IPO Wave: Three Firms Set to Raise Capital with Market Debut
Hotel Polo Towers, Bombay Coated & Special Steels, and APPL Containers are gearing up for initial public offerings. Their draft papers reveal plans to use proceeds for company expansion, debt repayment, and general purposes. Each firm's offering strategy differs, showcasing unique industry positions and financial performances.
- Country:
- India
Three firms have taken steps to enter the capital markets at a time when investment activity is showing signs of growth. Hotel Polo Towers, Bombay Coated & Special Steels, and APPL Containers have all filed preliminary papers with the Securities and Exchange Board of India (Sebi) to garner funds through initial public offerings (IPOs).
Hotel Polo Towers is eyeing a combination of fresh share issues worth Rs 300 crore, paired with an offer for sale (OFS) of 71.2 lakh shares by the company's promoters. Meanwhile, Bombay Coated & Special Steels is pursuing a wholly fresh issue, amounting to 1.5 crore shares, according to their respective draft red herring prospectuses filed recently.
APPL Containers plans a fresh issue of 12.5 lakh shares and an OFS of 25.60 lakh shares. Each firm has distinctive motives and strategies for their IPOs, highlighting differences in business needs and growth approaches. These moves showcase their strategies for expansion, debt payment, and enhancing operational capabilities.
(With inputs from agencies.)
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