BLS Polymers IPO
BLS Polymers IPO Details
-
Open Date
27 Oct 2026
-
Close Date
29 Oct 2026
- IPO Price Range
₹ 142 to ₹150
- IPO Size
₹ 255.00 Cr
BLS Polymers IPO Timeline
Last Updated: 24 October 2026 5:57 AM by 5paisa
BLS Polymers Limited manufactures custom-formulated polymer compounds used in wire and cable insulation, sheathing, jacketing and underground pipeline coatings. Its product portfolio includes polyethylene-based compounds, cross-linked polyethylene compounds and other specialised polymer formulations. The company serves customers across power, telecommunications, railways, water distribution and oil and gas infrastructure. Its manufacturing facility is located in Goa, supported by warehousing facilities in Goa, New Delhi and Bhiwandi. BLS Polymers primarily operates through a B2B model, supplying domestic customers and exporting to international markets.
Established in: 1991
Managing Director: Karan Aggarwal
Peers:
| Metric | BLS Polymers Limited | Kingfa Science & Technology (India) Limited | DDev Plastiks Industries Limited | Plastiblends India Limited |
|---|---|---|---|---|
| Face Value (₹) | 10 | 10 | 1 | 5 |
| Sales (₹ Cr) | 349.43 | 1995.55 | 2947.87 | 788.66 |
| PAT (₹ Cr) | 27.01 | 185.26 | 201.82 | 36.69 |
| EPS (₹) | 5.99 | 144.10 | 19.50 | 14.12 |
| P/E | 25.04* | 46.25 | 12.97 | 14.53 |
| RoNW (%) | 28.45 | 13.24 | 19.92 | 8.17 |
| CMP (₹) | — | — | — | — |
BLS Polymers Objectives
1. Financing capital expenditure of approximately ₹77.56 crore to expand the company's manufacturing facility and increase production capacity for certain existing products.
2. Funding the company's working capital requirements of approximately ₹89.50 crore.
3. General corporate purposes.
BLS Polymers IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹255.00 Cr |
| Offer for Sale | Nil |
| Fresh Issue | ₹255.00 Cr |
BLS Polymers IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 100 | 15000 |
| Retail (Max) | 13 | 1300 | 195000 |
| S-HNI (Min) | 14 | 1400 | 210000 |
| S-HNI (Max) | 66 | 6600 | 990000 |
| HNI (Min) | 67 | 6700 | 1005000 |
| Particulars (₹ Cr) | FY24 | FY25 | FY26 |
| Revenue | 296.36 | 328.44 | 349.43 |
| EBITDA | 21.05 | 39.66 | 46.60 |
| PAT | 7.52 | 21.14 | 27.01 |
| Particulars (₹ Cr) | FY24 | FY25 | FY26 |
| Total Assets | 168.49 | 179.14 | 206.13 |
| Share Capital | 9.60 | 9.60 | 45.03 |
| Total Liabilities (excluding equity) | 121.66 | 111.20 | 111.20 |
| Total liabilities are calculated as total assets less reported net worth. Figures are rounded to two decimal places. | |||
| Particulars (₹ Cr) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (Used In) Operating Activities | 2.68 | 24.85 | — |
| Net Cash Generated From / (Used In) Investing Activities | -0.75 | 0.86 | — |
| Net Cash Generated From / (Used In) Financing Activities | -2.24 | -25.72 | — |
| Net Increase / (Decrease) in Cash and Cash Equivalents | -0.31 | -0.01 | — |
Strengths
1. Custom-formulated polymer compounds serve multiple infrastructure-related industries.
2. Long-standing customer relationships support repeat business across domestic markets.
3. In-house product development capabilities enable specialised polymer formulations.
4. Established domestic distribution and export presence provide geographical market access.
Weaknesses
1. Wire and cable compounds accounted for 80.93% of FY26 revenue.
2. The top ten customers contributed 66.81% of FY26 revenue.
3. Manufacturing operations are concentrated at a single facility in Goa.
4. Working capital requirements and capacity expansion increase funding needs.
Opportunities
1. Power transmission and distribution investments could support demand for cable compounds.
2. Telecommunications infrastructure expansion may increase requirements for specialised insulation materials.
3. Proposed manufacturing capacity additions could help address higher product demand.
4. Development of new polymer grades and export markets may broaden the company's customer base.
Threats
1. Volatility in polymer resin and other raw material prices could affect margins.
2. Competition from established polymer compound manufacturers may create pricing pressure.
3. Delays or cost overruns in the proposed expansion could affect business plans.
4. Reduced infrastructure spending or slower industrial activity could weaken end-market demand.
1. The company has more than three decades of experience in manufacturing polymer compounds.
2. Its products serve established infrastructure applications across power, telecommunications and pipelines.
3. FY26 revenue and profitability improved compared with the previous financial year.
4. Planned manufacturing expansion and product development could support additional market opportunities.
India's polymer compounding industry supplies specialised materials for applications across power, telecommunications, construction and industrial infrastructure. According to the CRISIL industry report referenced in the prospectus, the domestic market was estimated at approximately USD 9934 million in 2025 and is projected to reach USD 16507 million by 2031, representing an expected CAGR of around 9.0% during 2026–2031. Expansion in power networks, renewable energy integration, telecom infrastructure and pipeline projects could support demand for specialised compounds. BLS Polymers intends to increase manufacturing capacity at its Goa facility and widen its product portfolio. However, raw material costs, customer concentration and execution of planned investments remain important considerations for its growth outlook.
- Companies
- Type
- Opening On
-
M. K. Sons Fine Jewels
- Mainboard
- 28th Oct
- Pre-Book
-
Bombay Coated and Special Steels
- Mainboard
- 29th Oct
- Pre-Book
-
Wiscon Industries
- SME
-
27th Oct
- Pre-Book
-
SFC Environmental Technologies
- Mainboard
-
27th Oct
- Pre-Book
Open Free Demat Account
Be a part of 5paisa community - The first listed discount broker of India.
By proceeding, you agree to all T&C*
FAQs
BLS Polymers IPO opens for subscription on October 27 2026 and closes on October 29 2026.
The BLS Polymers IPO has an issue size of approximately ₹255.00 crore at the upper price band. It consists entirely of a fresh issue of up to 17000000 equity shares.
The price band of BLS Polymers IPO is fixed at ₹142 to ₹150 per equity share.
To apply for BLS Polymers IPO, follow the steps given below:
1. Log in to your 5paisa demat account and select BLS Polymers IPO from the current IPO section.
2. Enter the number of lots and the price at which you wish to apply.
3. Enter your UPI ID and submit your application to place the bid with the exchange.
You will receive a UPI mandate notification to block the application amount in your bank account. Approve the mandate within the specified deadline to complete the application process.
The minimum application lot size is 100 shares. At the upper price band of ₹150 per share, the minimum retail application amount is ₹15000.
The basis of allotment for BLS Polymers IPO is expected to be finalised on October 30 2026, subject to the issue timetable.
BLS Polymers shares are tentatively scheduled to list on BSE and NSE on November 3 2026.
Unistone Capital Private Limited is the book-running lead manager for the BLS Polymers IPO. KFin Technologies Limited is the registrar to the issue.
BLS Polymers intends to use the net proceeds for manufacturing capacity expansion at its Goa facility, funding working capital requirements and general corporate purposes. The company has earmarked approximately ₹77.56 crore for expansion and ₹89.50 crore for working capital.