Key facts
- Sebi has approved IPO proposals for Bombay Coated and Special Steels, Bonfiglioli Transmissions, and Swaraj Green Power and Fuel.
- Bombay Coated plans to raise funds through a fresh issue of up to 1.5 crore equity shares.
- Bonfiglioli Transmissions' IPO will be an offer for sale of up to 4.7 crore shares.
- Swaraj Green Power and Fuel operates an integrated sugar and bio-energy business.
India's capital markets regulator, Sebi, has granted approval for the initial public offerings (IPOs) of three companies: Bombay Coated and Special Steels, Bonfiglioli Transmissions, and Swaraj Green Power and Fuel. These approvals signal upcoming market debuts in the steel, industrial equipment, and bio-energy sectors.
Bombay Coated and Special Steels plans to raise funds through a fresh issuance of up to 1.5 crore equity shares. Following this offering, the company's outstanding shares are expected to increase from 3.96 crore to 5.46 crore. Smart Horizon Capital Advisors is managing the book-running process, with KFin Technologies serving as the registrar. The company is promoted by Vijaykumar Himatrai Gupta, Nitin Vijaykumar Gupta, and Bhawna Nitin Gupta.
Industrial gearbox manufacturer Bonfiglioli Transmissions has also received regulatory clearance for its IPO. This public issue will be an offer for sale, involving up to 4.7 crore shares, meaning existing shareholders will dilute their holdings rather than the company raising fresh capital. Axis Capital is the book-running lead manager, and MUFG Intime India is the registrar.
Maharashtra-based Swaraj Green Power and Fuel, which operates an integrated sugar and bio-energy business, has also secured Sebi's nod. The company's facilities include a 7,500 tonnes per day sugar crushing unit, a 500 KLPD ethanol plant, and a 26.5 MW cogeneration power unit. Swaraj Green is positioned to benefit from India's ethanol blending program, a key policy initiative aimed at reducing oil imports and promoting cleaner fuels. The company produces sugar, ethanol, extra neutral alcohol (ENA), rectified spirit, and power from its integrated complex, emphasizing sustainable operations and efficient water usage.