portion to 200.25 times, NIIs to 559.20 times and retail investors to 128.36 times, for a total of 241.22 times (exchange data as compiled by Chittorgarh, 29 October 2026, 5:54 PM IST). Groww showed a similar 238.64 times.

With retail demand near 30 times, most retail applicants will not get a lot: allotment is by lottery, one lot per successful applicant (estimate based on SEBI retail allotment rules). Applying from separate family PANs helps more than bidding for extra lots.

BLS Polymers IPO GMP vs listing price

Listing update: BLS Polymers opened at ₹248 on NSE on 3 November, ₹98 above the ₹150 issue price. That is well above the ₹20 to ₹38 grey-market quotes we saw in October, and above the about ₹47 quoted by one tracker just before listing (Unofficial, single source).

Grey-market quotes for BLS Polymers have been reported for about a week but vary widely: IPO Guru and IPOji showed about ₹20 a share on 19 October, while Chanakya Nipothi quoted about ₹38 on 23 October (Unofficial; not verified by us). With quotes this far apart we are not treating any one figure as reliable. GMP is an unregulated dealer quote, not an exchange price, and not a forecast of the listing price. See our GMP guide and the GMP today page.

BLS Polymers IPO lot size and minimum investment

The retail category (at least 35%) is worth about ₹89 crore at the upper band, which is enough for roughly 59,500 minimum applications (Calculated). If retail demand exceeds that, allotment is by lottery and each winner gets one lot of 100 shares.

BLS Polymers IPO review: strengths and risks

Strengths

• All of the ₹255 crore goes to the company; promoters are not selling shares.
• Clear use of money: ₹69.84 crore for added capacity and ₹75 crore for working capital, with the rest for general purposes.
• Profit and margins have improved for two years running, and the June 2026 quarter was the strongest yet.
• Products sit in infrastructure supply chains (power, telecom, railways, pipelines) that need approved, specified compounds.

Risks

• Customer concentration: five customers bought more than half of FY26 output.
• Slow revenue growth: about 6% in FY26, so the profit gains came from margins, which can reverse.
• Raw-material swings: resin prices follow crude and petrochemical cycles.
• Valuation: about 34 times FY26 earnings after dilution leaves little room for a weaker year.
• Execution: the new capacity has to be built and filled before it adds to profit.

Our Scouter Reading: 4,500, Charged

We score BLS Polymers at 4,000 out of 10,000 on our earlier v1 research scale, in the lower part of the Charged band: a mixed case with real trade-offs. Points for: an all-fresh issue that strengthens the balance sheet, rising margins and a specific expansion plan. Points against: slow sales growth, dependence on a handful of customers, commodity input costs and a post-issue multiple in the mid-30s on one year of improved earnings. The Scouter Reading rates the research case; it is not a recommendation to apply or avoid.

How to check BLS Polymers IPO allotment status

The basis of allotment is expected on 30 October 2026. You can check by PAN or application number on the registrar’s site, KFin Technologies, or on the BSE and NSE allotment pages. Refunds and demat credit are expected on 2 November. Our allotment status guide covers each method.

What to watch after listing

• First quarterly results as a listed company, the first test of the numbers in the offer document.
• Anchor lock-in expiries: half of the anchor shares can be sold 30 days after allotment and the rest after 90 days, which can add supply.
• Trading volumes and how the price holds against the issue price over the first few weeks.

The SFC Environmental Technologies IPO runs on the same dates; see all upcoming IPOs.

BLS Polymers IPO: frequently asked questions

Sources: BLS Polymers RHP (SEBI) · BSE public issues · KFin Technologies (registrar) · Groww (RHP financials) · NewsBytes

Disclaimer: This article is for information and education only and is not investment advice or a recommendation to apply, buy or sell. Figures are from the sources named and may change; read the RHP before investing. GMP is unofficial.