New Delhi, Oct. 30 -- The IPO of BLS Polymers Ltd was subscribed a whopping 241.22 times on the final day of bidding on Thursday, driven by strong demand from non-institutional investors (NIIs).
The Rs 255-crore IPO received bids for 2,87,05,58,600 equity shares, worth Rs 43,058.25 crore, against 1,19,00,000 shares on offer, as per the NSE data. The quota for NIIs received 559.20 times subscription, while the category for QIBs was subscribed 200.25 times. The retail portion was booked 128.36 times.
BLS Polymers Ltd has raised Rs 76.50 crore from anchor investors. The IPO comprises entirely a fresh issue of 1.7 crore equity shares. The issue price band has been fixed at Rs 142-150 per share.
According to the red herring prospectus, BLS Polymers plans to utilise Rs 77.56 crore from the IPO proceeds to expand its manufacturing facility & increase production.
Published by HT Digital Content Services with permission from Millennium Post.