B.S. Sponge Ltd. IPO Details
B.S. Sponge was incorporated on June 12, 2000. The company is a leading Indian manufacturer of steel and steel products, with an integrated and diversified manufacturing chain. Its portfolio includes sponge iron, billets and slabs, TMT bars, HR coils, wire rods, ERW pipes and tubes, and ferro alloys, covering multiple stages of the steel value chain
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 0 | - | - | ₹10,000.0 M | DRHP DOC |
BS Sponge issue details
BS Sponge IPO issue size is ₹ 10,000.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
BS Sponge IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
BS Sponge NUMBER OF SHARES ON OFFER
BS Sponge FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 2,592.5 | 171.1 | 144.1 | -93.0 | 14.4% |
| FY25 | 2,187.8 | 158.4 | 300.9 | -4.5 | 15.4% |
| FY24 | 1,494.4 | 143.9 | 182.5 | -87.7 | 19.1% |
BS Sponge INFORMATION ON IPO ISSUE
About BS Sponge
B.S. Sponge was incorporated on June 12, 2000. The company is a leading Indian manufacturer of steel and steel products, with an integrated and diversified manufacturing chain. Its portfolio includes sponge iron, billets and slabs, TMT bars, HR coils, wire rods, ERW pipes and tubes, and ferro alloys, covering multiple stages of the steel value chain
Object of the Issue
- Repayment/ pre-payment, in full or in part, of all or certain outstanding borrowings and accrued interest thereon availed by the company
- General corporate purposes
BS Sponge - PROMOTERS
| Name |
|---|
| Parmanand Agarwal |
| Ashish Agarwal |
| Richhi Agarwal |
| Bijay Kumar Agarwal |
| Nachiketa Gift-Ads Private Limited |
BS Sponge - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Parmanand Agarwal | Chairman, Non-Executive & Non-Independent Director |
| Ashish Agarwal | Managing Director |
| Richhi Agarwal | Whole-time Director |
| Bijay Kumar Agarwal | Whole–time Director |
| Mazhar Hussain Arif | Independent Director |
| Prem Sagar Mishra | Independent Director |
| Deepali Soni | Independent Director |
| Pooja Sadhwani | Independent Director |
BS Sponge Book Running Lead Manager
ICICI Securities Limited
bssponge.ipo@icicisecurities.com
Motilal Oswal Investment Advisors Limited
bssponge.ipo@motilaloswal.com
BS Sponge Registrar to the Offer
MUFG Intime India Private Limited
bssponge.ipo@in.mpms.mufg.com
BS Sponge Strengths
Diversified product portfolio
The company manufactures a diversified range of semi-finished and value-added steel products serving construction, infrastructure, manufacturing, engineering and other industries. Its integrated product mix allows it to adjust production and captive consumption based on market demand, providing multiple revenue streams and greater operational flexibility
Integrated manufacturing facility
The company operates an integrated steel manufacturing facility in Raigarh, Chhattisgarh, spread across 47.19 hectares, with captive power infrastructure supporting cost and operational efficiency. Its integrated process converts raw materials into sponge iron, billets, slabs and value-added products such as HR coils, wire rods, TMT bars and ERW pipes, reducing external processing and improving energy and capacity utilisation
Project execution capabilities
The company has demonstrated strong execution capabilities by expanding its steel manufacturing capacity from 735,000 TPA in FY23 to 1,627,500 TPA in FY26, while diversifying its product portfolio across the steel value chain. These brownfield expansions leverage existing infrastructure and utilities, enabling efficient project execution, shorter timelines and timely completion of major capacity expansion projects
BS Sponge Risks
Competition
The company operates in a highly competitive steel industry and faces competition from domestic and international manufacturers, including Shyam Metalics and Energy, Gallantt Ispat, Sambhv Steel Tubes and Jai Balaji Industries. Its ability to maintain market share depends on product quality, pricing, cost efficiency, technology, raw material access, funding, distribution and its ability to respond to changing customer preferences and competitor strategies
Steel price fluctuations
The company is exposed to the cyclical nature of the steel industry, volatility in steel prices and fluctuations in domestic demand, which may affect its profitability, margins and financial condition. Changes in import duties, increased low-priced imports, global steel prices, trade policies and economic or government policy changes may further increase competition and adversely impact its market share and performance
Depend on third party logistics
The company depends on third-party road and rail logistics providers for transporting raw materials and finished products, without long-term arrangements with most providers. Delays, transport disruptions, higher freight or fuel costs, accidents, regulatory restrictions or product damage in transit could increase costs, disrupt operations, delay deliveries and adversely affect its business, cash flows and financial performance
IPO FAQs
The promoters of the company are Parmanand Agarwal, Ashish Agarwal, Richhi Agarwal, Bijay Kumar Agarwal and Nachiketa Gift-Ads Private Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.