BLS Polymers IPO
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BLS Polymers IPO details
Schedule of BLS Polymers
| Issue open date | 27 Oct 2026 |
| Issue close date | 29 Oct 2026 |
| UPI mandate deadline | 29 Oct 2026 (5 PM) |
| Allotment finalization | 30 Oct 2026 |
| Refund initiation | 02 Nov 2026 |
| Share credit | 02 Nov 2026 |
| Listing date | 03 Nov 2026 |
| Mandate end date | 13 Nov 2026 |
| Lock-in end date for anchor investors (50%) | 28 Nov 2026 |
| Lock-in end date for anchor investors (remaining) | 27 Jan 2027 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About BLS Polymers
BLS Polymers manufactures custom-formulated polymer compounds utilized for sheathing, jacketing, and insulation of wires and cables across the telecommunications, power, and railway industries, alongside protective coatings for underground oil, gas, and water pipelines. The company generates revenue through core manufacturing operations and trading activities involving primary raw materials. Its principal product portfolio encompasses various grades of wire and cable compounds, high-density polyethylene, linear low-density polyethylene resins, polyethylene pipe coatings, and adhesives for three-layer polyethylene applications. Operating from a single manufacturing facility located in Goa, BLS Polymers caters to domestic clients while also exporting to international markets, including Saudi Arabia and Bangladesh. The company’s products are enlisted with prominent government agencies, public sector enterprises, and the Government of Gujarat, serving critical infrastructure sectors and addressing specific, precise requirements in terms of high quality, composition, and tolerances.
Financials of BLS Polymers
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 255 |
| Fresh Issue – Proceeds go to the company | 255 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Financing capital expenditure for expanding manufacturing facility capacity | 77.56 (30.42%) |
| Funding working capital requirements | 89.5 (35.10%) |
| General corporate purposes | 87.94 (34.48%) |
Strengths
- Approved supplier for major government agencies and CPSEs.
- Diverse products for telecom, power, railway, oil, and gas.
- High repeat order rate from an established customer base.
- In-house product development and testing labs ensure quality.
- Growing presence in specialized 3LPE pipeline adhesives.
Risks
- Heavily dependent on wire and cable compound sales.
- Top 10 customers drive a major share of total revenue.
- Highly exposed to operational risks at its single Goa plant.
- Lacks long-term supply contracts for primary raw materials.
- High working capital needs tied up in trade receivables.