Mumbai: Bombay Coated and Special Steels Ltd has announced that its Rs 183.1 crore initial public offering (IPO) will open for subscription on October 29, with the price band fixed at Rs 78–82 per equity share.
The public issue will remain open until November 2, offering investors an opportunity to participate in the steel processing company's expansion.
Bombay Coated And Special Steels IPO Details
The IPO comprises entirely fresh equity shares, meaning the proceeds will go directly to the company. Under the allocation structure, 50 per cent of the issue is earmarked for Qualified Institutional Buyers (QIBs), 15 per cent for Non-Institutional Investors (NIIs) and 35 per cent for retail investors. Smart Horizon Capital Advisors is the book-running lead manager, while KFin Technologies is the registrar.
How Will The Company Use IPO Proceeds?
Bombay Coated and Special Steels plans to utilise Rs 125 crore towards repayment or prepayment of existing borrowings. Another Rs 15.7 crore will finance the acquisition of capital equipment currently held under lease arrangements with Siemens Financial Services. The remaining proceeds will support general corporate requirements.
Bombay Coated And Special Steels Business Overview
Established in 2019, the company processes steel coils into value-added products through slitting, shearing, embossing and cut-to-length operations. It serves automotive, consumer durables, electrical equipment, refrigeration, infrastructure and engineering industries. Its manufacturing facilities are located in Maharashtra, Rajasthan and Andhra Pradesh, with a combined annual processing capacity of 1,23,153 metric tonnes.
Company's Financial Performance
During FY26, Bombay Coated and Special Steels reported revenue from operations of Rs 1,266.8 crore and net profit of Rs 30.5 crore. For the June 2026 quarter, revenue stood at Rs 397 crore, while net profit reached Rs 15 crore. The upcoming IPO will support debt reduction and strengthen the company's financial position.
