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

Bombay Coated & Special Steels IPO 2026: Latest Update

Bombay Coated & Special Steels Limited has launched its ₹183.06 crore mainboard IPO on October 29, 2026. The public issue is entirely a fresh issue of approximately 2.23 crore equity shares, with no offer-for-sale component.

The IPO will remain open for subscription until November 2, 2026. The company has fixed its price band at ₹78–₹82 per share, and the shares are proposed to be listed on both the BSE and NSE on November 5, 2026.

The company operates in the steel-processing industry, supplying value-added steel products to manufacturers in the home appliance, automotive, electrical equipment and general engineering sectors.

Bombay Coated & Special Steels IPO Details

At the upper price band of ₹82, investors need ₹14,924 to apply for one lot of 182 shares.

Bombay Coated & Special Steels IPO GMP Today

The grey market premium (GMP) is an unofficial indicator that reflects informal market expectations about an IPO's potential listing performance.

As reported on October 30, 2026, the GMP was approximately ₹9 per share.

Based on this GMP, the indicative listing price would be around ₹91. This is only an estimate based on unofficial grey-market activity. GMP can change quickly and does not guarantee actual listing performance.

Bombay Coated & Special Steels IPO Subscription Status

The IPO received an overall subscription of approximately 3.07 times in a reported October 30, 2026 snapshot at 11:21 AM.

Institutional investors showed the strongest participation in the reported snapshot. Retail demand was also above the number of shares reserved for that category.

These figures are time-specific and may change during the remaining bidding period. Final subscription figures will be available after the issue closes on November 2.

About Bombay Coated & Special Steels Limited

Bombay Coated & Special Steels Limited is a steel-processing company established in 2019. It processes steel coils into specialised products used by manufacturers across several industrial segments.

Its product portfolio includes slit coils, embossed coils, blanks and sheared steel products. The company also provides inventory management and logistics support to customers.

Its customers primarily operate in home appliances, automotive, electrical equipment and general engineering. The company has four processing facilities across Maharashtra, Rajasthan and Andhra Pradesh.

As of June 30, 2026, its installed processing capacity stood at approximately 1,23,153 metric tonnes per annum. The company has also been an authorised service partner of JSW Steel Coated Products Limited since 2021.

Bombay Coated & Special Steels IPO Financial Performance

The company's financial performance has shown growth in revenue and profitability.

For the quarter ended June 30, 2026, the company reported revenue from operations of approximately ₹397.08 crore, EBITDA of ₹32.17 crore and profit after tax of ₹15.08 crore.

Revenue increased by approximately 20% in FY2026 compared with FY2025. Profit after tax also improved, although investors should evaluate margins, debt levels and cash-flow performance alongside revenue growth.

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 to be used to repay or prepay certain existing borrowings. This could help reduce the company's debt burden and interest costs.

Capital equipment arrangements: 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 support general corporate requirements and business operations.

Since the issue is entirely a fresh issue, the proceeds will go to the company rather than existing shareholders through an offer for sale.

Growth Opportunities for Bombay Coated & Special Steels

Growing demand for processed steel: Manufacturing sectors such as automobiles, appliances and electrical equipment require processed steel products for their production activities.

Diversified customer industries: The company's presence across multiple industrial segments may help it serve different sources of demand.

Processing infrastructure: Its four manufacturing facilities and installed capacity provide an operational base for handling customer requirements.

Relationship with JSW Steel: Its authorised service-partner relationship with JSW Steel Coated Products provides an established business connection in the steel-processing ecosystem.

Debt reduction: The planned repayment of borrowings may improve financial flexibility if the company maintains stable operating performance.

Risks of Investing in Bombay Coated & Special Steels IPO

Before applying, investors should consider the following business and financial risks:

• Steel price volatility: Changes in steel prices can affect inventory valuation, margins and working capital.

• High working capital needs: Steel processing requires investment in raw materials and inventory, which can place pressure on cash flows.

• Debt exposure: Although IPO proceeds are intended partly for debt repayment, the company's financial obligations should be evaluated carefully.

• Industrial demand: Lower demand from automotive, appliance or engineering manufacturers could affect business volumes.

• Competition: The company operates in a competitive steel-processing market.

• Customer concentration: Dependence on a limited number of large customers may affect revenue stability.

• Operational risks: Equipment breakdowns, supply-chain interruptions and production delays may affect profitability.

Bombay Coated & Special Steels IPO Important Dates

These are the expected dates published in the 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 issue at a price band of ₹78–₹82 per share. The company operates in steel processing and supplies value-added products to manufacturers in several industrial sectors.

Its FY2026 revenue and profit increased compared with FY2025, while a substantial portion of the IPO proceeds is planned for repayment of borrowings. This could support its financial position, although steel-price movements, working capital requirements and industrial demand remain important factors to monitor.

The reported GMP of ₹9 and subscription of 3.07 times as of October 30 indicate positive early market interest. However, investors should not rely only on GMP or subscription figures. A careful review of the company's financial position, valuation, business risks and official offer documents is important before making an investment decision.