The Bombay Coated IPO will open for subscription on October 29, 2026, with a price band of ₹78–82 per share, Bombay Coated and Special Steels Ltd announced on October 23. The ₹183.1-crore offering consists entirely of newly issued shares and is scheduled to close on November 2.
Key Takeaways
- The offer is entirely a fresh issue, with no sale of existing shareholders’ shares.
- The company plans to use ₹125 crore to repay or prepay certain borrowings.
- The steel processor reported FY26 revenue of ₹1,266.8 crore and net profit of ₹30.5 crore.
Table of Contents
- Bombay Coated IPO terms and subscription window
- Debt repayment is the main use of proceeds
- Steel-processing operations and recent earnings
- Conclusion
Bombay Coated IPO terms and subscription window
The subscription window runs from October 29 through November 2, 2026. Because the offering comprises only fresh equity, it will raise capital for the company rather than generate proceeds for selling shareholders.
The company said at least 50% of the offer would be reserved for qualified institutional buyers, at least 15% for non-institutional investors and at least 35% for retail individual investors.
Smart Horizon Capital Advisors is the book-running lead manager, while KFin Technologies is the registrar to the issue.
| Item | Details |
|---|---|
| FY26 revenue from operations | ₹1,266.8 crore |
| FY26 net profit | ₹30.5 crore |
| Revenue from operations, three months ended June 30, 2026 | ₹397 crore |
| Net profit, three months ended June 30, 2026 | ₹15 crore |
Debt repayment is the main use of proceeds
Bombay Coated has earmarked ₹125 crore for repayment or prepayment of certain borrowings. That represents roughly 68% of the announced issue size, making debt reduction the largest specified use of the fundraising.
A further ₹15.7 crore is intended to finance the acquisition of capital equipment under existing lease arrangements with Siemens Financial Services. The remaining amount is designated for general corporate purposes.
These are planned uses of the fresh-issue proceeds, not completed repayments or equipment purchases.
Steel-processing operations and recent earnings
Incorporated in 2019, Bombay Coated processes steel coils through slitting, cut-to-length processing, shearing and embossing. Its customers include original equipment manufacturers and original design manufacturers serving consumer durables, home appliances, automotive, electrical equipment, refrigeration, infrastructure and general engineering.
The company’s steel-processing business overview describes its work for automotive and appliance customers and its role as an authorised JSW service partner. This places the business between steelmakers supplying coils and manufacturers using processed steel.
Its facilities are located at Wada and Bhiwandi in Maharashtra, Ghiloth in Rajasthan and Sri City in Andhra Pradesh. Together, they had installed processing capacity of 123,153 metric tonnes per annum as of June 30, 2026.
The financial figures below cover FY26 and the three months ended June 30, 2026. The quarterly results represent a shorter reporting period and should not be treated as a full-year forecast.
Conclusion
The next scheduled step for the Bombay Coated IPO is the opening of subscriptions on October 29, 2026, followed by the November 2 closing date. The proposed fundraising is primarily directed at reducing borrowings.
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