Bombay Coated & Special Steels IPO 2026: GMP 2 Nov Today, Subscription Status, Allotment and Listing Date

Bombay Coated & Special Steels IPO 2026: Latest Update

Bombay Coated & Special Steels Limited's ₹183.06 crore mainboard IPO is closing today, November 2, 2026. The public issue opened on October 29 and is priced between ₹78 and ₹82 per equity share.

The IPO is entirely a fresh issue of approximately 2.23 crore equity shares, with no offer-for-sale component. The company plans to utilise the proceeds mainly for repayment or prepayment of borrowings and capital equipment-related expenses.

The company operates in the steel-processing industry, converting steel coils into value-added products for manufacturers across home appliances, automotive, electrical equipment and general engineering sectors.

The shares are proposed to be listed on both the BSE and NSE on November 5, 2026.

Bombay Coated & Special Steels IPO Details

Investors can apply for a minimum of 182 shares in one lot. At the upper price band of ₹82, the minimum application amount is ₹14,924.

Bombay Coated & Special Steels IPO GMP Today

The Grey Market Premium (GMP) is an unofficial indicator of market sentiment before an IPO's stock exchange listing.

A reported GMP snapshot dated October 31, 2026, indicated a premium of approximately ₹7 per share.

Based on this reported premium, the indicative listing price would be around ₹89 per share.

GMP update: The ₹7 figure is a reported historical snapshot, not a confirmed live GMP for November 2. The latest premium may differ. Grey-market transactions are unofficial and do not guarantee listing gains.

Bombay Coated & Special Steels IPO Subscription Status

The IPO received strong initial demand from investors. According to the reported subscription data for October 30, 2026, the issue was subscribed approximately 3.78 times.

The institutional category led participation, while retail and non-institutional investors also showed demand.

These figures represent the October 30 snapshot, not the final subscription status. Since bidding closes on November 2, the final category-wise subscription numbers should be checked after the exchange publishes its closing data.

About Bombay Coated & Special Steels Limited

Bombay Coated & Special Steels Limited is an Indian steel-processing company that transforms steel coils into customised and value-added steel products for industrial customers.

Its product portfolio includes:

• Slit steel coils

• Steel blanks

• Cut-to-length sheets

• Sheared steel products

• Embossed steel products

The company provides processing services such as slitting, cut-to-length processing, shearing and embossing according to customer specifications.

Its products are supplied to original equipment manufacturers (OEMs) and original design manufacturers (ODMs) operating in consumer appliances, automotive components, electrical equipment, ventilation systems and engineering machinery.

The company operates four processing facilities in Wada and Bhiwandi in Maharashtra, Ghiloth in Rajasthan, and Sri City in Andhra Pradesh.

As of June 30, 2026, its aggregate installed processing capacity was approximately 1,23,153 metric tonnes per annum.

Bombay Coated & Special Steels IPO Financial Performance

The company's reported financial performance reflects growth in revenue and profitability.

For FY2026, the company recorded approximately 20% revenue growth compared with FY2025, while profit after tax increased by around 6.5%.

For the quarter ended June 2026, revenue from operations was approximately ₹397.08 crore, and profit after tax stood at ₹15.08 crore.

The company has demonstrated revenue expansion, but its relatively thin profit margins make operating costs, steel price movements and working capital management important factors for investors to monitor.

Objectives of the Bombay Coated & Special Steels IPO

The company intends to use the net proceeds from the fresh issue for the following purposes:

Repayment of borrowings: Approximately ₹125 crore is proposed for repayment or prepayment, in full or in part, of certain existing borrowings. This may help reduce debt obligations and interest expenses.

Capital equipment-related expenses: Around ₹15.77 crore is allocated towards financing the acquisition cost of capital equipment under existing lease arrangements with Siemens Financial Services Private Limited.

General corporate purposes: The remaining proceeds will be utilised for general corporate requirements and business needs.

Since the IPO consists entirely of a fresh issue, the proceeds will go to the company to support its financial and operational objectives.

Growth Opportunities for Bombay Coated & Special Steels

Industrial manufacturing demand: Demand for processed steel products is supported by automotive manufacturing, electrical equipment, appliances and general engineering activities.

Value-added steel processing: Customised steel products and precision processing services can help manufacturers meet specific production requirements.

Multi-location infrastructure: The company's processing facilities across multiple regions provide operational reach and opportunities to serve different industrial customers.

Installed processing capacity: Its manufacturing infrastructure provides a base for handling additional customer requirements, subject to capacity utilisation and demand.

Debt reduction potential: The planned repayment of borrowings may improve financial flexibility and lower interest costs if implemented effectively.

Risks of Investing in Bombay Coated & Special Steels IPO

Investors should carefully assess the following risks before applying:

• Steel price volatility: Changes in steel prices can affect inventory valuation, margins and customer purchasing decisions.

• Working capital requirements: The business requires funding for inventory and customer receivables, which can put pressure on cash flows.

• Debt exposure: The company's borrowing obligations and interest costs should be evaluated alongside its debt-reduction plans.

• Competition: The steel-processing industry faces competition from established processors and other suppliers.

• Industrial demand fluctuations: Slowdowns in automotive, appliance and engineering industries may affect sales volumes.

• Profit margin sensitivity: Rising operating expenses or processing costs may affect profitability even when revenue increases.

Bombay Coated & Special Steels IPO Important Dates

These dates follow the published IPO schedule and remain subject to official exchange updates.

Bombay Coated & Special Steels IPO: Final Overview

Bombay Coated & Special Steels IPO is a ₹183.06 crore mainboard issue closing on November 2, 2026, at a price band of ₹78–₹82 per share.

The company operates in steel processing and supplies customised products to manufacturers across multiple industries. Its FY2026 revenue increased to ₹1,266.82 crore, while profit after tax reached ₹30.54 crore.

The proposed use of IPO proceeds, particularly debt repayment, could support its financial position. However, steel price volatility, working capital requirements, competition and profit margins remain important considerations.

The reported October 30 subscription of 3.78 times and historical GMP of ₹7 offer some insight into investor sentiment, but neither guarantees listing performance.

Investors should review the final subscription figures, official offer documents, financial performance and valuation before making an investment decision.