BLS Polymers IPO ends with 241.22 times subscription
BLS Polymers received bids for 2,87,05,58,600 shares as against 1,19,00,000 shares on offer. The issue was subscribed 241.22 times.
The qualified institutional buyers' (QIB) portion was subscribed 200.25 times, while the non-institutional investors' (NII) category was subscribed 559.20 times. The retail individual investors' (RII) segment was subscribed 128.36 times.
The issue opened for bidding on 27 October 2026 and closed on 29 October 2026. The price band of the IPO was fixed between Rs 142 and Rs 150 per share.
The IPO comprised entirely a fresh issue of 1,70,00,000 equity shares of face value Rs 10 each, aggregating up to Rs 255 crore at the upper price band, with no offer for sale (OFS) component.
Of the net proceeds, the company intends to utilise Rs 77.56 crore towards financing capital expenditure for the expansion of its existing manufacturing facility in Goa, Rs 89.50 crore towards funding working capital requirements and the balance for general corporate purposes.
The promoters are Vinod Aggarwal, Sushil Aggarwal, Madhukar Aggarwal, Diwakar Aggarwal and Karan Aggarwal. The promoters and promoter group hold 98.53% of the pre-offer equity share capital. Their post-IPO shareholding is expected to be around 71.53%.
BLS Polymers, part of the BLS Group, manufactures custom-formulated polymer compounds used in the sheathing, jacketing and insulation of wires and cables, as well as coating of underground oil, gas and water pipelines. Its product portfolio includes HDPE, MDPE, LLDPE, XLPE, HFFR, PVC, cable filling compounds and adhesive coating compounds. The company operates a manufacturing facility in Goa and serves more than 190 customers across the power, telecommunications, railways and infrastructure industries. It also exports its products to international markets, including Saudi Arabia, Bangladesh, Egypt, the UAE and the US.
Ahead of the IPO, BLS Polymers on Monday, 26 October 2026, raised Rs 76.50 crore from anchor investors. The company allotted 51 lakh equity shares at Rs 150 each.
The company reported a consolidated net profit of Rs 27.01 crore and sales of Rs 349.43 crore for the twelve months ended 31 March 2026.
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