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B.S. Sponge Files For ₹1,000 Crore IPO, Plans ₹650 Crore Debt Repayment From Fresh Issue Proceeds

B.S. Sponge Files For ₹1,000 Crore IPO, Plans ₹650 Crore Debt Repayment From Fresh Issue Proceeds
Photo: Free Press Journal · view original

Mumbai: Steel manufacturer B.S. Sponge Ltd has filed draft papers with the Securities and Exchange Board of India to raise ₹1,000 crore through an initial public offering. According to the Draft Red Herring Prospectus filed on Wednesday, the proposed B.S. Sponge IPO combines a fresh equity issue...

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