Bombay Coated & Special Steels IPO: Latest Updated
Bombay Coated & Special Steels Limited is set to launch its ₹183.06 crore initial public offering on October 29, 2026. The company operates as a steel processing centre, converting steel coils into value-added products for industries including consumer durables, automotive, electrical equipment and infrastructure.
The IPO will remain open until November 2, 2026. The issue consists entirely of a fresh issue of equity shares, meaning the proceeds will be received by the company to support its financial and operational requirements.
The company plans to use a substantial portion of the funds to repay borrowings and finance certain capital equipment costs. Investors can assess its revenue growth, debt position, manufacturing capacity and valuation before applying.
Bombay Coated & Special Steels IPO Details
| Particular | Details |
|---|---|
| Company Name | Bombay Coated & Special Steels Limited |
| IPO Opening Date | October 29, 2026 |
| IPO Closing Date | November 2, 2026 |
| Issue Size | ₹183.06 crore |
| Issue Type | Fresh Issue |
| Shares Offered | Approximately 2.23 crore shares |
| Price Band | ₹78–₹82 per share |
| Face Value | ₹10 per share |
| Lot Size | 182 shares |
| Minimum Investment | ₹14,924 at the upper price band |
| Allotment Date | November 3, 2026 (expected) |
| Refund Initiation | November 4, 2026 (tentative) |
| Demat Credit | November 4, 2026 (tentative) |
| Expected Listing Date | November 5, 2026 |
| Listing Exchanges | NSE and BSE |
| Registrar | KFin Technologies |
| Book Running Lead Manager | Smart Horizon Capital Advisors |
At the upper price band of ₹82, one lot of 182 shares requires an investment of ₹14,924, excluding applicable charges.
Bombay Coated & Special Steels IPO GMP Today
As of October 26, 2026, IPO-tracking websites report a grey market premium of approximately ₹7–₹8 per share. Using the upper price band of ₹82, this indicates an unofficial estimated listing price of ₹89–₹90.
| Particular | Details |
|---|---|
| Upper Price Band | ₹82 |
| Reported GMP Range | ₹7–₹8 |
| Indicative Listing Price | ₹89–₹90 |
| Indicative Premium | Approximately 8.5%–9.8% |
The grey market premium is unofficial and can fluctuate before the IPO opens and during subscription. It does not guarantee the actual listing price or investor returns.
About Bombay Coated & Special Steels Limited
Bombay Coated & Special Steels operates as a steel processing centre, providing services such as slitting, cut-to-length processing, shearing and embossing. These processes convert steel coils into products suited to customers' manufacturing requirements.
Its products include slit coils, sheets, blanks and other processed steel materials used in household appliances, automotive components, electrical equipment, heating and cooling systems, and infrastructure applications.
The company operates manufacturing facilities in Maharashtra, Rajasthan and Andhra Pradesh. Its business model connects steel producers with industrial customers that require processed materials in specific sizes and formats.
Demand depends on manufacturing activity, infrastructure spending, customer requirements and movements in steel prices.
Bombay Coated & Special Steels IPO: Use of Proceeds
The company plans to utilise the net proceeds from the IPO for the following purposes:
| Particular | Purpose |
|---|---|
| Debt Repayment | Approximately ₹125 crore for repayment or prepayment of borrowings |
| Capital Equipment | Approximately ₹15.77 crore for costs related to existing equipment lease arrangements |
| General Corporate Purposes | Remaining eligible proceeds for business requirements |
Debt repayment is the principal objective of the issue. Reducing borrowings may ease interest costs and improve the company's financial position, although its future performance will continue to depend on operating profitability and cash generation.
Bombay Coated & Special Steels Financial Performance
The company reported growth in revenue and profit in FY2026.
| Particular | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | ₹755.26 crore | ₹1,055.71 crore | ₹1,266.82 crore |
| Net Profit | ₹21.14 crore | ₹28.67 crore | ₹30.54 crore |
Revenue increased substantially over the period, while profit also grew. However, profit growth was slower than revenue growth, making operating margins and cost control important factors to examine.
Investors should also assess the company's borrowings, working-capital requirements, interest costs and cash flows. Steel processing businesses can be sensitive to raw-material prices and changes in demand from industrial customers.
Key Factors Investors Should Consider
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Debt levels: The proposed use of ₹125 crore for debt repayment makes the company's borrowing position an important consideration.
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Steel price movements: Changes in steel prices can affect inventory values, margins and working-capital needs.
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Industrial demand: Sales depend on manufacturing activity across appliances, automotive, electrical equipment and infrastructure.
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Customer concentration: Dependence on a limited number of large customers can create business risks.
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Profit margins: Investors should assess whether the company can maintain profitability as revenue expands.
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IPO valuation: The issue price should be compared with earnings, net worth, debt and listed industry peers.
Bombay Coated & Special Steels IPO: Important Dates
The anchor investor bidding is scheduled for October 28, 2026. The public issue will open on October 29 and close on November 2. The basis of allotment is expected on November 3, with tentative refunds and demat share credits on November 4. Listing is scheduled for November 5, 2026, subject to the final exchange timetable.
Investors should verify the schedule through official exchange announcements and the registrar.
Should Investors Apply for the Bombay Coated & Special Steels IPO?
Bombay Coated & Special Steels operates in the industrial steel-processing sector and has reported revenue growth over the past three financial years. Its planned debt repayment is a key feature of the IPO and may help strengthen its balance sheet.
At the same time, investors should examine the company's margins, debt burden, working-capital requirements and sensitivity to steel prices before making a decision. The reported GMP should be treated only as an unofficial market indicator, not as a guarantee of listing gains.
Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice. IPO details and GMP estimates may change. Review the final prospectus and official exchange announcements before investing.
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