B.S.Sponge IPO (DRHP filed)
B. S. Sponge Limited filed its draft red herring prospectus with SEBI on 5 Oct 2026 for an issue of about ₹1,000.00 Cr. Price band, lot size and issue dates are announced only after SEBI observations and the RHP filing.
Last updated
- Stage
- DRHP Filed
- DRHP filed
- 5 Oct 2026
- Days since
- 13
- Issue size
- ₹1,000.00 Cr
- Board
- Mainboard
- Price band
- TBA
B.S.Sponge IPO status
B. S. Sponge Limited filed its draft red herring prospectus (DRHP) with SEBI on . The issue can open only after SEBI issues its observations and the company files the RHP with the price band.
| DRHP filed | 5 Oct 2026 |
|---|---|
| Days since filing | 13 |
| SEBI observation | Awaited |
| Price band | TBA |
| Issue dates | TBA |
Share reservation by category
| Category | Shares Details |
|---|---|
| Qualified Institutions | Not More Than 50% of the Net Issue |
| Retail Investors | Not Less Than 35% of the Net Issue |
| Non-Institutional | Not Less Than 15% of the Net Issue |
B. S. Sponge Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹2,192.52 Cr to ₹2,606.06 Cr, and profit after tax rose from ₹158.43 Cr to ₹171.11 Cr. The PAT margin for 31 Mar 2026 was 6.57%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1,785.75 | 1,464.98 | 1,078.78 |
| Total Income | 2,606.06 | 2,192.52 | 1,496.25 |
| Profit After Tax | 171.11 | 158.43 | 143.95 |
| EBITDA | 386.55 | 341.29 | 286.94 |
| Net Worth | 714.82 | 544.17 | 385.81 |
| Reserve & Surplus | 710.51 | 539.41 | 380.97 |
| Total Borrowings | 770.99 | 624.48 | 513.71 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| ROE % | 24.18 | 29.61 | 37.88 |
| ROCE % | 22.90 | 25.51 | 29.68 |
| Debt / Equity | 0.97 | 1.01 | 1.14 |
| RoNW % | 27.18 | 34.07 | 45.88 |
| Pat Margin % | 6.60 | 7.24 | 9.63 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| B.S.Sponge Limited | 10 | — | 8.10 | 8.10 | 27.18% | 33.84 |
| Shyam Metalics & Energy Ltd. | 10 | 28.29 | 38.10 | 37.97 | 9.70% | 412.72 |
| Gallantt Ispat Ltd | 10 | 26.86 | 20.07 | 20.07 | 15.73% | 137.44 |
| Jai Balaji Industries Ltd. | 2 | 44.61 | 1.42 | 1.42 | 5.93% | 24.75 |
| Sambhv Steel Tubes Ltd. | 10 | 32.13 | 5.05 | 5.05 | 18.35% | 35.76 |
Notes
P/E Ratio for the listed peers has been computed based on the closing market price of equity shares on NSE as on September 29, 2026, divided by the Diluted EPS.
Return on Net Worth (%) = PAT Profit / (loss) for the year / Average of net worth.
"Net Worth" means the aggregate value of the paid-up share capital and all reserves created out of the profits and securities premium account and debit or credit balance of profit and loss account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the Restated Financial Information, but does not include reserves created out of revaluation of assets, write-back of depreciation and amalgamation.
Net Asset Value per equity share is calculated as total equity at the end of the period/ year (excluding revaluation reserve) divided by the weighted average number of equity shares outstanding at the end of the financial year 2026 Denominator is adjusted for bonus issue that have changed the number of equity shares outstanding, without a corresponding change in resources
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/ pre-payment, in full or in part, of all or certain outstanding borrowings and accrued interest thereon availed by our Company | 650.00 |
| 2 | General corporate purposes | — |
| Total | 650 |
About B. S. Sponge Limited
Incorporated in June 2000, B. S. Sponge Limited is a steel manufacturer engaged in the production of semi-finished and value-added finished steel products. Its product portfolio comprises sponge iron, billets and slabs, TMT bars, HR coils, wire rods, ERW pipes and tubes, and ferro alloys, primarily silico manganese. The Company operates an integrated steel manufacturing model, encompassing the conversion of iron ore into sponge iron and the subsequent manufacture of semi-finished and value-added finished steel products. It commenced manufacturing operations in 2005 with an installed sponge iron capacity of 30,000 TPA and has since expanded its operations through capacity additions and forward integration. As of March 31, 2026, the Company had an installed sponge iron capacity of 675,000 TPA and an aggregate installed capacity of 1,627,500 TPA across its semi-finished and finished steel product portfolio.
All manufacturing operations are conducted at the Company's approximately 47.19-hectare integrated manufacturing facility located at Taraimal, Raigarh, Chhattisgarh. The facility comprises six 100 TPD and six 250 TPD sponge iron rotary kilns and is supported by a 67 MW captive power plant. The captive power facility provides greater control over power availability and energy costs, while the Company's integrated manufacturing infrastructure and presence in a mineral-rich region support procurement, logistics and operational efficiencies.
The Company caters to customers across a broad range of end-use industries, including steel manufacturing, construction and infrastructure, residential and commercial development, agriculture, industrial and engineering applications, and downstream steel product manufacturing. Its products are sold for both captive consumption and open-market sales through direct institutional sales as well as a network of traders, distributors and dealers.
As of March 31, 2026, the Company had 2,020 permanent employees and 407 contractual employees. Its permanent workforce is primarily deployed across its steel manufacturing facility and captive power plant operations.
Promoters
Parmanand Agarwal
Ashish Agarwal
Richhi Agarwal
Bijay Kumar Agarwal
Nachiketa Gift-Ads Private Ltd.
Contact details
B.S.Sponge Limited
34A, Metcalfe Street
2nd Floor Room No. 2C/3
Kolkata, West Bengal, 700013
Tel: +91 33 3537 6881
E-mail: cs@bsstmx.com
Website: https://www.bsstmx.com/
B.S.Sponge IPO FAQs
- Has B.S.Sponge IPO filed for an IPO?
- B. S. Sponge Limited filed its draft red herring prospectus (DRHP) with SEBI on 5 Oct 2026.
- When will the B.S.Sponge IPO open?
- Issue dates are announced after SEBI observations and the RHP filing. They are not available yet.
- What is the B.S.Sponge IPO price band?
- The price band is announced a few days before the issue opens. It is not available yet.
- What is the B.S.Sponge IPO size?
- The DRHP proposes an issue of about ₹1,000.00 Crore. The final size can change in the RHP.
Details are from the draft prospectus and can change in the final RHP. This is not investment advice.