BLS Polymers Limited, a manufacturer of various grades of custom formulated polymer compounds, has announced that the company's IPO will open on October 27, closing on October 29. The company through fresh issue of equity shares of Rs. 255 crore will be collected. The issue price band per share is Rs. 142 to 150 has been fixed and a minimum of 100 equity shares and thereafter in multiples of 100 shares has to be bid, wherein the base price per equity share is Rs. is 10. Unistone Capital Private Limited is the Book Running Lead Manager of the Issue and Caffeine Technologies Limited is the Registrar. The company will utilize this fund for expansion and working capital. The rest of the funds will be spent on corporate purposes. Headquartered in New Delhi, the company manufactures various grades of custom formulated polymer compounds serving various important industries such as telecommunication, power, railway, water, oil and gas distribution. In addition to its operations in 23 states and union territories in India, BLS Polymers has established its presence in the international market by exporting to 13 countries including Saudi Arabia, Bangladesh, Egypt, UAE, USA, Turkey, Oman, Zambia, Germany, Qatar, Romania, China and Poland.
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