The Bombay Coated and Special Steels IPO listing price on the NSE was ₹91 on 5 November 2026. That is 10.98% above the issue price of ₹82. If you held one lot of 182 shares, it was worth ₹16,562 at the open. On paper that is a gain of ₹1,638.
How did the open compare with the GMP?
Before listing, the grey market pointed to +9.76% against the issue price. The shares opened +10.98%. The last GMP quote was ₹8 (9.76%), so the implied price was ₹90, and the open was ₹1 above that level.
GMP is an unofficial grey market number, not an exchange price. Our Bombay Coated and Special Steels IPO GMP page keeps the full history.
What our data shows
The GMP stayed between ₹7 and ₹9 from 30 October to 4 November. The book closed at 60.77 times on 2 November. A typical mainboard IPO this year got about 21 times.
Key numbers
| Item | Detail |
|---|---|
| Issue price | ₹82 |
| NSE listing price | ₹91 |
| Move at the open | +10.98% |
| Lot size | 182 shares |
| Issue size | ₹183.06 crore, all fresh shares |
| Lead manager | Smart Horizon Capital Advisors |
How demand looked before listing
Non-institutional investors bid 158.32 times their quota. Big institutions (QIBs) bid 35.5 times. Retail investors bid 33.73 times. Overall, the issue was subscribed 60.77 times.
What the company does
Bombay Coated turns raw steel coils into slit coils, blanks and sheets at four plants. Appliance makers buy most of its output. It made a profit of ₹30.54 crore on income of ₹1,269.83 crore in FY2026.
Of the money raised, ₹125 crore goes to repay borrowings. Another ₹18 crore finances leased equipment. Its borrowings were ₹338.45 crore on 31 March 2026.
What to keep in mind about the open
The opening price is only the first trade of the day. The price can move a lot in the hours after. Paper gains or losses at the open are not final until you sell.
The company has risks too. Its top ten customers gave about 67% of FY2025 revenue. One supplier gave about 91% of its steel coils. Debt is high compared with net worth.
Smart Horizon Capital Advisors ran the issue. In our records, 8 of its 12 earlier IPOs opened higher than their issue price, and the average gain at the open was 0.3%.
What happens next
Shares trade on both BSE and NSE from 5 November 2026. Past listings are on our IPO performance page. The Bombay Coated and Special Steels IPO page shows the live price once trading starts.
