Bombay Coated & Special Steels Raises ₹54.1 Crore From Six Anchor Investors At ₹82 Per Share; IPO Opens Today

Bombay Coated & Special Steels has raised ₹54.1 crore from six anchor investors ahead of its initial public offering (IPO), which opened for subscription on 29 October 2026. The company aims to raise ₹183.06 crore through the public issue.

The company allotted 65.97 lakh shares to the anchor investors at ₹82 per share on 28 October 2026, a day before the IPO opened. The allotment was made at the upper end of the issue’s price band of ₹78 to ₹82 per share.

Bombay Coated & Special Steels IPO: Anchor Investor Allocation And Key Details

Anchor investors are institutional investors who receive an allocation just before an IPO opens to the public. Their participation gives an early indication of institutional interest in the issue.

IMAP India Capital Investment Trust was the biggest investor, subscribing to shares worth ₹20 crore through its Catalyst New India Fund. LRSD Capital invested ₹14.08 crore, while Aarth AIF Growth Fund, Ekamya Pragati Scheme-I, Amitsg Ventures Trust and Religo Commodities Ventures Fund invested ₹5 crore each.

The Bombay Coated & Special Steels IPO is entirely a fresh issue of shares, so the proceeds will go to the company rather than existing shareholders selling their stakes. The issue closes on 2 November 2026, with listing scheduled for 5 November 2026 on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Smart Horizon Capital Advisors is managing the issue, while KFin Technologies is the registrar.

Where Will The IPO Money Go?

Debt repayment accounts for the biggest share of the planned proceeds. Bombay Coated & Special Steels will use ₹125 crore to repay or prepay some of its borrowings. Its outstanding borrowings stood at ₹302.4 crore as of August 2026.

Another ₹15.7 crore will go towards acquiring capital equipment under existing lease arrangements with Siemens Financial Services. The balance will be used for general corporate purposes.

What Does Bombay Coated & Special Steels Do?

The company processes steel coils into products such as slit coils, blanks and sheared steel sheets. These are used by manufacturers in industries ranging from home appliances and automobiles to electrical equipment, refrigeration and general engineering.

It operates four manufacturing facilities in Wada and Bhiwandi in Maharashtra, Ghiloth in Rajasthan, and Sri City in Andhra Pradesh. Since 2021, it has also worked as an authorised service partner of JSW Steel Coated Products, sourcing steel coils and processing them for customers.

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