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B.S. Sponge Files Draft Papers for Rs 1,000 Crore IPO
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News18•01-10-2026, 11:15
B.S. Sponge Files Draft Papers for Rs 1,000 Crore IPO
- •B.S. Sponge Ltd, a steel and steel products manufacturer, has filed draft papers with Sebi for an Initial Public Offering (IPO) to raise Rs 1,000 crore.
- •The IPO comprises a fresh issue of equity shares worth up to Rs 800 crore and an Offer For Sale (OFS) of shares worth up to Rs 200 crore by promoters.
- •The company plans to utilize Rs 650 crore from the fresh issue proceeds for repayment or pre-payment of outstanding borrowings and accrued interest.
- •B.S. Sponge manufactures a diversified portfolio of semi-finished and value-added finished steel products, including sponge iron, TMT bars, HR coils, and wire rods.
- •Its integrated manufacturing operations are supported by a 67-MW captive power plant, as per the DRHP.
Key Questions Answered
B.S. Sponge Ltd has filed draft papers with Sebi to raise Rs 1,000 crore through an Initial Public Offering (IPO).
The proposed IPO comprises a fresh issue of equity shares worth up to Rs 800 crore and an Offer For Sale (OFS) of shares worth up to Rs 200 crore by promoters.
The company plans to use Rs 650 crore of the net proceeds for the repayment or pre-payment of certain outstanding borrowings and accrued interest, with the rest allocated for general corporate purposes.
