BLS Polymers and SFC Environmental Technologies were the two companies that entered the stock market today. Their listing performances reflected the difference in investor demand for the two IPOs.
BLS Polymers IPO Listing
BLS Polymers delivered a strong debut on both stock exchanges. Against its IPO price of Rs 150, the company's shares listed at Rs 244.10 on the BSE, registering a gain of Rs 94.10 or 62.73%.
On the NSE, BLS Polymers shares debuted at Rs 248, representing a premium of 65.33% over the issue price.
Before this, the country's largest IPO was that of Jio Platforms, whose shares listed at a premium of 21.36% in the stock market.
The strong listing of BLS Polymers followed an overwhelming response from investors. According to NSE data, the IPO was subscribed 241.22 times. Against the 1.19 crore shares on offer, investors submitted bids for 287.05 crore shares.
The Non-Institutional Investors (NII) category led the subscription figures, with its reserved portion subscribed 559.20 times. The Qualified Institutional Buyers (QIB) category was subscribed 200.25 times, while the portion reserved for retail investors received bids for 128.36 times the shares on offer.
SFC Environmental Technologies IPO Listing
SFC Environmental Technologies also made a positive debut, although its listing gains were significantly lower than those of BLS Polymers.
Against an IPO price of Rs 330, the company's shares listed at Rs 354.05 on the BSE, marking a gain of Rs 24.05 or 7.29%.
On the NSE, SFC Environmental Technologies shares debuted at Rs 355.10, delivering a premium of 7.61% over the issue price.
According to NSE data, the company's IPO received 9.47 times subscription. Investors placed bids for 13,41,33,255 shares against the 1,41,59,744 shares offered.
The listing performances of the two companies highlighted a significant difference in their IPO subscription demand, with BLS Polymers recording a substantially stronger debut at a premium of up to 65.33%, compared with SFC Environmental Technologies' listing gain of 7.61% on the NSE.
About The Author
Comment List