Bombay Coated And Special Steels IPO Opens October 29, Rs 183.1 Crore Public Issue Price Band Fixed At Rs 78–82 Per Share

Mumbai: Bombay Coated and Special Steels Ltd announced that its initial public offering (IPO) for Rs 183.1 crore will begin subscription on October 29, with a price range set between Rs 78 and Rs 82 per share. The public offering will remain open until November 2, allowing investors to potentially benefit from the steel processing company's growth plans. The Securities and Exchange Board of India (SEBI) has approved the IPOs of Bonfiglioli Transmissions, Bombay Coated & Special Steels, and Swaraj Green Power.

The IPO consists entirely of fresh equity shares, ensuring the funds raised will directly bolster the company's coffers. Allocation is structured as follows: 50% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. Smart Horizon Capital Advisors is acting as the book-running lead manager, while KFin Technologies serves as the registrar.

Bombay Coated and Special Steels intends to utilize Rs 125 crore of the IPO proceeds to repay or prepay existing debts. An additional Rs 15.7 crore will be allocated to acquire capital equipment that is presently leased through Siemens Financial Services. The remaining funds will cater to general corporate needs.

Established in 2019, the company specializes in processing steel coils into value-added products via slitting, shearing, embossing, and cut-to-length operations. Its products cater to sectors including automotive, consumer durables, electrical equipment, refrigeration, infrastructure, and engineering. The manufacturing facilities are situated in Maharashtra, Rajasthan, and Andhra Pradesh, with a combined annual processing capacity of 1,23,153 metric tonnes.

In the fiscal year 2026 (FY26), the company reported revenue from operations of Rs 1,266.8 crore and a net profit of Rs 30.5 crore. For the June 2026 quarter, revenue amounted to Rs 397 crore, while the net profit reached Rs 15 crore. The upcoming IPO aims to help the company reduce debt and enhance its financial standing.