Hotel Polo Towers, Bombay Coated, APPL Containers file IPO papers with Sebi

New Delhi, Sep 29 (PTI) Three firms -- Hotel Polo Towers, Bombay Coated & Special Steels and APPL Containers -- have filed preliminary papers with markets regulator Sebi to mobilise funds through initial public offerings (IPOs).

Hotel Polo Towers' proposed IPO is a combination of fresh issue of shares worth Rs 300 crore and an offer for sale (OFS) of 71.2 lakh shares by promoters, while Bombay Coated's maiden public offering is entirely a fresh issue of 1.5 crore shares with no OFS component, according to their respective draft red herring prospectus (DRHPs) filed last week.

APPL Containers' comprises a fresh issue of 12.5 lakh shares and an OFS of 25.60 lakh shares by promoters, draft papers showed.

The hospitality chain may consider a pre-IPO placement of Rs 60 crore. If such initiative is completed, the fresh issue size will be reduced accordingly.

It said the proceeds from the fresh issue will be utilised for multiple purposes, including part-financing the cost of establishment, expansion, and upgrade of existing properties; meeting the capital expenditure requirements of the company; payment of debt; and general corporate purposes.

Hotel Polo Towers develops, owns, operates and manages a chain of upscale and midscale hotels and resorts in the northeast, east and north India under the 'Polo' and 'Max' brands.

As of August 2025, the company's hospitality portfolio comprises nine operational hotels and resorts located across the country, including 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.

Its revenue from operations stood at Rs 118 crore and profit at Rs 22 crore for FY25.

Since Bombay Coated's IPO is completely an OFS, the company itself will not receive any proceeds from the listing.

Bombay Coated is a leading steel processing centres, specialising in processing steel coils into processed steel products with the current installed capacity is 350,411 tonnes per annum. Its revenue from operations was at Rs 1,056 crore and a net profit of Rs 28.6 crore during FY25.

Bhavnagar-based APPL Container would utilise proceeds from its fresh issuance for funding working capital requirement of the company, payment of debt and general corporate purposes.

Incorporated in 2021, APPL Container is a manufacturing company with a primary focus on container manufacturing. It posted revenue from operations of Rs 69 crore and a net profit of Rs 33 crore during FY25. PTI SP TRB