The Bombay Coated and Special Steels IPO opens for bids on 29 October and closes on 2 November. The company is raising ₹183.06 crore, all of it a fresh issue. The price band has not been announced yet, according to a Moneycontrol report.
Key dates
| Event | Date |
|---|---|
| Anchor book (one day) | 28 October |
| IPO opens | 29 October |
| IPO closes | 2 November |
| Allotment | 3 November |
| Refunds and demat credit | 4 November |
| Listing on BSE and NSE | 5 November |
The anchor book is the day when large institutions buy shares before the public issue opens. Allotment and listing dates are from our IPO page, and the report gives the same listing date.
What does the company do?
Bombay Coated and Special Steels is a steel processing centre. It buys steel coils from primary producers and cuts them into slit coils, blanks and sheets. Its customers are mainly makers of home and commercial appliances. It is promoted by Vijaykumar Himatrai Gupta.
For the year ended March 2026, profit rose 6.5% to ₹30.5 crore. Revenue rose 20% to ₹1,266.8 crore. For the three months to June 2026, it reported a profit of ₹15 crore on revenue of ₹397 crore.
Where will the money go?
The issue was ₹191 crore in the draft offer document, refiled in January 2026 and cleared by SEBI in June 2026. It has since been trimmed to ₹183.06 crore.
- ₹125 crore of the net proceeds will repay debt. Borrowings were ₹302.4 crore as of August 2026.
- ₹15.7 crore will buy capital equipment now held under lease from Siemens Financial Services.
- The rest goes to general corporate purposes.
Since the issue is fresh only, all the money goes to the company. Nothing goes to selling shareholders.
What our data shows
At ₹183.06 crore, this is the 85th largest of 105 mainboard IPOs in 2026. Of the 102 mainboard IPOs listed this year, 68 opened above their issue price, and the median listing gain is 6.92%. The lead manager, Smart Horizon Capital Advisors, has 10 earlier listings on our records. Seven opened above the issue price, and the average listing gain was -0.9%. That is a record, not a forecast. See listing performance of past IPOs for the full table.
What happens next
The price band, lot size and minimum investment will be known once the company announces them, a few days before 28 October. We will update the figures on the IPO page then. KFin Technologies is the registrar.
Details are in the Moneycontrol report.
