BLS Polymers, SFC Environmental Technologies IPOs open: price bands, dates, GMP

Two mainboard initial public offerings opened for subscription on Tuesday, 27 October: BLS Polymers, a Rs 255 crore issue from a maker of polymer compounds for cables and pipelines, and SFC Environmental Technologies, a Rs 668 crore issue from a wastewater treatment company. Both close on Thursday, 29 October, with allotment expected on Friday, 30 October, and listing on the BSE and NSE scheduled for Tuesday, 3 November.

BLS Polymers: fresh issue to fund Goa expansion

BLS Polymers has set a price band of Rs 142 to Rs 150 a share. The issue is entirely a fresh sale of about 1.70 crore shares, with no offer for sale, and investors can bid in lots of 100 shares, which works out to Rs 15,000 at the top of the band. The company raised Rs 76.50 crore from seven anchor investors at Rs 150 a share before the issue opened.

Founded in 1991 and part of the BLS Group, the New Delhi-based company makes specialised polymer compounds used in wires, cables and underground pipelines for the power, telecom, railways, water and oil and gas sectors. Wires and cables accounted for about 81% of its FY26 revenue. It reported a net profit of Rs 27.01 crore in FY26 and Rs 10.23 crore in the June 2026 quarter. Proceeds will go mainly towards expanding its Goa plant, where capacity is planned to rise from 35,251 tonnes a year to 87,301 tonnes, besides working capital. Unistone Capital is the sole book-running lead manager and KFin Technologies is the registrar.

Several brokerages have recommended subscribing, mostly with a long-term view, while flagging customer and supplier concentration, raw material price swings and dependence on a single facility.

SFC Environmental: mostly an offer for sale

SFC Environmental Technologies, based in Navi Mumbai and incorporated in 2005, provides wastewater treatment, recycling and solid waste solutions, including its proprietary C-Tech sewage treatment technology. Its price band is Rs 313 to Rs 330 a share, valuing the company at about Rs 3,233 crore at the upper end. The issue combines a Rs 150 crore fresh issue with an offer for sale of up to 1.57 crore shares worth about Rs 518 crore by promoters and existing shareholders. The minimum bid is 45 shares, or Rs 14,850.

The company raised Rs 200.26 crore from 17 anchor investors, including SBI Mutual Fund, ICICI Prudential Mutual Fund and Nippon India Mutual Fund, at Rs 330 a share. Fresh issue money will be used to repay debt and fund working capital. IIFL Capital Services, JM Financial and Nuvama Wealth Management are the lead managers, and MUFG Intime India is the registrar. Brokerage views are mixed, with some advising investors to subscribe and others rating it neutral, citing long receivable cycles on government contracts.

In both issues, half the shares are reserved for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.

Grey market signals

Unofficial grey market premiums, which are not regulated and often change sharply, have been firmer for BLS Polymers. Tracking site Investorgain put its premium at about Rs 40 on Tuesday morning, implying a possible listing gain of around 27% over the upper band. For SFC Environmental, IPO Watch put the premium at Rs 32 on Monday, or roughly 10%. These figures are indicative only and are no guide to actual listing prices. Bidding on the first morning was slow, as is common on opening day.

Jio listing on Wednesday

Separately, shares of Jio Platforms, whose Rs 30,000 crore-plus IPO closed last week, are scheduled to list on the BSE and NSE on Wednesday, 28 October.

This article is for information only and is not investment advice.

Sources

• Business Today: BLS Polymers IPO opens today: Should you subscribe? Check price band, reviews, GMP & more
• Business Today: SFC Environmental Technologies IPO opens today: Should you subscribe?
• Business Standard: SFC Environmental Technologies IPO opens Oct 27, price band at Rs 313-330
• Upstox: BLS Polymers IPO Day 1: Check subscription status, price band, lot size and key dates
• Goodreturns: 2 IPOs Open Tomorrow: BLS Polymers vs SFC Environmental Technologies
• Investorgain: BLS Polymers IPO GMP Today & History
• IPO Watch: SFC Environmental Technologies IPO GMP Today
• Groww: Jio Platforms IPO Day 3: Subscription Status, Timeline & Key Issue Details