BLS Polymers IPO Day 2: GMP ₹41 (+₹3)

Welcome back to our daily IPO watch! It’s Day 2 for the BLS Polymers IPO, and we’re diving deep into the latest subscription figures and Grey Market Premium (GMP) movements. The IPO, which opened yesterday and is set to close on October 29th, 2026, offers shares at an issue price of ₹150. Let’s see how things are shaping up as we move through the subscription period.

Subscription Status

As of Day 2, the subscription numbers for BLS Polymers are still showing 0x across all categories: Retail, NII (Non-Institutional Investors), QIB (Qualified Institutional Buyers), and the total. This might seem unusual at first glance, especially for a Mainboard IPO on the NSE. However, it’s quite common for significant subscription activity to pick up pace towards the latter half of the IPO window, particularly on Day 2 and especially on Day 3. Many investors prefer to wait and observe the trend before committing their funds. Notably, the absence of early bird rush doesn’t necessarily signal a lack of interest. It could simply mean investors are adopting a wait-and-watch approach, which is a prudent strategy for many. We’ll be keenly watching for any movement as we head into the final day.

GMP Update

Now, let’s talk about the Grey Market Premium (GMP). The current GMP for BLS Polymers stands at a robust ₹41. This is an encouraging increase from yesterday’s GMP of ₹38, marking a rise of ₹3. This upward trend in GMP is a positive indicator, suggesting that the market sentiment towards BLS Polymers is strengthening. A higher GMP generally implies that investors are expecting a good listing gain. Based on the issue price of ₹150 and the current GMP of ₹41, the expected listing price is around ₹191 (₹150 + ₹41). This ₹41 premium translates to a potential listing gain of approximately 27.33% (₹41 / ₹150 * 100), which is quite attractive.

Should You Apply?

So, the million-dollar question: should you be applying for BLS Polymers? It’s a decision that needs a balanced perspective. On one hand, the GMP is showing a healthy upward trend, pointing towards a potentially strong listing. The expected listing price of ₹191, a good 27% above the issue price, is certainly appealing. On the other hand, the subscription numbers are still at zero as we enter Day 2. This could be a cause for concern for some, as it implies a lack of immediate investor enthusiasm. However, as we’ve discussed, this can often change dramatically on the final day. The lot size is 100 shares, so an investment would require ₹15,000 per lot (100 shares * ₹150). It’s always wise to remember the SEBI advisor’s caution: always do your own research and assess your risk appetite before investing. While the GMP is a useful indicator, it’s not a guarantee. The final subscription figures and any news surrounding the company will play a crucial role in the coming days. We’ll be back with more updates tomorrow!

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