BLS Polymers Limited

BLS Polymers (NEW IPO): GMP, Profit, Price & expert review

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BLS Polymers Limited is engaged in manufacturing customized polymer compounds used for insulation and protection of wires, cables, and underground pipelines across industries such as power, telecommunications, railways, water, and oil & gas. Its products are widely used in infrastructure and utility sectors for sheathing, jacketing, and corrosion-resistant coating applications.

BLS Polymers Limited was incorporated in 1991 & currently Mr. Karan Aggarwal serves as the Managing Director of the company.

It manufactures customized polymer compounds such as PE, PVC, XLPE, HFFR and cable-filling compounds. These materials are mainly used in power cables, telecom cables, optical fiber, pipelines and infrastructure industries for insulation, jacketing and corrosion protection.

BLS Polymer Limited has filed its DRHP with SEBI proposing an IPO consisting entirely as a Fresh issue of 1,79,00,000 Equity Shares.

Subscription date to apply for BLS Polymers Limited is yet to be announced. Price band for the IPO is yet to be declared.

Check DRHP
Check IPO Allotment
Visit OfficialWebsite
Issue Size:1,70,00,000 Equity Shares
Fresh Issue:1,70,00,000 Equity Shares
Offer for Sale:NA
Price Range:TBA
Lot Size:TBA
GMPPending

BLS Polymers Limited important data points

Revenue, PAT, EBITDA

YearFiscal 2025
Networth₹ 67.94Cr
Revenue:₹ 328.43 Cr
EBITDA₹ 39.66 Cr
EBITDA Margin:~ 12.08%
PAT₹ 21.13 Cr
PAT Margin~ 6.44%
Face Value:₹ 10

IPO important dates

Open Date:TBA
Close Date:TBA
Anchor Investor BiddingTBA
Allotment Date:TBA
Refunds & Demat CreditTBA
Tentative Listing Date:TBA

Use of Proceeds

PurposeAmount
Manufacturing Expansion~ ₹ 69.84 Cr
Working Capital Requirement~ ₹ 75 Cr
Sales and Marketing~ ₹ 00 Cr
General Corporate Purpose ₹ 00 Cr

BLS Polymers Limited Financial Data

202320242025
Revenue (₹ Cr)₹ 314.61₹ 296.35₹ 328.43
PAT (₹ Cr)₹ 6.24₹ 7.52₹ 21.13
Asset (₹ Cr)₹ 161.26₹ 168.48₹ 179.14
Net Worth (₹ Cr)₹ 39.25₹ 46.82₹ 67.94

BLS Polymers IPO Grey Market Premium

DateIPO PriceIPO GMPProfit per lot
27-Apr₹ –₹ –₹ –
26-Apr₹ –₹ –₹ –
25-Apr₹ –₹ –₹ –
24-Apr₹ –₹ –₹ –
23-Apr₹ –₹ –₹ –
BLS Polymers Limited

BLS Polymers Limited IPO Pros & Cons

Strengths:

  • Operates in high-growth cable & infrastructure polymer segment linked to power and telecom expansion.
  • Over 30+ years operating history, giving strong industry experience.
  • Diversified product portfolio with compounds like PE, PVC, XLPE, HFFR.
  • Demand supported by government infrastructure, telecom and renewable energy projects.
  • B2B industrial client base across multiple sectors reduces dependence on a single industry.

Risks:

  • Highly dependent on raw material prices (petrochemical polymers).
  • Business is cyclical and linked to infrastructure and cable industry demand.
  • Competition from large polymer compound manufacturers in India.
  • Limited public financial track record compared to established listed peers.
  • Revenue concentration may exist with few large cable manufacturers as key customers.

BLS Polymers Limited
Promoters – Pre offer equity (Approx)

Promoters%Shares
Vinod Aggarwal~ 16.16 %
Diwakar Aggarwal~ 16.07 %
Sushil Aggarwal~ 14.19 %
Madhukar Aggarwal~ 10.28 %
Karan Aggarwal~ 9.95 %
––

BLS Polymers LimitedPromoters – Pre offer equity (Approx)

Application TypeLot SizeNo. of LotNo. of SharesInvestment Amount
Retail (Min)–1–₹ –
Retail (Max)–13–₹ –
HNI (Min)–14–₹ –
HNI (Max)–66–₹ –
Big HNI (Min)–67–₹ –

Lead Managers / Registrars of BLS Polymers Limited

Lead / Book Running Lead ManagersUnistone Capital Private Limited
Registrar (RTA)KFin Technologies Limited

FAQ’S of BLS Polymers Limited

  • It manufactures customised polymer compounds used in wires, cables and pipelines for industries like telecom, power, railways, water and oil & gas infrastructure.

  • BLS Polymers is raising funds via IPO to fund expansion of its manufacturing facility, meet working capital needs and support general corporate purposes to strengthen future growth.

  • The issue size of the IPO comprises entirely as a Fresh Issue of up to ~1.7 crore equity shares and no offer-for-sale component. It will be listed on BSE and NSE platform.

  • Key risks include dependence on infrastructure demand, fluctuations in polymer raw material prices and competition from established polymer compound manufacturers.

  • Upsides include growth in power, telecom and infrastructure sectors, rising demand for advanced polymer materials and capacity expansion could support the company’s future revenue growth.

  • Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

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