SEBI has granted observations for the IPO filings of three companies, following their preliminary paper submissions earlier this year. NDTV and the Free Press Journal report that Bonfiglioli Transmissions, Bombay Coated & Special Steels Ltd, and Swaraj Green Power and Fuel Ltd received SEBI observations during June 11–12, 2026. Under SEBI’s process, obtaining observations is treated as approval to proceed with a public offering.
Bonfiglioli Transmissions, the Indian arm of Italy-based Bonfiglioli Group, is preparing its maiden IPO entirely as an offer for sale (OFS) of 4.7 crore shares by promoter Bonfiglioli S.p.A, with no fresh issue component. Sources cited by FPJ estimate the issue size at more than Rs 2,000 crore, and because it is entirely OFS, the company will not receive IPO proceeds; all proceeds go to the selling shareholder.
Bombay Coated & Special Steels Ltd’s proposed IPO consists entirely of a fresh issue of equity shares worth Rs 191 crore, with net proceeds planned for debt repayment, funding acquisition of capital equipment under existing lease arrangements with Siemens Financial Services Pvt Ltd, and general corporate purposes.
Swaraj Green Power and Fuel Ltd’s IPO details are reported at the filing-approval stage, with the company described as an integrated ethanol production and sugar manufacturing business in Satara, Maharashtra.
