Bombay Coated And Special Steels IPO Opens On 29 October To Raise ₹183 Crore, With ₹125 Crore Earmarked For Debt Repayment
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Bombay Coated and Special Steels will launch an IPO from 29 October to 2 November 2026. The company plans to use the net proceeds to repay debt and acquire capital equipment under existing lease arrangements. Read more.
Steel processing company, Bombay Coated and Special Steels, is preparing to enter the capital markets with its initial public offering (IPO).
The issue size has been reduced to ₹183.06 crore from the ₹191 crore proposed in the draft offer document. The Securities and Exchange Board of India (SEBI) approved the offer in June 2026 after the document was refiled in January 2026.
Bombay Coated And Special Steels IPO Details
Bombay Coated and Special Steels IPO is scheduled to open on 29 October 2026. It will close on 2 November 2026.
The anchor investor book is scheduled to open for one day on 28 October 2026. Trading in the company’s shares is expected to begin on the stock exchanges on 5 November 2026.
The Bombay Coated and Special Steels IPO consists entirely of a fresh issue. The company had not announced the price band at the time of the source report, so the final price per share and minimum investment amount were not yet available.
Smart Horizon Capital Advisors has been appointed as the merchant banker managing the IPO.
Usage Of IPO Proceeds
The company plans to allocate ₹125 crore of the net proceeds towards debt repayment. Its outstanding borrowings stood at ₹302.4 crore as of August 2026.
A further ₹15.7 crore is earmarked for acquiring capital equipment under existing lease arrangements with Siemens Financial Services.
The remaining funds will be used for general corporate purposes.
About Bombay Coated And Special Steels
The company operates as a steel processing centre, converting steel coils into value-added processed products. It serves as an intermediary between primary steel producers and end-users. Vijaykumar Himatrai Gupta is the promoter of the company.
The company reported ₹397 crore of revenue and ₹15 crore of profit for the quarter ended June 2026. For the full financial year ended March 2026, revenue rose 20% year-on-year (YoY) to ₹1,266.8 crore. Profit also increased by 6.5% to ₹30.5 crore.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Neha Dubey has spent 6+ years turning market chaos into something readable. At Kotak Neo, she works on IPOs and writes for the Market Ready newsletter — making sense of the markets so you don't have to.
Off the clock, she's chasing good stories, new cuisines, and the occasional impromptu singalong. A believer in small pleasures, with excellent taste for a well-timed splurge.
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