The BLS Polymers IPO opens on 27 October and closes on 29 October. The Goa-based maker of polymer compounds for wires and cables has set the price band at ₹142 to ₹150 a share. The issue is ₹255 crore, all of it fresh shares.
BLS Polymers IPO key dates
| Item | Detail |
|---|---|
| Price band | ₹142 to ₹150 a share |
| Issue size | ₹255 crore, fresh issue of 1.7 crore shares |
| Value of the company at the upper band | ₹930.5 crore |
| Anchor book | 26 October |
| Opens and closes | 27 October to 29 October |
| Allotment | 30 October |
| Listing | 3 November, BSE and NSE |
Unistone Capital is the merchant banker. BLS Polymers filed its draft papers with SEBI in August 2025 and the regulator cleared the issue in December 2025.
Where will the money go?
Because every share is new, the money goes to the company and not to selling shareholders. The company plans to use ₹77.56 crore of the net proceeds to expand its Goa plant. Another ₹89.5 crore is for working capital. The rest is for general corporate purposes.
The Goa plant makes all of the company's products on 11 production machines. Capacity for polyethylene and cross-linked polyethylene compounds is nearly full. The expansion would add 52,050 tonnes a year and take total capacity to 87,301 tonnes a year.
What does the company make?
BLS Polymers makes custom polymer compounds. Cable makers use them as the outer sheath and insulation on wires for power, telecom and railways. Pipeline operators use them to coat underground oil, gas and water pipes against corrosion. Wire and cable was 81% of FY26 revenue. Industrial pipelines made up the other 19%.
How are the financials?
| Period | Revenue | Net profit |
|---|---|---|
| FY25 | ₹328.4 crore | ₹21.1 crore |
| FY26 | ₹349.4 crore | ₹27 crore |
| April to June 2026 | ₹107.02 crore | ₹10.2 crore |
Revenue grew 6.4% in FY26 while profit rose 27.8%. At the upper band, the ₹930.5 crore valuation is about 34 times FY26 profit. That is our own arithmetic, not a figure from the offer document.
What our data shows
At ₹255 crore, this is the 79th largest of 105 mainboard IPOs this year. Our tracker shows a grey market premium of ₹20 on 19 October, or 13.33% over the upper band. That is an unofficial dealer quote, not an exchange price. On the last 10 mainboard listings, the final GMP was off by 11 percentage points on average. It overstated the listing gain five times and understated it five times. Of the 100 mainboard IPOs listed in 2026, 66 opened above their issue price, and the median listing gain is 6.92%.
What happens next
The anchor book opens on 26 October, a day before the public issue. Allotment is expected on 30 October and shares list on 3 November. Follow the GMP on our BLS Polymers GMP page, and see the full details on the BLS Polymers IPO page. For how recent issues have fared after listing, see our IPO performance table.
