BLS Polymers shares are commanding a strong premium in the grey market ahead of their stock market debut on November 3, with the company's initial public offering (IPO) attracting overwhelming investor interest during the subscription period.
The Rs 255-crore IPO is currently commanding a grey market premium (GMP) of Rs 66 per share, or around 44 percent, as of November 2, according to InvestorGain. At the upper end of the IPO price band of Rs 150, the GMP indicates a potential listing price of Rs 216 per share.
However, the grey market premium is an unofficial indicator of investor sentiment and does not guarantee listing gains. It can fluctuate depending on market conditions and demand ahead of the listing.
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The IPO opened for subscription on October 27 and closed on October 29. The company had fixed the price band at Rs 142-150 per share, valuing it at approximately Rs 930.5 crore at the upper end of the price band.