The planned IPO for Hotel Polo Towers consists of an offer for sale (OFS) of 71.2 lakh shares by promoters in addition to a new issuance of shares valued at Rs 300 crore.
Three companies have submitted preliminary documents to market watchdog Sebi in order to raise money via initial public offerings (IPOs): Hotel Polo Towers, Bombay Coated & Special Steels, and APPL Containers.
According to their respective draft red herring prospectuses (DRHPs) filed last week, Hotel Polo Towers’ proposed IPO combines a fresh issue of shares worth Rs 300 crore with an offer for sale (OFS) of 71.2 lakh shares by promoters, while Bombay Coated’s IPO is solely a fresh issue of 1.5 crore shares without an OFS component.
According to draft documents, APPL Containers consists of an OFS of 25.60 lakh shares by promoters and a new issuance of 12.5 lakh shares.
The hotel company could think about investing Rs 60 crore before going public. This approach will result in a reduction in the size of the new issue.
According to the statement, the profits from the new issuance will be used for a number of things, such as paying off debt, satisfying the company’s capital expenditure needs, and partially supporting the cost of starting, growing, and upgrading existing assets.
Under the “Polo” and “Max” brands, Hotel Polo Towers creates, owns, runs, and oversees a network of high-end and midscale hotels and resorts in northeast, east, and north India.
Nine hotels and resorts, including Agartala (Tripura), Kolkata (West Bengal), Cherrapunjee (Meghalaya), Shillong (Meghalaya), Prayagraj (Uttar Pradesh), Jabalpur (Madhya Pradesh), Tura (Meghalaya), and Neermahal (Tripura), are part of the company’s hospitality portfolio as of August 2025. The total inventory of these establishments is 425 keys.
For FY25, its operating revenue was Rs 118 crore, while its profit was Rs 22 crore.
The firm itself will not get any money from the listing since Bombay Coated’s IPO is entirely an OFS.
With an installed capacity of 350,411 tonnes annually, Bombay Coated is a top steel processing facility that specializes in turning steel coils into processed steel products. In FY25, it generated Rs 1,056 crore in operating revenue and Rs 28.6 crore in net profit.
The proceeds from the new issue would be used by APPL Container, a business situated in Bhavnagar, to cover working capital needs, debt repayment, and other corporate objectives.
Established in 2021, APPL Container is a manufacturing firm that specializes in the production of containers. In FY25, it reported Rs 69 crore in operating revenue and Rs 33 crore in net profit.