Bombay Coated and Special Steels IPO

The Bombay Coated and Special Steels mainboard IPO runs from 29 Oct 2026 to 2 Nov 2026, offered at a price band yet to be finalised, and is set to list on NSE and BSE. The company is looking to raise ₹183.06 crore through the offer.

Issue structure

The IPO is structured entirely as a fresh issue of ₹183.06 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward repayment/pre-payment, in full or in part, of certain borrowings availed by company (₹125 crore), alongside financing the cost towards acquisition of capital equipment under existing lease arrangements with siemens financial services pvt.ltd. (₹15.77 crore). In all, 3 objects are disclosed — the full break-up is in the table above.

Financials

In FY2026, Bombay Coated and Special Steels reported revenue of ₹397.55 crore and a net profit of ₹15.08 crore. Revenue declined from ₹765.41 crore in FY2024 to ₹397.55 crore in FY2026 (-48.0%). Net worth stood at ₹136.62 crore at the end of FY2026.

Peer comparison

The offer document names listed peers including Bmw Industries Ltd. and Manaksia Coated Metals & Industries Ltd., with a median peer P/E of about 31×.

Promoters

The promoters of the company are <p>Vijaykumar Himatrai Gupta, Nitin Vijaykumar Gupta, Bhawna Nitin Gupta</p>. Promoter holding is 97.78% before the issue.

Grey market premium (GMP)

In the unofficial grey market, Bombay Coated and Special Steels shares are quoted at a premium of ₹0. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

What to weigh

When evaluating the Bombay Coated and Special Steels IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About Bombay Coated and Special Steels

Bombay Coated &amp; Special Steels is one of India&rsquo;s leading steel processing centres. Its main business is converting steel coils into high-quality processed steel products like slit coils, blanks, and sheets. The company specializes in slitting, cut-to-length, shearing, and embossing. Its products are used by Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs) across various industries, including home and commercial appliances (like air conditioners, refrigerators, washing machines, water heaters), and general engineering (such as automotive components, electrical parts, cleanrooms, and ventilation systems). The company has been an authorised service partner of JSW Steel Coated Products Limited since 2021, from whom it source steel coils. It also buy from other suppliers and process the material using modern machinery to meet customer specifications. The company has processing units in Wada, Bhiwandi, Ghiloth and Sricity, covering 42,209 sq. meters. Its Rajasthan unit is GEM 4-certified for green manufacturing. The company's current installed capacity for slitting, cut-to-length, shearing, and embossing stood at 350,411 MTPA. As of July 31, 2025, its workforce comprised 153 permanent employees. Business Strengths Established relationship with JSWCPL Steel for supply of Steel Coil. Strategically located manufacturing facilities. Existing setup with high precision manufacturing operations. Long-term relationships with customers, including OEMs and ODMs. High entry barriers due to supplier arrangements. Experienced Promoters and professional management team.