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Bombay Coated and Special Steels Ltd IPO

Bombay Coated and Special Steels Ltd IPO

We are a steel processing centre engaged in the business of converting steel coils into value-added processed steel products. Our core competencies include precision slitting, cut-to-length processing, shearing, and embossing of steel coils into slit coils and blanks/sheets (collectively referred to as Processed Steel Products). We cater to a diversified customer base comprising Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs). Our Company, being a Steel Processing Centre (SPC), operates as an intermediary between primary steel producers and end-users by providing value-added processing services.

Bombay Coated and Special Steels Ltd IPO Details

Total Shares Offered

₹ 2,23,24,024

Offer to Public

TBA

Retail Max (Shares)

₹ 78,13,408

Pre Issue Promoters Holding

₹ 3,95,99,920

Exchange

BSE

Issue size

₹ 183.06 Cr

IPO Open Date

Oct 29, 2026

Close Date

Nov 2, 2026

Lot Size

182

Min Investment

₹ 14,196

Issue Type

Book Building

Listing Date

Nov 5, 2026

Bombay Coated and Special Steels Ltd IPO Dates

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Oct 29, 2026
Opening date
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Nov 2, 2026
Closing date
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Nov 3, 2026
Basis of Allotment
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Nov 4, 2026
Initiation of Refunds
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Nov 4, 2026
Credit of Shares
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Nov 5, 2026
Listing date

Details

SectorType
SectorSteel - Medium
Sub SectorSmall
Issue TypeBook Building

Subscription Status

*Values are in Lakhs

Investor Type

QIB
NII
Retail
Employee
Total

Bombay Coated and Special Steels Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)
Particulars (in Rs. Crores)FY23FY22FY21
Revenue from operations53.3945.7933.36
EBITDA65.9954.4238.51
PAT30.5428.6721.14
Total Assets385.89299.97233.81
Share Capital40.509.909.90
Total Borrowings363.67288.70243.77
Operating Activities (Net Cash)43.1437.3026.29
Investing Activities (Net Cash)-5.45-5.470.00
Financing Activities (Net Cash)363.67288.70243.77
Net Cashflow19.2514.6619.60

About Bombay Coated and Special Steels Ltd

Our Company was originally incorporated as `Bombay Coated and Special Steels Private Limited', a private limited company under the provisions of Companies Act, 2013 at Mumbai, Maharashtra, pursuant to a certificate of incorporation dated December 26, 2019, issued by Assistant Registrar of Companies, Central Registration Centre at Manesar, Haryana for and on behalf of the Jurisdictional Registrar of Companies, Mumbai at Maharashtra (RoC). Further, pursuant to Business Transfer Agreement dated January 29, 2021 (BTA) with Mr. Vijaykumar Himatrai Gupta, proprietor of M/s. Bombay Steels, Our Company acquired the running business of Bombay Steels. Thereafter, our Company was converted into a public limited company pursuant to a board resolution dated January 21, 2025 and a special resolution passed by our Shareholders dated January 22, 2025 and consequently, the name of our Company was changed to `Bombay Coated and Special Steels Limited'. A fresh certificate of change of name, consequent upon conversion to a public limited company was issued by Registrar of Companies, Central Processing Centre, Manesar, Haryana on February 14, 2025.

The market size of Global Steel Processing Centre Industry grew at a CAGR of 6.3% from CY20 to CY25 reaching an estimated market size of USD 215.3 billion by CY25. It is further projected to grow at a CAGR of 6.3% from CY25 to CY30 reaching market size of USD 292.3 billion by CY30. The market size of the global Steel Processing Centre industry in India has grown at a CAGR of 8.6% from CY20 to CY25 reaching an estimated market size of USD 8.2 billion by CY25. It is further projected to grow at a CAGR of 8.7% from CY25 to CY30, reaching a market size of USD 12.4 billion by CY30.

We are a steel processing centre engaged in the business of converting steel coils into value-added processed steel products. Our core competencies include precision slitting, cut-to-length processing, shearing, and embossing of steel coils into slit coils and blanks/sheets (collectively referred to as Processed Steel Products). We cater to a diversified customer base comprising Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs). Our Company, being a Steel Processing Centre (SPC), operates as an intermediary between primary steel producers and end-users by providing value-added processing services.

Peer Comparison:

  • Bombay Coated & Special Steels Ltd
  • BMW Industries Limited
  • Manaksia Coated Metals & Industries Limited
  • Shiv Aum Steels Limited

Bombay Coated and Special Steels Ltd Key Points

Strengths

Established relationship with JSWSCPL Steel for supply of Steel Coils.

Long-standing relationships with customers, including OEMs and ODMs.

Strategically Located Manufacturing Network Enabling Just-in-Time Supply and Cost-Efficient Operations.

Integrated and Advanced Steel Processing Infrastructure.

High Entry Barriers Driven by Authorised Supplier Arrangements, Capital Intensity and Customer Approvals.

Risk

The company is substantially dependent on a single supplier, JSW Steel Coated Products Limited and/or its holding the Company (JSWSCPL), for the supply of steel coils, which constitute a key raw material for its operations. For the three months period ended June 30, 2026, and for the Fiscal 2026, Fiscal 2025 and Fiscal 2024, the company sourced approximately 85.13%, 86.65%, 90.61% and 84.58%, respectively, of its total steel coil requirements from JSWSCPL. This high level of supplier concentration exposes it to significant risks, and any disruption in the supply of steel coils from JSWSCPL could materially and adversely affect the company's business, results of operations and financial condition.

The company has experienced certain discrepancies in its statutory filings with the Registrar of Companies (RoC) and other non-compliances under the Companies Act, 2013 in the past. The company cannot assure that regulatory authorities will not initiate inquiries, proceedings or other actions against it in the future. Any such proceedings or actions, if initiated, may result in the imposition of penalties, fines or other regulatory measures, which could adversely affect the company's business, financial condition, results of operations and reputation.

The company has experienced negative cash flows from investing and financing activities in the past and may continue to experience negative cash flows in the future, which could adversely affect its liquidity, financial condition and ability to operates the company's business and implement its growth plans.

Strategy

Strategy to Expand Customer Base and Diversify End-User Industries.

Expansion of our existing Ghiloth Facility to capitalize on industry opportunities.

Improving the debt profile of our Company.

Increase our geographical presence and international markets.

Continue to reduce operational costs and improve operational efficiencies.

How To Apply for Bombay Coated and Special Steels Ltd IPO Online?

Step 1:

Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Bombay Coated and Special Steels Ltd IPO?

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Bombay Coated and Special Steels Ltd's IPO offers shares for up to 183.06 It begins on Oct 29, 2026 and ends on Nov 2, 2026.

What is the price of the Bombay Coated and Special Steels Ltd IPO?

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The price of Bombay Coated and Special Steels Ltd IPO ranges between ₹78 to ₹82 per share.

What are the open and close dates for the Bombay Coated and Special Steels Ltd IPO?

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The Bombay Coated and Special Steels Ltd IPO opens on Oct 29, 2026 and closes on Nov 2, 2026.

When will the Bombay Coated and Special Steels Ltd IPO be allotted?

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The allotment for the Bombay Coated and Special Steels Ltd IPO will be finalised on Nov 3, 2026. The shares will be listed on BSE and NSE on Nov 5, 2026.

What is the minimum lot size required for Bombay Coated and Special Steels Ltd IPO?

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The minimum lot size for Bombay Coated and Special Steels Ltd IPO is 182 shares, priced between ₹78 to ₹82 per share.

What is the GMP of Bombay Coated and Special Steels Ltd IPO?

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The GMP (Grey Market Premium) of Bombay Coated and Special Steels Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Bombay Coated and Special Steels Ltd IPO?

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To check the allotment status of Bombay Coated and Special Steels Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Bombay Coated and Special Steels Ltd IPO getting listed?

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The Bombay Coated and Special Steels Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Oct 29, 2026, and closes on Nov 2, 2026. The allotment is finalised on Nov 3, 2026.

How do you apply for the Bombay Coated and Special Steels Ltd IPO?

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To apply for the Bombay Coated and Special Steels Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.