Thriving IPO Journey: New Waves in India's Hospitality and Steel Industries

Three companies, Hotel Polo Towers, Bombay Coated & Special Steels, and APPL Containers, have filed for IPOs to raise capital. Each company has distinct plans for the proceeds, targeting expansion, debt repayment, and working capital. These IPOs highlight growth in India's hospitality and steel industries.

Hotel Polo Towers, Bombay Coated & Special Steels, and APPL Containers have all recently submitted preliminary paperwork to the Securities and Exchange Board of India (SEBI) to raise capital through initial public offerings (IPOs). This move marks a significant step in expanding their respective industries.

The hospitality chain, Hotel Polo Towers, plans an IPO consisting of a fresh share issue worth Rs 300 crore and an offer for sale (OFS) of 71.2 lakh shares by promoters. Meanwhile, Bombay Coated's public offering is solely a fresh issue of 1.5 crore shares. APPL Containers aims to issue 12.5 lakh fresh shares alongside an OFS of 25.60 lakh shares by promoters.

The proceeds from these IPOs are intended for various strategic purposes. Hotel Polo Towers will focus on expansion and upgrading existing properties, among other objectives. In contrast, Bombay Coated will not receive proceeds as its IPO is entirely an OFS. APPL Containers plans to utilize the funds for working capital, debt payment, and general corporate purposes, highlighting the companies' diverse growth strategies.

(With inputs from agencies.)