BLS Polymers share price extended its winning streak for a second consecutive session on Wednesday, 4 November, rising nearly 7% to hit a fresh record high of ₹288 apiece on the BSE. The stock has surged around 92% over its IPO price of ₹150, following an impressive market debut on Tuesday.
BLS Polymers share price today opened at ₹277.20 apiece on the BSE, the stock touched an intraday high of ₹288 per share, and a intraday low of ₹273.95 apiece.
The stock had listed at a substantial premium on 3 November, closing nearly 79.5% above its issue price. On the BSE, BLS Polymers shares opened at ₹244.10, marking a gain of 62.73% over the IPO price. Buying interest intensified during the session, taking the stock to an intraday high of ₹285.25, up 90.16%. It eventually settled at ₹269.30, a premium of 79.53%.
On the NSE, the shares debuted at ₹248, representing a 65.33% premium over the issue price, and closed at ₹268.80, up 79.2%. The company commanded a market capitalisation of ₹1,670.52 crore at the close of its listing day session.
According to the red herring prospectus, BLS Polymers plans to deploy ₹77.56 crore from the IPO proceeds to expand its manufacturing facility and increase production capacity for select existing products. Another ₹89.5 crore has been earmarked for working capital requirements, while the remaining proceeds will be used for general corporate purposes.