BLS Polymers IPO
Bookbuilding IPO | ₹255.00 Cr | Listing at BSE, NSE
Open
IPO Open
Tue, Oct 27, 2026
IPO Close
Thu, Oct 29, 2026
Price Band
₹142.00 to ₹150.00
Market Cap (Pre-IPO)
₹930.48 Cr
IPO Details
| IPO Date | Oct 27, 2026 to Oct 29, 2026 |
| Listing Date | Tentative: Nov 03, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹142.00 to ₹150.00 |
| Lot Size | 100 Shares (Minimum: ₹15,000.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹255.00 Crores |
| Total Shares Offered | 17,000,000 shares |
| Fresh Issue | 17,000,000 shares |
| Offer For Sale | 17,000,000 shares |
BLS Polymers IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Issue |
| Retail Shares Offered | Not less than 35% of the Issue |
| NII Shares Offered | Not less than 15% of the Issue |
BLS Polymers IPO Lot Size
Investors can bid for a minimum of 100 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹15,000 |
| Retail (Max) | 13 | 1,300 | ₹195,000 |
| S-HNI (Min) | 14 | 1,400 | ₹210,000 |
| S-HNI (Max) | 66 | 6,600 | ₹990,000 |
| B-HNI (Min) | 67 | 6,700 | ₹1,005,000 |
BLS Polymers Financial Information (Restated Consolidated)
BLS Polymers Ltd.'s revenue increased by 5% and profit after tax (PAT) rose by 28% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 231.34 | 206.13 | 179.14 | 168.49 |
| Total Income | 107.81 | 354.41 | 336.70 | 301.50 |
| Profit After Tax | 10.23 | 27.01 | 21.14 | 7.52 |
| EBITDA | 16.21 | 46.60 | 39.66 | 21.05 |
| NET Worth | 105.17 | 94.93 | 67.94 | 46.83 |
| Reserves and Surplus | 60.14 | 49.90 | 58.34 | 37.23 |
| Total Borrowing | 62.91 | 51.72 | 73.92 | 93.77 |
Amount in ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROE (Return on Equity) | 33.17% |
| ROCE (Return on Capital Employed) | 29.51% |
| Debt/Equity | 0.56 |
| RoNW (Return on Net Worth) | 28.45% |
| PAT Margin (Profit After Tax Margin) | 7.73% |
| EBITDA Margin | 13.33% |
| Price to Book Value | 7.12 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 6.00 | 6.60 |
| P/E (x) | 25.00 | 22.73 |
Company Overview
BLS Polymers Ltd. – Company Overview
- BLS Polymers Ltd. manufactures specialised polymer compounds used in wires, cables and underground pipelines, catering to industries including power, telecommunications, railways, water, and oil and gas.
- Product Portfolio: The Company's products include HDPE, MDPE, LLDPE, XLPE, PVC, HFFR, cable filling compounds and adhesive coating compounds.
- The Company operates a manufacturing facility in Goa, spread across approximately 24,220 sq. metres and equipped with 11 machines.
- The Company has an in-house laboratory, a dedicated quality control team and ISO 9001:2015 certification. It also develops customised products to meet specific customer requirements.
- BLS Polymers serves more than 190 customers and exports its products to countries including Bangladesh, Egypt, Saudi Arabia, the UAE, the USA and Zambia.
- The Company's proximity to Mormugao Port supports the import of raw materials and the export of
Company Strengths
- Government Approvals: Enlisted with prominent government agencies with a pre-approved product portfolio.
- Diversified Product Portfolio: Caters to multiple industries with specialised polymer compounds.
- Established Customer Relationships: More than 100 customers have been associated with the company for over three years.
- Wide Market Presence: Serves customers across India and international markets.
- Product Development Capabilities: Develops customised polymer compounds to meet specific industry and customer requirements.
Use of Proceeds
| 1) | Financing the capital expenditure requirement towards expansion of our Manufacturing Facility by increasing the manufacturing capacity of certain of the existing products | 77.56 |
| 2) | Funding working capital requirements of the Company | 89.50 |
| 3) | General Corporate Purposes | |
| Total | 167.06 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
BLS Polymers IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| BLS Polymers Limited | 5.99 | 5.99 | 21.08 | - | 28.45 | - | Consolidated |
| Kingfa Science & Technology (india) Ltd. | 144.10 | 144.10 | 1,155.40 | 46.25 | 13.24 | 3.66 | Consolidated |
| Ddev Plastiks Industries Ltd. | 19.50 | 19.50 | 97.93 | 12.97 | 19.92 | 1.95 | Consolidated |
| Plastiblends India Ltd. | 14.12 | 14.12 | 172.78 | 14.53 | 8.17 | 0.70 | Consolidated |
Quick Info
| Sector | plastics and polymer products |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹930.48 Cr |
Important Dates
| IPO Open | Oct 27, 2026 |
| IPO Close | Oct 29, 2026 |
| Allotment Date | Oct 30, 2026 |
| Credit to Demat | Nov 02, 2026 |
| Listing Date | Tentative: Nov 03, 2026 |
Lead Manager(s)
Unistone Capital Pvt.Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹255.00 crores.
- Issue Structure: The issue is entirely a fresh issue of 1.70 crore shares aggregating to ₹255.00 crores.
- IPO Dates: The issue opens for subscription on October 27, 2026 and closes on October 29, 2026.
- Allotment Date: The allotment is expected to be finalized on October 30, 2026.
- Listing Details: The shares are proposed to be listed on NSE and BSE on November 3, 2026.
- Retail Investment Requirement: Minimum 1 lot (100 shares) amounting to approximately ₹15,000 at the upper price band.
- Issue Price Band: ₹142 to ₹150 per equity share.
- Lot Size: 100 shares per lot.
This IPO offers investors an opportunity to participate in the company through an entirely fresh issue of shares.