The Initial Public Offering (IPO) of BLS Polymers witnessed an extraordinary response from investors, concluding its subscription period on Thursday, October 29, with an oversubscription rate exceeding 238 times. The issue, which aimed to raise Rs 255 crore, garnered bids totaling approximately Rs 42,500 crore through nearly 59 lakh applications.
BLS Polymers offered its shares in a price band of Rs 142-150 per share, with a lot size of 100 shares. Market indicators suggested a strong listing, with its Grey Market Premium (GMP) surging to Rs 57-60 apiece, hinting at potential listing gains of 38-40 percent for investors.
Other IPOs Closing and Ongoing Subscriptions
Alongside BLS Polymers, SFC Environmental Technologies also concluded its subscription on Thursday. This IPO was subscribed 8.9 times overall, attracting over 1.92 lakh applications and bids worth Rs 4,200 crore. The Rs 668 crore issue had a price band of Rs 313-330 per share and a lot size of 45 shares. Its GMP indicated more modest listing gains of about 2-3 percent, standing at Rs 7-8.
Meanwhile, the IPO of MK Sons Fine Jewels continued its bidding, reaching 1.15 times subscription by the second day. This Rs 275 crore issue, with a price band of Rs 153-162 and a lot size of 91 shares, is set to close on Friday, October 30. Its GMP suggested gains of 7-9 percent.
The Bombay Coated & Special Steels IPO, which opened on Thursday, saw a subscription of 2.61 times on its first day. This Rs 183 crore issue, priced at Rs 78-82 per share with a lot size of 182 shares, is scheduled to close on Monday, November 2. Its GMP indicated potential gains of 10-11 percent.
Upcoming Allotments and Industry Developments
In other IPO news, EAAA India Alternatives is expected to finalize its basis of allotment today. The Rs 1,200 crore issue was subscribed 5.5 times overall during its three-day bidding period, with its GMP improving to Rs 27-30 over the proposed issue price of Rs 1,665.
Separately, Sarva Foam Industries, India's largest rebonded PU foam player, announced plans to invest £6 million in Scotland for a new manufacturing facility. This marks the initial phase of its international expansion. The company filed its draft red herring prospectus (DRHP) on September 30, 2026, and is currently awaiting approval from SEBI for its own impending IPO.