BLS Polymers on Monday said its Rs 255-crore initial public offering (IPO) will open for subscription on Oct. 27, with a price band of Rs 142-150 per share.
The IPO, comprising a fresh issue of 1.7 crore equity shares, will close on Oct. 29. The bidding for anchor investors will take place on October 26, the company said in a statement.
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At the upper end of the price band, the company is expected to raise Rs 255 crore through the public issue.
According to the red herring prospectus (RHP), the company plans to use Rs 77.56 crore from the issue proceeds to expand its manufacturing facility and increase the production capacity of certain existing products.
Additionally, Rs 89.5 crore will be spent to meet working capital requirements, and the remaining amount will be used for general corporate purposes.
BLS Polymers manufactures custom-formulated polymer compounds used in industries such as telecommunications, power, railways, water, and oil and gas distribution.
The company operates a manufacturing facility in Goa with an installed capacity of 35,251 metric tonnes per annum (MTPA).
It has operations across 23 states and Union Territories in India and exports to 13 countries, including the US, Germany, Saudi Arabia, the UAE and Bangladesh.
Established in 1991, BLS Polymers is part of the BLS Group, which has business interests across sectors, including textiles, education, polymers, visa and consular services, banking business correspondent services and e-governance.
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The company reported revenue from operations of Rs 349.43 crore and a profit after tax (PAT) of Rs 27.01 crore in FY26. In the June quarter of FY27, the company posted revenue of Rs 107.03 crore and a PAT of Rs 10.23 crore.
Unistone Capital is the book-running lead manager to the issue, while KFin Technologies Ltd is the registrar.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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