New Delhi-based polymer compounds maker BLS Polymers is planning to tap capital markets to raise funds via initial public offering (IPO) for its capacity expansion, and working capital requirements. It has filed draft papers with the SEBI for its IPO on August 6.
The IPO will consist of solely fresh issue of 1.7 crore shares.
Polymer compounds are used as a raw material for sheathing, jacketing and insulation of wires and cables used in power, telecommunication and railway industries as well as coating of underground oil, gas and water pipelines, to provide a protective infrastructure from corrosion and external environmental factors.
The wire and cables division contributed the most to its revenue at 81.6 percent of topline, and the remainder 18.4 percent of business accounted by industrial pipeline segment.
The company that competes with listed entities like Kingfa Science & Technology, DDev Plastiks Industries, and Plastiblends India has reported profit at Rs 21.1 crore in the fiscal 2025, increasing sharply by 181 percent over the previous financial year, and revenue at Rs 328.4 crore, up by 10.8 percent in the same period.
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Incorporated in 1971, BLS Polymers intends to utilise Rs 69.8 crore of the IPO funds for expansion of its existing manufacturing facility at Goa, and Rs 75 crore for working capital requirements.
Unistone Capital is appointed as the book running lead manager for the BLS Polymers IPO.
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