BLS Polymers IPO opens Oct 27: Check price band, lot size and key dates

Specialised polymer compounds manufacturer BLS Polymers' ₹255 crore initial public offering will hit the primary market on October 27. The issue, which has set a price band of ₹142 to ₹150 per share, will conclude on October 29.

The initial share sale is exclusively a fresh issuance of 1.70 crore shares, with no offer for sale (OFS) component.

The money generated will be used to finance capital expenditure requirements towards expansion of existing manufacturing facility, working capital needs and general corporate purposes.

"Our company expects to receive the benefits of listing of the equity shares on the Stock Exchanges and enhancement of our company's brand name amongst our existing and potential customers and creation of a public market for our equity shares in India," the firm said in its red herring prospectus.

BLS Polymers IPO: Lot size

A lot consists of 100 shares and is in multiples thereafter. The company has reserved half of the net offer for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

BLS Polymers IPO: Allotment and listing date

BLS Polymers makes multiple grades of custom-formulated polymer compounds, serving to diversified critical industries such as telecommunication, railways, water, power, oil and gas distribution, among others. As per the CRISIL Report, polymer compounds are used as a key raw material for sheathing, jacketing and insulation of wires and cables.

Its product portfolio diversified to offer varied solutions in the wire and cables and infrastructure industry and included products like high-density polyethylene compounds, medium-density polyethylene compounds and linear low-density polyethylene compounds, polyvinyl chloride compounds, cable filling compounds, cross-linked polyethylene compounds, halogen-free flame retardant compounds, and adhesive coating compounds.