- Summary
- The Bombay Coated & Special Steels IPO is a mainboard issue worth around ₹183.06 crore. It consists entirely of fresh shares.
- The price band is ₹78 to ₹82 per share, and the lot size is 182 shares. The minimum investment is ₹14,924 at the upper price band.
- It will open on 29 October 2026 and close on 2 November 2026. The shares are expected to list on the BSE and NSE.
The Bombay Coated & Special Steels IPO is a book-building IPO aiming to raise an amount of approximately ₹183 crore. It will open on 29th October 2026 and close on 2nd November 2026. The price band is fixed at ₹78 to ₹82 for each share, with a face value of ₹10 per share. The amount of shares in a lot for the IPO is 182 shares, with a minimum investment of ₹14,924 at the upper price band. It consists of 2.23 crore fresh equity shares, with no offer for sale (OFS). The tentative allotment date is 3rd November 2026, refunds and demat share credits are scheduled for 4th November 2026, and tentative listing is expected on 5th November 2026 on both the BSE and NSE.
Bombay Coated & Special Steels IPO Key Details
The table below presents the essential details investors should know before applying for the Bombay Coated & Special Steels IPO.
| IPO Open Date | 29 October 2026 |
| Close Date | 02 November 2026 |
| Face value | ₹10 per share |
| Price Band | ₹78 to ₹82 |
| IPO Lot Size | 182 shares |
| Fresh issue | ₹183.06 crore |
| Offer for Sale | _ |
| Type of issue | Mainboard |
| Listing at | BSE and NSE |
| Total Issue Size (₹ Crore) | ₹183 cr approx |
| Minimum Investment | 1 lot (182 shares) |
Bombay Coated & Special Steels IPO Timeline
Below is the complete schedule of events for the Bombay Coated & Special Steels IPO.
| Bid Opening | 29 October 2026 |
| Bid Closing | 02 November 2026 |
| Tentative Allotment | 03 November 2026 |
| Initiation of Refunds | 04 November 2026 |
| Credit of Shares to Demat | 04 November 2026 |
| Tentative Listing Date | 05 November 2026 |
| UPI mandate closing date | 02 November 2026 |
Key Performance Indicators of Bombay Coated & Special Steels IPO
These financial ratios highlight the company’s profitability, capital efficiency, and overall financial performance over the past three financial years.
| 31-03-2026 | 31-03-2025 | 31-03-2024 | |
| ROE (%) | 29.92 | 41.76 | 48.20 |
| ROCE (%) | 16.40 | 18.78 | 18.60 |
| Debt Equity (in times) | 2.78 | 3.33 | 4.31 |
| RoNW (%) | 25.12 | 34.54 | 38.84 |
| PAT Margin (%) | 2.41 | 2.72 | 2.80 |
| Adjusted EBITDA margin (%) | 6.80 | 7.02 | 6.51 |
| Price to book | 2.70 | _ | _ |
Bombay Coated & Special Steels IPO Financial Details
The Financial information of the Bombay Coated & Special Steels IPO is as follows.
| FY 2025-2026 | FY 2024-2025 | FY 2023-2024 | |
| Revenue | 1,266.82 | 1,055.71 | 755.26 |
| Total Asset | 571.47 | 458.21 | 350.21 |
| Profit | 30.54 | 28.67 | 21.14 |
Bombay Coated & Special Steels IPO Subscription Status
The subscription data will be available once bidding begins.
Bidding is open from 10:00 AM to 5:00 PM on public issue days.
Bombay Coated & Special Steels IPO Grey Market Premium (GMP)
The current status of the Grey Market Premium for the Bombay Coated & Special Steels IPO shows a GMP of ₹9 with an estimated listing price of ₹91.
| GMP Date | GMP | Est. Listing Price on upper price-₹82.00 | Est. Profit* | Trend |
| 27-Oct 10:02 | ₹9 (10.98%) ─ | ₹91 | ₹1,638 | Stable |
| 26-Oct 23:37 | ₹9 (10.98%) ▲ | ₹91 | ₹1,638 | Stable |
| 25-Oct 23:37 | ₹8 (9.76%) ─ | ₹90 | ₹1,456 | Stable |
| 24-Oct 23:37 | ₹8 (9.76%) ─ | ₹90 | ₹1,456 | Stable |
| 23-Oct 23:37 | ₹8 (9.76%) ─ | ₹90 | ₹1,456 | Initial |
GMP is the premium value of the IPO share in the unofficial market before it opens for subscription.
Bombay Coated & Special Steels IPO Reservation
The following table shows the distribution of shares reserved for retail investors, QIBs, and NIIs under the IPO.
| Investor Category | Offered No. of Shares |
| QIBs | Not more than 50% of the issue |
| NIIs | Not less than 15% of the issue |
| Retails | Not less than 35% of the issue |
| Total | 100% |
Bombay Coated & Special Steels IPO Lot Sizes
Refer to the minimum and maximum investment requirements for each investor category as per the prescribed lot size.
| Application | Lot | Shares | Amount |
| Retail (Min) | 1 | 182 | ₹14,924 |
| Retail (Max) | 13 | 2,366 | ₹1,94,012 |
| sHNI (Min) | 14 | 2,548 | ₹2,08,936 |
| sHNI (Max) | 67 | 12,194 | ₹9,99,908 |
| bHNI (Min) | 68 | 12,376 | ₹10,14,832 |
Bombay Coated & Special Steels IPO Prospectus
Investors can access the offered prospectus for the Bombay Coated & Special Steels IPO mentioned below.
About Bombay Coated & Special Steels Ltd.
Bombay Coated & Special Steels Ltd. was incorporated in 2019 and took over the running business of Bombay Steels in 2021. The company buys steel coils and processes them into smaller coils, sheets and blanks of different sizes. It uses methods such as cutting, slitting, shearing and embossing to meet customer needs. Its products are mainly used in air conditioners, refrigerators, washing machines, automobiles and electrical equipment. The company operates four manufacturing facilities in Maharashtra, Rajasthan and Andhra Pradesh. It has also been an authorised service partner of JSW Steel Coated Products Limited since 2021.
Promoters:
- Vijaykumar Himatrai Gupta
- Nitin Vijaykumar Gupta
- Bhawna Nitin Gupta
| Book Runner | Smart Horizon Capital Advisors Pvt. Ltd. |
| Issue Registrar | Kfin Technologies Ltd. |
Objectives of Bombay Coated & Special Steels IPO
The objectives of the Bombay Coated & Special Steels IPO are given below.
| Particulars | Amount in ₹ crores |
| Funding towards acquisition of capital equipment | 15.77 |
| Prepayment and repayment of certain borrowings | 125.00 |
| General corporate purposes | _ |
| Total | _ |
Bombay Coated & Special Steels Ltd.- Strengths and benefits
- Relationship with JSW Steel: The company has been an authorised service partner of JSW Steel Coated Products Limited since 2021. This relationship supports its supply of steel coils, its main raw material.
- Different services: The company offers cutting, slitting, shearing and embossing services. This helps it supply steel products in different sizes according to customer needs.
- Own manufacturing facilities: Its four facilities in Maharashtra, Rajasthan and Andhra Pradesh help it serve customers in different regions and deliver products on time.
Bombay Coated & Special Steels Ltd- Risks and limitations
- Customer concentration: The company’s top 10 customers accounted for approximately 71.33%, 67.44%, and 67.43% of the company’s revenue in FY 2025–26, FY 2024-25, and FY 2023-24, respectively. Losing a major customer or receiving fewer orders could affect its earnings.
- High borrowings: The company’s debt-to-equity ratio was 2.78 times in FY 2025–26. Although it has declined over the past three years, the company still needs to manage its debt carefully.
- Impact of steel price change: Steel is the company’s main raw material. Any sharp rise in steel prices could increase its costs and reduce its profit margins.
Bombay Coated & Special Steels IPO Review
The Bombay Coated & Special Steels IPO is a mainboard IPO issue that is raising approximately ₹183.06 crore. It consists of fresh shares of around ₹183.06 crore and no offer-for-sale (OFS). The IPO will be open on 29th October 2026 and close on 2nd November 2026. The price band is ₹78 to ₹82 per share, with a face value of ₹10 and a lot size of 182 shares. At the upper price band of ₹82, the minimum requirement is ₹14,924 per lot. The tentative allotment date of the IPO is fixed at 3rd November 2026, while refunds and the credits to demat accounts are scheduled for 4th November 2026. The shares are expected to list on the BSE and NSE on 5th November 2026.
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Bombay Coated & Special Steels IPO FAQs
The Bombay Coated & Special Steels IPO is a public issue through which the company plans to raise around ₹183.06 crore by issuing new shares. It will use the funds mainly to repay loans, acquire capital equipment and meet general corporate expenses.
You can apply through a broker or bank that offers IPO services. Log in to your account, select the IPO, enter the number of lots and your bid price, and submit your application. If you apply through UPI, approve the payment mandate before the deadline.
The company has recorded growth in revenue and profit and has experience in steel processing. However, it depends heavily on one supplier and a few major customers. Investors should review its financial results, debt, business risks and IPO valuation before deciding whether to apply.
The IPO will open on 29 October 2026 and close on 2 November 2026.
The lot size is listed as 182 shares per lot. At the upper price band of ₹82 per share, one lot costs ₹14,924.
The tentative allotment date of the Bombay Coated & Special Steels IPO is 3 November 2026.
The shares are expected to list on the BSE and NSE on 5 November 2026.
