Bombay Coated & Special Steels IPO – Revenue Strong, IPO is OFS Only
IPO Details: • OFS: 1.5 crore shares (no fresh issue) • Company will not receive funds, only promoters will sell shares Bombay Coated is one of India’s leading steel processors, with a 3.5 lakh tonnes per year capacity. It converts steel coils into processed products and posted ₹1,056 crore revenue with ₹28.6 crore profit in FY25. The company’s strong revenue base and established operations are positives, supported by steady demand in infrastructure and construction. The major drawback, however, is that this IPO is entirely an OFS, meaning the business itself will not benefit financially. Additionally, the steel sector is vulnerable to price swings, global demand changes, and intense competition. 📌 Likely Category Post-Listing: Midcap steel sector stock