Low vulnerability ammunition (LOVA) propellant are currently being developed globally to replace all types of single-base, double-base and triple-base gun propellants, because LOVA propellants possess advantage like low vulnerability without compromising on ballistic properties. The objective of present study is to establish processing of thermoplastic elastomer (TPE); estane-based LOVA gun propellant in cord/heptatubular geometry. Keeping in view various advantages of TPE such as simple processing, greater dimensional stability, lower production losses, superior insensitivity, and mechanical properties of the propellants, estane 5731 (polyurethane-ester-MDI, aromatic polyester) is selected for feasibility study as a binder in LOVA-based gun propellant composition, processed by solvent and semi-solvent methods and compared feasibility of processing as well as their evaluation wrt ballistics, vulnerability, and mechanical properties. The results indicate that gun propellants processed by semi-solvent method and extruded at elevated temperatures exhibit better ballistics, mechanical, and vulnerability properties.