BLS Polymers lists with bumper 63% premium; stable debut for SFC Environmental

Shares of BLS Polymers listed at Rs 244.10 on the BSE on Tuesday, October 3, reflecting a premium of 62.7% to its issue price of Rs 150. Similarly, the shares of SFC Environmental Technologies listed at Rs 354.05 on BSE. This reflects a premium of 7.3% from its issue price of Rs 330 per share.

Here is a look at the key details of the two issues –

The public issue of BLS Polymers was open for subscription from October 27 to October 29. The offer comprised a fresh issue of up to 1.70 crore equity shares. The price band was fixed at Rs 142 to Rs 150.

BLS Polymers’ initial public offering (IPO) was subscribed 241.22 times by the end of the final day of bidding, with overwhelming demand across all three categories.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 200.25 times, according to exchange data. The portion reserved for non-institutional investors (NIIs) was subscribed 559.20 times the shares on offer, while the retail investors portion was subscribed 128.36 times the shares allocated to them.

The public issue of SFC Environmental Technologies was open for subscription from October 27 to October 29. . The issue comprised a fresh issue of up to Rs 150 crore and an offer for sale of up to 1,56,82,750 shares. The price band was Rs 313 to Rs 330 per share.

The IPO was subscribed 9.47 times by the end of the final day of bidding. The portion reserved for QIBs was subscribed 18.81 times. The portion reserved for NIIs was subscribed 12.81 times the shares on offer, while the retail investors portion was subscribed 2.71 times the shares allocated to them.

The company operates in wastewater treatment and environmental technology. Proceeds from the fresh issue are intended to support the uses set out in its offer document, including debt repayment and working capital requirements.