The BLS Polymers IPO listed today: shares opened at ₹248 on the NSE on 3 November 2026. That is 65.33% above the issue price of ₹150.
Before the open, the grey market was pointing to +45.33%. The shares opened +65.33%.
What did one lot do at the open?
One lot of 100 shares was worth ₹24,800 at the opening price, which is a gain of ₹9,800 on paper. The listing was at a premium to the issue price. Real profit or loss depends on the price at which you sell, which can move a lot through the day. The first day often swings more than later ones, because the stock has no trading history yet and the opening price is set in a special pre-open session.
How did the grey market call it?
The last grey market quote before listing was ₹68 (45.33%), which pointed to ₹218. The open was ₹30 above that level. Here is how the quote moved in the days before.
| Date | GMP (₹) | Implied gain |
|---|---|---|
| 28 Oct | 51 | 34.00% |
| 29 Oct | 68 | 45.33% |
| 30 Oct | 70 | 46.67% |
| 31 Oct | 68 | 45.33% |
| 1 Nov | 68 | 45.33% |
| 2 Nov | 66 | 44.00% |
The BLS Polymers IPO GMP stayed between ₹51 and ₹70 after bidding closed. GMP is an unofficial grey market number, not an exchange price.
What our data shows
At 241.22 times, this was the second most subscribed mainboard IPO of 2026, against a median of 21 times. The last GMP of ₹66 pointed to about 44% over the issue price.
How strong was the demand?
The issue closed at 241.22 times, one of the highest books of 2026. QIBs bid 200.25 times, NII 559.20 times and retail 128.36 times.
| Category | Subscribed (times) |
|---|---|
| QIB | 200.25 |
| NII (HNI) | 559.20 |
| Retail | 128.36 |
| Total | 241.22 |
Our final-day subscription post has the full story.
What does the company do?
BLS Polymers makes polymer compounds that insulate and protect wires, cables and pipelines. It runs one plant in Goa and sells to power, telecom, railway and water customers.
| Financial year | Total income (₹ crore) | Profit after tax (₹ crore) |
|---|---|---|
| FY2024 | 301.50 | 7.52 |
| FY2025 | 336.70 | 21.14 |
| FY2026 | 354.41 | 27.01 |
The ₹255 crore issue was entirely fresh, so all the money goes to the company. Of that, ₹77.56 crore is for expanding plant capacity and ₹89.50 crore is for working capital. Unistone Capital was the lead manager.
What happens next?
Refunds and demat credit were done on 2 November, so allotted shares are in demat accounts. Past listings and how they fared are on our IPO performance page. Lock-in dates for anchor investors will follow in a separate post.
Watch · IPO Guru on YouTube
