New Delhi: Three firms—Hotel Polo Towers, Bombay Coated & Special Steels, and APPL Containers—have filed preliminary papers with markets regulator Sebi to raise funds through initial public offerings (IPOs).
Hotel Polo Towers’ proposed IPO includes a fresh issue of shares worth Rs 300 crore and an offer for sale (OFS) of 71.2 lakh shares by promoters. The hospitality chain may also consider a pre-IPO placement of Rs 60 crore; if completed, the fresh issue size will be reduced accordingly. The proceeds from the fresh issue will be utilized for multiple purposes, including part-financing the establishment, expansion, and upgrade of existing properties, meeting capital expenditure requirements, debt repayment, and general corporate purposes.
Hotel Polo Towers develops, owns, operates, and manages a chain of upscale and midscale hotels and resorts across northeast, east, and north India under the ‘Polo’ and ‘Max’ brands. As of August 2025, the company’s hospitality portfolio includes nine operational hotels and resorts in locations such as Agartala (Tripura), Kolkata (West Bengal), Cherrapunjee (Meghalaya), Shillong (Meghalaya), Prayagraj (Uttar Pradesh), Jabalpur (Madhya Pradesh), Tura (Meghalaya), and Neermahal (Tripura), with a total inventory of 425 keys. For FY25, its revenue from operations stood at Rs 118 crore, with a profit of Rs 22 crore.
Bombay Coated & Special Steels is making its maiden public offering entirely through a fresh issue of 1.5 crore shares, with no OFS component. The company is a leading steel processing centre, specializing in processing steel coils into various steel products. Its current installed capacity is 350,411 tonnes per annum. During FY25, it reported revenue from operations of Rs 1,056 crore and a net profit of Rs 28.6 crore.
Bhavnagar-based APPL Containers has proposed an IPO comprising a fresh issue of 12.5 lakh shares and an OFS of 25.60 lakh shares by promoters. Incorporated in 2021, APPL Containers is a manufacturing company focused primarily on container manufacturing. The company plans to use the proceeds from the fresh issue to fund working capital requirements, repay debt, and support general corporate purposes. It posted revenue from operations of Rs 69 crore and a net profit of Rs 33 crore during FY25.
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https://www.freepressjournal.in/business/hotel-polo-towers-bombay-coated-special-steels-appl-containers-file-papers-with-sebi-to-mobilise-funds-through-ipos
