The initial public offering (IPO) for BLS Polymers remained in strong demand on the last day of bidding, with the issue receiving 46.74 times subscription by 10:15 am on October 29, as per NSE data.
The Rs 255-crore IPO received bids for 55,61,89,000 shares against 1,19,00,000 shares on offer. The non-institutional investors led the demand with 116.98 times subscription, followed by retail investors with 36.35 times subscription.
In the grey market, BLS Polymers shares were commanding a premium of 34 percent on the morning of October 29, according to InvestorGain. The grey market premium is an unofficial indicator of investor sentiment towards an IPO ahead of its stock market debut. It does not guarantee the listing price or returns.
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BLS Polymers has fixed the price band for its IPO at Rs 142-150 per share. At the upper end of the price band, the company is valued at approximately Rs 930.5 crore.