BLS Polymers shares hit record high after second day of gains
The stock rose nearly 7 per cent on Wednesday, climbing 92 per cent above its initial public offering price.
BLS Polymers shares rose nearly 7 per cent on Wednesday, 4 November, to reach a new record high of ₹288 on the BSE, according to Mint. This marked the second consecutive session of gains for the company following its market debut.
The stock has climbed approximately 92 per cent since its IPO price of ₹150. On Tuesday, the shares listed at a premium, closing at ₹269.30 on the BSE and ₹268.80 on the NSE.
The company's ₹255-crore IPO was subscribed 241.22 times on the final day of bidding. According to its red herring prospectus, the firm intends to use ₹77.56 crore of the proceeds to grow its manufacturing capacity and ₹89.5 crore for working capital.
BLS Polymers produces custom-formulated polymer compounds for sectors including telecommunications, railways, and oil and gas. The company maintains a production site in Goa with an annual capacity of 35,251 metric tonnes.
Dr Ravi Singh, Chief Research Officer at Master Capital Services Ltd, noted that the company made a strong debut. He advised investors to monitor revenue growth, EBITDA margins, and the execution of planned capacity expansions.
The company's revenue from operations reached ₹349.43 crore in FY26, with EBITDA margins improving to 13.33 per cent from 12.08 per cent in the previous year.