BLS Polymers IPO
BLS Polymers IPO is an upcoming Mainboard book-built issue of ₹255 crore, with a price band of ₹142 to ₹150 per share and a lot size of 100 shares. The IPO is scheduled to open on October 27, 2026, and close on October 29, 2026. The shares are proposed to
BLS Polymers IPO Details
BLS Polymers IPO is scheduled to open for subscription on October 27, 2026, and close on October 29, 2026. The basis of allotment is expected to be finalised on October 30, 2026. The shares are tentatively scheduled to list on BSE and NSE on November 3, 2026.
BLS Polymers IPO Timeline (Tentative)
BLS Polymers IPO is scheduled to open for public subscription on October 27, 2026, and close on October 29, 2026. The basis of allotment is expected to be finalised on October 30, 2026. Refund initiation and credit of shares to successful applicants' Demat accounts are tentatively expected on November 2, 2026. The shares are scheduled for listing on BSE and NSE on November 3, 2026. These dates should be confirmed against the final IPO timetable.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Tue, Oct 27, 2026 |
| IPO Close Date | Thu, Oct 29, 2026 |
| Basis of Allotment | Fri, Oct 30, 2026 |
| Initiation of Refunds | Mon, Nov 2, 2026 |
| Credit of Shares to Demat | Mon, Nov 2, 2026 |
| Listing Date | Tue, Nov 3, 2026 |
| Anchor Investor Bidding | October 26, 2026 |
BLS Polymers IPO Lot Size
The BLS Polymers IPO lot size is 100 shares. At the upper price band of ₹150 per share, a retail investor needs ₹15,000 to apply for one lot. The maximum retail application limit and the applicable Small HNI and Big HNI lot thresholds should be confirmed against the final IPO application details.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 100 | 15,000 |
| Retail (Max) | Yet to be Updated | Yet to be Updated | Yet to be Updated |
| S-HNI (Min) | Yet to be Updated | Yet to be Updated | Yet to be Updated |
| S-HNI (Max) | Yet to be Updated | Yet to be Updated | Yet to be Updated |
| B-HNI (Min) | Yet to be Updated | Yet to be Updated | Yet to be Updated |
BLS Polymers IPO Reservation
BLS Polymers IPO is proposed to be a ₹255 crore public issue. The final category-wise allocation among Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs), along with the exact fresh issue and offer-for-sale components, should be updated after verification against the final offer documents.
BLS Polymers IPO Subscription
BLS Polymers IPO subscription status will be available after bidding opens on October 27, 2026. Investors can track demand from Qualified Institutional Buyers, Non-Institutional Investors and Retail Individual Investors during the subscription period. Final subscription figures will be updated after the issue closes on October 29, 2026.
| Category | Subscription (times) |
|---|---|
| QIB | |
| NII | |
| RII | |
| Total |
About BLS Polymers
BLS Polymers Limited is a manufacturer of custom-formulated polymer compounds used in critical infrastructure industries. Its products serve applications across telecommunications, power transmission, railways, water infrastructure, and oil and gas transmission. The company focuses on supplying polymer solutions designed to meet the performance and technical requirements of industrial customers.
The company's product portfolio includes high-density polyethylene (HDPE), medium-density polyethylene (MDPE), linear low-density polyethylene (LLDPE), cross-linked polyethylene (XLPE), halogen-free flame-retardant (HFFR) compounds, polyvinyl chloride (PVC), cable-filling compounds and adhesive-coating compounds. These products support cable manufacturing and other infrastructure-related applications where insulation, durability and material performance are important.
BLS Polymers serves customers across India and also exports its products to international markets, including Bangladesh, Egypt, Oman, Saudi Arabia, Turkey, the United Arab Emirates, the United States and Zambia. Its manufacturing facility is located in Goa. The company reported a presence across 24 states and union territories and served both repeat and new customers during FY2025.
Strengths
- Established manufacturing presence in specialised polymer compounds used in infrastructure and industrial applications.
- Diverse product portfolio serving telecommunications, power, railways, water and oil and gas transmission industries.
- Domestic distribution network with customers across multiple Indian states and union territories.
- Export presence in several international markets.
- Improved profitability in FY2025 compared with FY2024.
Risks to Consider
- Revenue may be affected by changes in raw-material prices and the ability to pass cost increases on to customers.
- The business operates in a competitive polymer and cable-compound manufacturing industry.
- Demand is linked to infrastructure investment and activity in customer industries.
- A significant portion of revenue comes from domestic operations, exposing the business to Indian market conditions.
- Expansion plans involve execution, capacity-utilisation and working-capital risks.
BLS Polymers Financials (₹ Cr)
BLS Polymers reported revenue from operations of ₹316.78 crore in FY2023, which declined to ₹301.50 crore in FY2024 before increasing to ₹336.70 crore in FY2025. Profit after tax improved from ₹6.25 crore in FY2023 to ₹7.52 crore in FY2024 and ₹21.14 crore in FY2025. Total assets increased from ₹161.26 crore in FY2023 to ₹179.14 crore in FY2025. Net worth also improved during the period, reaching ₹67.94 crore in FY2025.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2023 | 316.78 | 6.25 | 161.26 | 39.26 |
| FY2024 | 301.50 | 7.52 | 168.49 | 46.83 |
| FY2025 | 336.70 | 21.14 | 179.14 | 67.94 |
KPIs & Valuation
BLS Polymers' FY2025 financial results show higher revenue and profit compared with FY2024. The company reported FY2025 net worth of ₹67.94 crore and profit after tax of ₹21.14 crore. The final IPO valuation should be assessed using the confirmed issue price, post-issue equity capital, earnings per share and other financial information disclosed in the final offer documents.
Objects of the Issue
BLS Polymers proposes to use the proceeds of its IPO primarily to expand its manufacturing capacity, meet working-capital requirements and fund general corporate purposes. The expansion is intended to increase the production capacity of certain existing products and support the company's future business requirements. The company proposes to utilise the IPO proceeds for:
- Financing capital expenditure for expanding the manufacturing facility and increasing the manufacturing capacity of selected existing products.
- Funding the working-capital requirements of the company.
- General corporate purposes.
Promoters, Lead Managers & Registrar
BLS Polymers Limited is promoted by Vinod Aggarwal, Sushil Aggarwal, Madhukar Aggarwal, Diwakar Aggarwal and Karan Aggarwal. The company's IPO registrar is KFin Technologies Limited, while Unicon Capital Services Private Limited is identified as the book-running lead manager for the issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | KFin Technologies Limited |
|---|---|
| Phone | 040-79615565 |
| blsploymers.ipo@kfintech.com | |
| Website | https://ipostatus.kfintech.com/ |
BLS Polymers IPO Review
BLS Polymers operates in the specialised polymer-compound manufacturing industry, supplying products used in infrastructure-related applications. Its diversified product portfolio and presence across domestic and export markets provide exposure to multiple customer industries, including telecommunications, power, railways, water and oil and gas transmission.
The company's financial performance improved in FY2025. Revenue increased from ₹301.50 crore in FY2024 to ₹336.70 crore in FY2025, while profit after tax rose from ₹7.52 crore to ₹21.14 crore. The improvement in profitability is a positive development, although investors should examine whether the higher earnings can be sustained as the company expands its manufacturing operations.
The proposed use of IPO proceeds for manufacturing expansion and working capital may support future growth. However, the investment decision should also consider raw-material price fluctuations, competitive pressure, customer demand, working-capital requirements and the company's ability to utilise additional manufacturing capacity effectively. Investors should review the final offer documents, valuation, risk factors and issue structure before making a decision. The IPO review should be updated with the final price-to-earnings ratio and other valuation metrics once the required figures are verified.
How to Apply
Investors can apply for BLS Polymers IPO through the ASBA facility offered by participating banks or through a supported stockbroker application using UPI. The IPO is scheduled to open on October 27, 2026, and close on October 29, 2026. The minimum application is one lot of 100 shares, requiring ₹15,000 at the upper price band of ₹150 per share.
Through UPI
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Log in to your stockbroker's app or website.
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Open the IPO section.
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Select BLS Polymers IPO.
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Enter the number of lots you want to apply for.
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Select the bid price. Retail investors can generally choose the cut-off option when available.
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Enter your valid UPI ID.
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Submit the IPO application.
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Open your UPI application when the mandate request arrives.
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Approve the mandate using your UPI PIN before the specified deadline.
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The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Prospectus & Documents
Investors should refer to the Draft Red Herring Prospectus (DRHP), Red Herring Prospectus (RHP) and final Prospectus for detailed information about BLS Polymers' business, financial performance, risk factors, IPO structure and proposed utilisation of the issue proceeds. The final offer documents should be consulted for confirmed issue dates, allocation details and valuation information.
Last updated Oct 19, 2026.