BLS Polymers, SFC Environmental shares zoom up to 81% in maiden trade

Shares of BLS Polymers Ltd and SFC Environmental Technologies Ltd made strong debuts on Dalal Street on Tuesday, with both stocks extending their gains after listing. BLS Polymers surged 81.33 per cent over its initial public offering (IPO) price, while SFC Environmental climbed 29.12 per cent.

BLS Polymers shares were listed at Rs 248 apiece on NSE, a premium of 65.33 per cent over the IPO issue price of Rs 150. The stock extended its gains during the session to close at Rs 272, up 81.33 per cent from the issue price.

According to NSE data, a total of 793.15 lakh BLS Polymers shares changed hands on the listing day, with the traded value standing at Rs 2,104.77 crore. The company's market capitalisation stood (m-cap) at Rs 1,667.42 crore.

The IPO was open for subscription from October 27 to October 29, with a price band of Rs 142-150 per share and a lot size of 100 shares. The company raised Rs 255 crore through the issue, which comprised an entirely fresh issue of 1.7 crore equity shares.

The public issue was subscribed 241 times, attracting bids worth over Rs 43,000 crore through nearly 61.60 lakh applications. The qualified institutional buyers' (QIB) portion was subscribed 200.25 times, while the non-institutional investors' (NII) category saw nearly 560 times subscription. The retail portion was subscribed 128 times.

SFC Environmental shares

Shares of SFC Environmental Technologies were listed at Rs 355.10 on NSE, a premium of 7.61 per cent over the IPO issue price of Rs 330. The stock subsequently hit the upper price band of Rs 426.10, registering gains of 29.12 per cent over the issue price.

As per NSE data, 210.79 lakh shares changed hands during the session, with the traded value at Rs 819.64 crore. The company's market capitalisation stood at Rs 4,173.9 crore.

The IPO was open for subscription between October 27 and October 29, with a price band of Rs 313-330 per share and a lot size of 45 shares. The company raised Rs 668 crore through the public issue, comprising a fresh issue of Rs 150 crore and an offer for sale (OFS) of 1,56,82,750 equity shares.

The issue was subscribed nearly 9.5 times, attracting bids worth more than Rs 4,425 crore through 2.83 lakh applications. The QIB portion was subscribed 18.81 times, while the NII category received 12.8 times subscription. The retail portion was subscribed 2.7 times.