Bombay Coated & Special Steels IPO 2026: GMP Today, Price Band, Subscription and Listing Date

Bombay Coated & Special Steels IPO 2026: Latest Updated

Bombay Coated and Special Steels Limited is preparing to enter the stock market with a ₹183.06 crore mainboard IPO. The issue will open for subscription on October 29 and close on November 2, 2026.

The company processes steel coils into value-added products used by manufacturers in industries such as consumer durables, automotive, electrical equipment, heating and cooling systems, infrastructure and renewable energy. The IPO consists entirely of a fresh issue, meaning the proceeds will go to the company rather than existing shareholders selling their holdings.

The company plans to use a significant portion of the funds to repay borrowings and acquire equipment currently under lease arrangements, with the balance allocated to general corporate purposes.

Bombay Coated & Special Steels IPO Details

At the upper price band of ₹82, one lot of 182 shares requires an investment of ₹14,924. Investors should confirm the final bid details in the official offer documents before applying.

Bombay Coated & Special Steels IPO GMP Today

The grey market premium (GMP) is an unofficial indicator of market sentiment towards an IPO before its stock-exchange listing.

As of the reported October 25, 2026 snapshot, the GMP was approximately ₹7 per share.

The indicative listing price is calculated by adding the reported GMP to the upper price band. This estimate is not a guarantee of listing performance. GMP can fluctuate before listing and is not an official exchange price.

Bombay Coated & Special Steels IPO Subscription Status

The IPO is scheduled to open on October 29, 2026. As of October 26, public subscription bidding has not begun, so final subscription figures are not yet available.

Once the issue opens, investors can monitor demand from three main categories:

• Qualified Institutional Buyers (QIBs): Institutional investors, subject to the issue's allocation rules.

• Non-Institutional Investors (NIIs): Applicants in the non-institutional category.

• Retail Individual Investors: Individual investors applying under the retail category.

Subscription figures may help indicate investor demand, but they should be considered alongside the company's valuation, financial performance and business risks.

About Bombay Coated and Special Steels Limited

Bombay Coated and Special Steels operates as a steel processing centre. It converts large steel coils into specialised products based on the requirements of manufacturers and industrial customers.

Its services include slitting, cut-to-length processing, shearing and embossing. The resulting products include slit coils, steel blanks, sheets and embossed materials.

The company operates processing facilities in Maharashtra, Rajasthan and Andhra Pradesh. As of June 30, 2026, its installed processing capacity stood at approximately 123,153 metric tonnes per annum.

Its customers operate across multiple industries, including consumer appliances, automotive components, electrical equipment, HVAC systems, infrastructure and renewable energy. The company provides value-added processing and inventory-management services to help customers reduce material waste and streamline their supply chains.

Bombay Coated & Special Steels IPO Financial Performance

The company's reported financial performance shows an increase in revenue and profit over the last three financial years.

Revenue increased by approximately 20% in FY2026 compared with FY2025, while net profit grew by around 6.5%. For the quarter ended June 2026, the company reported revenue of approximately ₹397.08 crore and net profit of ₹15.08 crore.

The figures indicate business growth, but investors should also examine the company's relatively narrow net profit margins, working capital requirements, debt burden and ability to generate cash from operations.

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 planned for repayment or prepayment of certain outstanding borrowings. This is the largest stated use of the IPO proceeds and may help reduce financing costs.

Acquisition of leased equipment: Approximately ₹15.70 crore is earmarked for acquiring capital equipment currently covered by lease arrangements with Siemens Financial Services Private Limited.

General corporate purposes: The remaining eligible proceeds will support general business requirements, subject to the final offer documents.

Since the IPO is entirely a fresh issue, the proceeds are intended for the company rather than for an exit by selling shareholders.

Growth Opportunities for Bombay Coated & Special Steels

Demand from manufacturing industries: Steel processing supports the production of appliances, automotive components, electrical equipment and other manufactured goods.

Value-added processing: Slitting, shearing, embossing and cut-to-length services can help customers reduce in-house processing requirements and material wastage.

Multiple manufacturing locations: Processing facilities across different regions can support customer reach and operational flexibility.

Renewable energy and infrastructure: Investment in infrastructure and energy-related equipment may create additional demand for processed steel products.

Debt reduction: Using IPO proceeds to repay borrowings could improve the company's financial flexibility, depending on future cash flows and business needs.

These opportunities depend on market demand, steel prices, customer orders, operating efficiency and the company's ability to manage costs.

Risks of Investing in Bombay Coated & Special Steels IPO

Before applying, investors should consider the following risks:

• Steel price fluctuations: Changes in steel prices can affect inventory valuation, customer demand and operating margins.

• Low profit margins: Revenue growth does not necessarily translate into proportional profit growth.

• High borrowings: The company has reported substantial outstanding borrowings, making debt repayment and interest costs important considerations.

• Working capital requirements: Inventory purchases and customer payment cycles may place pressure on cash flow.

• Industry competition: Steel processors face competition on price, quality, delivery and service.

• Dependence on industrial demand: Slower activity in manufacturing, construction or infrastructure could affect order volumes.

• Customer concentration and execution: Dependence on major customers or operational disruptions could affect revenue and profitability.

Investors should review the Red Herring Prospectus for the full risk disclosures and detailed financial information.

Bombay Coated & Special Steels IPO Important Dates

These dates reflect the reported IPO schedule and may be subject to official updates.

Bombay Coated & Special Steels IPO: Final Overview

Bombay Coated & Special Steels IPO is a ₹183.06 crore mainboard offering that aims to strengthen the company's balance sheet and support its operations. Its business serves several manufacturing sectors, while reported revenue has grown over the past three financial years.

The planned debt repayment is a key part of the offer, but investors should weigh this against the company's borrowings, relatively modest FY2026 profit growth and exposure to steel prices and industrial demand.

The reported GMP of ₹7 is only an unofficial snapshot and should not be treated as a guaranteed listing gain. Reviewing the final offer documents, valuation and financial risks is important before making an investment decision.