BLS Polymers Files DRHP with SEBI for IPO

BLS Polymers Limited, a manufacturer of multiple grades of custom formulated polymer compounds, catering to diversified critical industries such as telecommunication, power, railways, water, oil and gas distribution, among others has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”). 

The Company plans to raise funds through offer of equity share capital via initial public offering. The Public Offer comprises of fresh issue of up to 1,70,00,000 equity shares with face value Rs.10 each share.

BLS Polymers Limited is engaged in the manufacturing of multiple grades of polymer compounds. Polymer compounds are used as an essential 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, in order to provide a protective infrastructure from corrosion and external environmental factors. (Source: CRISIL Report). Company’s products play a vital role in high-performance applications across critical industries, including oil, gas, and water, among others.

Unistone Capital Private Limited is the sole Book Running Lead Managers (BRLMs) to the issue.