BLS Polymers IPO: dates, price band, lot size and GMP
BLS Polymers IPO opens Dates awaited on the Mainboard, price band ₹142 – ₹150, lot size awaited, no GMP reported yet. Allotment date awaited, listing date awaited.
Updated 19 Oct 2026, 10:00 IST. Dated dealer references.
BuyUnlistedShares tracks 209 IPOs on its calendar; the BLS Polymers IPO has a price band of ₹142 – ₹150, a lot of — shares and no grey-market premium reported yet as of 19 Oct 2026.
Key details
| Board | Mainboard |
|---|---|
| Issue dates | Dates awaited |
| Price band | ₹142 – ₹150 |
| Fresh issue | ₹255 Cr |
| Subscription | — |
| Registrar | Kfin Technologies Ltd. |
| Lead managers | Unicon Capital Services Pvt.Ltd. |
| Status | Upcoming |
Timeline
- Refunds: 2 Nov
- Demat credit: 2 Nov
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE, BSE |
| Market cap at the upper band | ₹930.48 Cr |
| P/E (post-issue) | 43.99x |
| Fresh issue (shares) | 1,70,00,000 |
| Total shares offered | 1,70,00,000 |
| Promoter holding pre-issue | 98.53% |
| Promoter holding post-issue | 71.53% |
| Promoters | Vinod Aggarwal, Sushil Aggarwal, Madhukar Aggarwal, Diwakar Aggarwal and Karan Aggarwal |
| Lead managers | Unicon Capital Services Pvt.Ltd. |
| Registrar phone | 040-79615565 |
| Registrar email | blsploymers.ipo@kfintech.com |
| Company website | blspolymers.com |
| Anchor bid date | 26 Oct 2026 |
| Anchor lock-in ends (50%) | 29 Nov 2026 |
| Anchor lock-in ends (remaining) | 28 Jan 2027 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | — | 100 | ₹15,000 |
| Retail (maximum) | — | 1,400 | ₹2,10,000 |
| sNII (minimum) | — | 1,400 | ₹2,10,000 |
| bNII (minimum) | — | 6,700 | ₹10,05,000 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| QIB | — | — | Not more than 50% of the Issue |
| NII (HNI) | — | — | Not less than 15% of the Issue |
| Retail | — | — | Not less than 35% of the Issue |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹4.69 |
|---|---|
| EPS (post-issue) | ₹3.41 |
| P/E (post-issue) | 43.99x |
| RoNW | 28.45% |
| RoCE | 29.51% |
| RoE | 33.17% |
| PAT margin | 7.73% |
| EBITDA margin | 13.33% |
| Price / book | 7.12x |
| NAV per share | ₹21.08 |
| Debt / equity | 0.56 |
| Market cap (upper band) | ₹930.48 Cr |
Financials (₹ Cr)
| Metric | FY25 | FY24 | FY23 | FY25 vs FY24 |
|---|---|---|---|---|
| Assets | 179.14 | 168.49 | 161.26 | +6.3% |
| Total Income | 336.7 | 301.5 | 316.78 | +11.7% |
| Profit After Tax | 21.14 | 7.52 | 6.25 | +181.1% |
| EBITDA | 39.66 | 21.05 | 17.92 | +88.4% |
| NET Worth | 67.94 | 46.83 | 39.26 | +45.1% |
| Reserves and Surplus | 58.29 | 37.16 | 29.64 | +56.9% |
| Total Borrowing | 73.92 | 93.77 | 89.6 | −21.2% |
About BLS Polymers
BLS Polymers is a leading manufacturer of custom-formulated polymer compounds catering to critical infrastructure sectors such as telecommunications, power, railways, water, and oil & gas distribution.
Product offerings: Its diverse 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 (CFC), and adhesive coating compounds.
The company has established a strong PAN India presence across 24 states/union territories. In Fiscal 2025, it has served 113 repeat customers and 53 new customers.
Market Presence: It sells products domestically and overseas such as Bangladesh, Egypt, Oman, Saudi Arabia, Turkey, United Arab Emirates, United States of America and Zambia. In Fiscal 2025, it has derivedm 91.57% of revenue from domestic operations and remaining 8.43% from export operations.
Manufacturing Facility : Goa across 24,220 sq ft, equipped with advanced machineries.
Competititve Strengths
Objects of the issue
- Financing the capital expenditure requirement towards expansion of our Manufacturing Facility by increasing the manufacturing capacity of certain of our existing products — ₹69.84 Cr
- Funding working capital requirements of our Company — ₹75 Cr
- General Corporate Purpose
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | Financial statements |
|---|---|---|---|---|---|---|
| BLS Polymers Ltd. (issuer) | 5.99 | 5.99 | 21.08 | — | 28.45% | — |
| Kingfa Science & Technology (india) Ltd. | 144.1 | 144.1 | 1,155.4 | 46.25x | 13.24% | — |
| Ddev Plastiks Industries Ltd. | 19.5 | 19.5 | 97.93 | 12.97x | 19.92% | — |
| Plastiblends India Ltd. | 14.12 | 14.12 | 172.78 | 14.53x | 8.17% | — |
Source: All the financial information for listed industry peers mentioned above is on a Consolidated basis as available sourced from the financial Reports of the peer company uploaded on the NSE website for the year ended March 31, 2026. Notes: Basic and Diluted EPS for peers are sourced from the audited financial statements for the relevant year. P/E Ratio has been computed based on the closing market price of equity shares on the NSE website on October 12, 2026, divided by the Diluted EPS.
Strengths (per the offer document)
- Diversified industry applications with differentiated product portfolio — Our business model is diversified by a mix of products, end use industries and customer base.
- Long-standing relationships with our customers — We have, through our 3 decades of business operations, established long-standing relationships with several customers engaged in various industries.
- PAN-India market presence — We are a manufacturer of various grades of polymer compounds primarily used in manufacturing of wire and cables and coating of industrial pipelines.
- Integrated product development capabilities — We have invested in an in-house product development team for developing new polymer compositions to suit our customer needs and market demand.
Risk factors (as disclosed by the company)
- During the Fiscals 2025, 2024 and 2023, we derived 81.59%, 80.49% and 94.32% of our revenue from the sale of wire and cable polymer compounds — Polymer compounds are used as an essential raw material for sheathing, jacketing and insulation of wires and cables used in power, telecommunication and railway industries as well as coating of…
- Our business largely depends upon our top 10 customers which contributed 64.44%, 50.52% and 51.02% in the Fiscals 2025, 2024 and 2023 — We derive a significant portion of our revenue from our top 10 customers.
- We do not have firm commitment agreements with our customers — We do not enter into formal agreements or arrangements with our customers and typically rely on blanket purchase orders issued by our customers from time to time that set out the price per unit of…
- In order to sell our products to certain industries, we are required to enlist our products with government agencies — Our ability to sell certain products in specific sectors and geographies is dependent on obtaining and maintaining enlistments or approvals from government bodies, industry regulators, public sector…
- As of March 31, 2025, we derive 93.04% of our revenue from operations from repeat orders of our customers — We have historically been dependent, and expect to depend, on repeat orders, for a substantial portion of our revenue and the loss of any of them for any reason including due to loss of, or…
- We are subject to strict performance requirements, including, but not limited to, quality and delivery, by our customers — We are engaged in the business of manufacturing polymer compounds which are used for sheathing and jacketing of wires and cables and coating of underground pipelines.
- We highly depend on a few key suppliers who help us procure raw materials for manufacturing our products — We are engaged in the business of manufacturing polymer compounds which are coated on wires and cables as well as on underground pipelines to protect from corrosion and external environmental factors.
- Our Company is dependent on the demand from industries where our products find application — While our products are generally capable of being used in various application industries, a significant part of our revenue from the sale of our products is generated from wire and cables, as well…
From the RHP (strengths pages 221–227, risk factors pages 34–43). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF)
Track this issue
- BLS Polymers IPO GMP today and trend
- BLS Polymers IPO subscription status, day by day
- BLS Polymers IPO allotment status and how to check
Frequently asked questions
When does the BLS Polymers IPO open and close?
Dates have not been announced yet; this page updates daily from the filings.
What is the BLS Polymers IPO price band?
The price band is ₹142 – ₹150 per share.
How do I apply for the BLS Polymers IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), BLS Polymers · as filed with SEBI · nsearchives.nseindia.com
- Registrar allotment page, Kfin Technologies Ltd. · allotment date awaited · ipostatus.kfintech.com
- NSE public issues page · issue as announced · nseindia.com
- BSE public issues page · issue as announced · bseindia.com
- BLS Polymers company website · blspolymers.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 19 Oct, 03:00 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “BLS Polymers IPO”, https://buyunlistedshares.com/ipo/bls-polymers-ipo, as of 19 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP, in the market since 2002. Reviewed by the BuyUnlistedShares desk before publishing. Data as of 19 Oct 2026.
Guides for IPO applicants and pre-IPO holders
- The risks of buying unlisted and pre-IPO shares in India
- Unlisted Shares Lock-In Period: What Every Investor Must Know (2026)
- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
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