BLS Polymers, a Delhi-based polymer compound manufacturer, has filed draft papers with SEBI to raise capital through an initial public offering (IPO). The company submitted its Draft Red Herring Prospectus on August 6, 2025.
The proposed IPO will consist entirely of a fresh issue of 1.7 crore equity shares. There is no offer-for-sale component in the issue. Unistone Capital has been appointed as the book-running lead manager for the IPO.
Out of the total proceeds, ₹69.84 crore will be allocated to expanding the company’s existing manufacturing facility in Goa. Another ₹75 crore is proposed to be used for working capital requirements. The remaining funds will go toward general corporate purposes.
In FY25, BLS Polymers reported a profit of ₹21.1 crore, up 181% from the previous year. Revenue for the same period stood at ₹328.4 crore, reflecting a year-on-year increase of 10.8%.
The wire and cable segment accounts for 81.6% of the company’s revenue. The remaining 18.4% comes from the industrial pipeline segment. The company serves clients across the infrastructure and utility sectors.
According to a CRISIL report, India’s polymer compounding market grew from $5,967 million in 2019 to $8,330 million in 2023. It is expected to grow at a CAGR of 8.2% and reach $13,415 million by 2029.
Established in 1971, BLS Polymers produces polymer compounds used for wire and cable sheathing, jacketing, and insulation. These compounds are also applied in coating underground pipelines used in power, telecom, railways, and oil and gas.
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The company plans to use the IPO proceeds to support its capacity expansion and meet operational requirements as it prepares for its public market debut.
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Published on: Aug 8, 2025, 2:19 PM IST
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