Bombay Coated and Special Steels Limited is set to launch its Initial Public Offering (IPO) on October 29, 2026. The book-built issue, valued at Rs 183.1 crore, consists entirely of a fresh issue of equity shares, each with a face value of Rs 10.
IPO Details and Key Dates
The price band for the IPO has been fixed at Rs 78 to Rs 82 per equity share. The subscription window will open on October 29, 2026, and close on November 2, 2026. Potential investors can apply for a minimum of 182 equity shares, with bids accepted in multiples of 182 thereafter.
Smart Horizon Capital Advisors Private Limited is serving as the book-running lead manager for the IPO, while KFin Technologies Limited has been appointed as the registrar. The shares are slated for listing on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Company Overview and Operations
Incorporated in 2019, Bombay Coated and Special Steels specializes in converting steel coils into various processed products. The company employs techniques such as slitting, cut-to-length processing, shearing, and embossing to deliver customized steel solutions.
The company operates multiple facilities across India, including Wada and Bhiwandi in Maharashtra, Ghiloth in Rajasthan, and Sri City in Andhra Pradesh. As of June 30, 2026, its aggregate installed processing capacity stood at 1,23,153 tonnes per annum.
Financial Performance and Use of Proceeds
Bombay Coated and Special Steels reported strong financial performance. For the quarter ending June 2026, the company posted revenue from operations of Rs 397 crore and a net profit of Rs 15 crore. Over the financial years, revenue increased significantly from Rs 755.2 crore in FY24 to Rs 1,266.8 crore in FY26. Net profit also saw growth, rising from Rs 21.1 crore in FY24 to Rs 30.5 crore in FY26.
The proceeds from the IPO are earmarked for several strategic purposes. Approximately Rs 125 crore will be utilized for the repayment or prepayment of existing borrowings. Another Rs 15.7 crore is allocated to finance the acquisition of capital equipment under current lease arrangements with Siemens Financial Services Private Limited. The remaining funds will be used for general corporate purposes.
The issue structure reserves not more than 50% of the offer for qualified institutional buyers, not less than 15% for non-institutional investors, and at least 35% for retail individual investors.