Bombay Coated and Special Steels Ltd has launched its initial public offering (IPO), which will be open for subscription from October 29 to November 2, 2026. The IPO is a fresh issuance of equity shares with a price band set between ₹78 and ₹82 per share. This article explains the key details of the IPO, including the lot size, use of funds, and the company’s operations.
- The IPO is valued at ₹183.1 crore and consists entirely of fresh equity shares.
- The price band is fixed at ₹78 to ₹82 per share.
- A lot size consists of 182 shares.
- At least 50% of the offer is reserved for qualified institutional buyers (QIBs).
- At least 15% is reserved for non-institutional investors (NIIs).
- At least 35% is reserved for retail individual investors (RIIs).
What is the purpose of Bombay Coated and Special Steels’ IPO?
The company plans to use the proceeds from the fresh issue primarily for debt clearance, amounting to ₹125 crore. Additionally, ₹15.7 crore will be used to finance the acquisition of capital equipment under existing lease arrangements with Siemens Financial Services. The remaining funds will support general corporate purposes. The company expects that listing its shares on stock exchanges will enhance its visibility and brand image, and create a public market for its equity shares in India.
What products and services does Bombay Coated and Special Steels offer?
Incorporated in 2019, Bombay Coated and Special Steels operates as a steel processing centre. It converts steel coils into value-added products through processes such as slitting, cut-to-length processing, shearing, and embossing. The company serves original equipment manufacturers (OEMs) and original design manufacturers (ODMs) across various sectors including consumer durables, home appliances, automotive, electrical equipment, refrigeration, infrastructure, and general engineering.
Where are the company’s manufacturing facilities located?
The company operates manufacturing units in multiple locations across India. These include Wada and Bhiwandi in Maharashtra, Ghiloth in Rajasthan, and Sri City in Andhra Pradesh. As of June 30, 2026, these facilities had a combined installed processing capacity of 1,23,153 metric tonnes per annum (MTPA).
What are the company’s recent financial highlights?
For the financial year 2026, Bombay Coated and Special Steels reported a profit after tax of ₹30.5 crore and revenue from operations of ₹1,266.8 crore. In the three months ending June 30, 2026, the company posted revenue of ₹397 crore and a net profit of ₹15 crore. The company has been an authorized service partner of JSW Steel Coated Products Ltd and its holding company since 2021, which provides access to steel coils for processing.
Who manages the IPO process?
Smart Horizon Capital Advisors is the book-running lead manager for the IPO. KFin Technologies serves as the registrar for the issue, handling investor communications and share allotment.
