Bombay Coated & Special Steels IPO Makes Strong Stock Market Debut At 12.21% Premium, ₹183 Crore Issue Attracts 60.77 Times Subscription

Mumbai: Bombay Coated & Special Steels Limited made a positive stock market debut on Thursday, November 5, 2026, with its shares listing at a premium of over 12 per cent against the initial public offering (IPO) price of ₹82 per share. The company's ₹183 crore public issue had received strong investor interest, attracting subscriptions of more than 60 times during the bidding period.

Listing Performance

Bombay Coated & Special Steels shares opened at ₹92.02 on the Bombay Stock Exchange (BSE), representing a 12.21 per cent premium over the issue price. On the National Stock Exchange (NSE), the stock debuted at ₹91, marking a listing gain of 10.97 per cent. The company's market capitalisation stood at approximately ₹600.85 crore following its market debut.

IPO Subscription

The ₹183 crore IPO was subscribed 60.77 times on the final day of bidding on Monday. The public issue had a price band of ₹78 to ₹82 per equity share. The offering consisted entirely of fresh equity shares, with proceeds intended for debt repayment, equipment acquisition and corporate requirements.

Fund Utilisation

Of the total IPO proceeds, ₹125 crore has been earmarked for prepayment of certain outstanding borrowings. Another ₹15.7 crore will finance the acquisition of capital equipment under existing lease arrangements with Siemens Financial Services. The remaining funds will be used for general corporate purposes.

Company Operations

Established in 2019, Bombay Coated & Special Steels operates as a steel processing company. It converts steel coils into value-added products through slitting, shearing, embossing and cut-to-length processing.

Industry Presence

The company supplies processed steel products to original equipment manufacturers and original design manufacturers. Its customers operate across consumer durables, home appliances, automotive, electrical equipment and infrastructure sectors.

Manufacturing Network

Bombay Coated & Special Steels operates manufacturing facilities in Maharashtra, Rajasthan and Sri City in Andhra Pradesh. Following its stock market listing, investors will monitor debt reduction, manufacturing operations and business growth.

Disclaimer: This report is based on IPO disclosures and stock exchange information. Investors should independently assess market risks before investing.