New Delhi: Three companies — Hotel Polo Towers, Bombay Coated & Special Steels, and APPL Containers — have filed preliminary papers with the markets regulator SEBI to raise funds through initial public offerings (IPOs).
**Hotel Polo Towers**
Hotel Polo Towers’ proposed IPO comprises a combination of a fresh issue of shares worth Rs 300 crore and an offer for sale (OFS) of 71.2 lakh shares by its promoters. The hospitality chain is also considering a pre-IPO placement of Rs 60 crore. If completed, the size of the fresh issue will be reduced accordingly.
The company plans to use the proceeds from the fresh issue for multiple purposes, including part-financing the establishment, expansion, and upgrade of existing properties; meeting capital expenditure requirements; repayment of debt; and other 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 its ‘Polo’ and ‘Max’ brands.
As of August 2025, the company’s hospitality portfolio includes nine operational hotels and resorts located in Agartala (Tripura), Kolkata (West Bengal), Cherrapunjee (Meghalaya), Shillong (Meghalaya), Prayagraj (Uttar Pradesh), Jabalpur (Madhya Pradesh), Tura (Meghalaya), and Neermahal (Tripura), with an aggregate inventory of 425 keys.
For FY25, Hotel Polo Towers reported revenue from operations of Rs 118 crore and a net profit of Rs 22 crore.
**Bombay Coated & Special Steels**
Bombay Coated’s maiden public offering consists entirely of a fresh issue of 1.5 crore shares, with no OFS component. The company is a leading steel processing center specializing in transforming steel coils into processed steel products. It has a current installed capacity of 350,411 tonnes per annum.
During FY25, Bombay Coated recorded revenue from operations of Rs 1,056 crore and a net profit of Rs 28.6 crore.
**APPL Containers**
Bhavnagar-based APPL Containers’ IPO includes a fresh issue of 12.5 lakh shares and an OFS of 25.60 lakh shares by promoters. The company intends to utilize the proceeds primarily to fund working capital requirements, debt repayment, and general corporate purposes.
Incorporated in 2021, APPL Containers is a manufacturing company focusing on container manufacturing. For FY25, it posted revenue from operations of Rs 69 crore and a net profit of Rs 33 crore.
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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