{"id":324915,"date":"2026-10-23T08:55:48","date_gmt":"2026-10-23T03:25:48","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=324915"},"modified":"2026-10-23T08:55:48","modified_gmt":"2026-10-23T03:25:48","slug":"bombay-coated-special-steels-initial-public-offering-review","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/","title":{"rendered":"Bombay Coated and Special Steels IPO Review: Key Details, Company Overview and Financials"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Bombay Coated and Special Steels IPO opens 29 Oct, closes 2 Nov 2026. Fresh issue Rs 183.06 Cr. Lists 5 Nov on BSE and NSE. Price band to be announced.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The Bombay Coated and Special Steels IPO is a Rs 183.06 crore fresh issue, open from 29 October to 2 November 2026, with listing proposed on BSE and NSE on 5 November. The company processes steel coils into slit coils, blanks and sheets for appliance makers, and Rs 125 crore of the proceeds is meant to repay debt. FY26 revenue rose 20 percent to Rs 1,266.8 crore but profit grew only 6.5 percent to Rs 30.5 crore, a thin margin of about 2.4 percent, and the price band had not been announced in the sources reviewed.<\/p>\n<\/p><\/div>\n<p>The Bombay Coated and Special Steels IPO is a bookbuilding issue consisting entirely of a fresh issue aggregating Rs 183.06 crore, trimmed from Rs 191 crore in the draft filing, with no offer for sale. Anchor bidding is on 28 October. The issue opens on 29 October 2026 and closes on 2 November 2026. Allotment is expected on 3 November, refunds and demat credit on 4 November, and the shares are proposed to list on BSE and NSE on 5 November 2026.<\/p>\n<p>The price band, lot size and category quota were not available in the sources reviewed, so the minimum application amount cannot be stated yet. All proceeds go to the company, subject to issue expenses, since there is no offer for sale.<\/p>\n<p>Smart Horizon Capital Advisors Pvt. Ltd. is the book-running lead manager for the Bombay Coated and Special Steels issue, and KFin Technologies Ltd. is the registrar.<\/p>\n<p>For detailed information on the company&#8217;s business, financials, risk factors and the use of proceeds, investors should refer to the Bombay Coated and Special Steels Red Herring Prospectus (RHP) before making an investment decision.<\/p>\n<p style=\"margin-top:24px;\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Company_Overview\" title=\"Company Overview\">Company Overview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#IPO_Details\" title=\"IPO Details\">IPO Details<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Industry_Context\" title=\"Industry Context\">Industry Context<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Business_Strengths\" title=\"Business Strengths\">Business Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Business_Risks\" title=\"Business Risks\">Business Risks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Financial_Performance\" title=\"Financial Performance\">Financial Performance<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Bombay_Coated_and_Special_Steels_Ltd_%E2%80%93_Financials_Rs_in_Crore\" title=\"Bombay Coated and Special Steels Ltd. &#8211; Financials (Rs in Crore)\">Bombay Coated and Special Steels Ltd. &#8211; Financials (Rs in Crore)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Key_Ratios_and_Metrics\" title=\"Key Ratios and Metrics\">Key Ratios and Metrics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Objects_of_the_Offer\" title=\"Objects of the Offer\">Objects of the Offer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#FAQs\" title=\"FAQs\">FAQs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#When_does_the_Bombay_Coated_and_Special_Steels_IPO_open_and_close\" title=\"When does the Bombay Coated and Special Steels IPO open and close?\">When does the Bombay Coated and Special Steels IPO open and close?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#What_is_the_price_band_and_minimum_investment_for_the_Bombay_Coated_and_Special_Steels_IPO\" title=\"What is the price band and minimum investment for the Bombay Coated and Special Steels IPO?\">What is the price band and minimum investment for the Bombay Coated and Special Steels IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#What_does_Bombay_Coated_and_Special_Steels_do\" title=\"What does Bombay Coated and Special Steels do?\">What does Bombay Coated and Special Steels do?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Is_the_Bombay_Coated_and_Special_Steels_IPO_a_fresh_issue_or_an_offer_for_sale\" title=\"Is the Bombay Coated and Special Steels IPO a fresh issue or an offer for sale?\">Is the Bombay Coated and Special Steels IPO a fresh issue or an offer for sale?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#How_will_Bombay_Coated_and_Special_Steels_use_the_IPO_money\" title=\"How will Bombay Coated and Special Steels use the IPO money?\">How will Bombay Coated and Special Steels use the IPO money?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#How_has_Bombay_Coated_and_Special_Steels_performed_financially\" title=\"How has Bombay Coated and Special Steels performed financially?\">How has Bombay Coated and Special Steels performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Is_the_Bombay_Coated_and_Special_Steels_IPO_expensive\" title=\"Is the Bombay Coated and Special Steels IPO expensive?\">Is the Bombay Coated and Special Steels IPO expensive?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#What_are_the_main_risks_in_the_Bombay_Coated_and_Special_Steels_IPO\" title=\"What are the main risks in the Bombay Coated and Special Steels IPO?\">What are the main risks in the Bombay Coated and Special Steels IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Who_are_the_lead_manager_and_registrar_for_the_Bombay_Coated_and_Special_Steels_IPO\" title=\"Who are the lead manager and registrar for the Bombay Coated and Special Steels IPO?\">Who are the lead manager and registrar for the Bombay Coated and Special Steels IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/bombay-coated-special-steels-initial-public-offering-review\/#Is_the_Bombay_Coated_and_Special_Steels_IPO_a_good_investment\" title=\"Is the Bombay Coated and Special Steels IPO a good investment?\">Is the Bombay Coated and Special Steels IPO a good investment?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Company_Overview\"><\/span><strong>Company Overview<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bombay Coated and Special Steels Limited runs a steel processing centre. It buys steel coils and cuts them into slit coils, blanks and sheets, mainly for makers of home and commercial appliances. The company has been reported to have an alliance with JSW Steel and a client base that includes appliance makers such as Haier and IFB, which makes its sales depend heavily on the appliance cycle.<\/p>\n<p>The promoter is Vijaykumar Himatrai Gupta. Borrowings were Rs 302.4 crore as of August 2026, which is why repaying debt is the largest use of the fresh issue. Details of the share count before and after the issue and the promoter holding after listing were not available in the sources reviewed.<\/p>\n<p><em>Read on for the complete Bombay Coated and Special Steels IPO details, including dates, issue structure, listing timeline and the company&#8217;s financial track record.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"IPO_Details\"><\/span><strong>IPO Details<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Particulars<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Details<\/th>\n<\/tr>\n<tr>\n<td>Anchor Bidding<\/td>\n<td>28 October 2026<\/td>\n<\/tr>\n<tr>\n<td>IPO Date<\/td>\n<td>29 October to 2 November 2026<\/td>\n<\/tr>\n<tr>\n<td>Allotment<\/td>\n<td>Tue, 3 November 2026 (tentative)<\/td>\n<\/tr>\n<tr>\n<td>Refunds and Demat Credit<\/td>\n<td>Wed, 4 November 2026 (tentative)<\/td>\n<\/tr>\n<tr>\n<td>Listing Date<\/td>\n<td>Thu, 5 November 2026 (tentative)<\/td>\n<\/tr>\n<tr>\n<td>Price Band<\/td>\n<td>Not announced in the sources reviewed<\/td>\n<\/tr>\n<tr>\n<td>Lot Size<\/td>\n<td>Not announced in the sources reviewed<\/td>\n<\/tr>\n<tr>\n<td>Face Value<\/td>\n<td>Not announced in the sources reviewed<\/td>\n<\/tr>\n<tr>\n<td>Issue Type<\/td>\n<td>Bookbuilding IPO<\/td>\n<\/tr>\n<tr>\n<td>Sale Type<\/td>\n<td>Fresh Issue only (no OFS)<\/td>\n<\/tr>\n<tr>\n<td>Total Issue Size<\/td>\n<td>Rs 183.06 Cr (Rs 191 Cr in the draft)<\/td>\n<\/tr>\n<tr>\n<td>Quota (QIB \/ NII \/ Retail)<\/td>\n<td>Not announced in the sources reviewed<\/td>\n<\/tr>\n<tr>\n<td>Promoter<\/td>\n<td>Vijaykumar Himatrai Gupta<\/td>\n<\/tr>\n<tr>\n<td>Listing Exchange<\/td>\n<td>BSE and NSE<\/td>\n<\/tr>\n<tr>\n<td>Lead Manager<\/td>\n<td>Smart Horizon Capital Advisors<\/td>\n<\/tr>\n<tr>\n<td>Registrar<\/td>\n<td>KFin Technologies<\/td>\n<\/tr>\n<\/table>\n<p><em>(Compiled from the DRHP\/RHP and market updates)<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Industry_Context\"><\/span><strong>Industry Context<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Steel service centres sit between steel mills and manufacturers, cutting coils to the exact size and grade a factory needs, so they earn processing margins on top of the steel price.<\/li>\n<li>Appliance makers such as refrigerator, washing machine and air conditioner brands buy cut-to-size steel in large volumes, so demand follows consumer durables sales.<\/li>\n<li>Margins in steel processing are thin because steel prices are volatile and customers negotiate hard, so scale, working capital and supplier ties matter.<\/li>\n<li>These businesses carry large inventories and receivables, and debt usually funds the stock, so interest cost can take a large share of profit.<\/li>\n<li>Investors usually track volume processed, spread per tonne, working capital days and debt rather than revenue alone.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Business_Strengths\"><\/span><strong>Business Strengths<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Here are the key strengths investors evaluating the Bombay Coated and Special Steels IPO should weigh:<\/p>\n<ul>\n<li>Revenue is growing at a good pace: FY26 revenue rose 20 percent to Rs 1,266.8 crore, and the June 2026 quarter added Rs 397 crore.<\/li>\n<li>Profit is moving up as well, with FY26 profit up 6.5 percent to Rs 30.5 crore and Rs 15 crore earned in the June 2026 quarter alone, about half of the previous full year.<\/li>\n<li>An alliance with a large steel producer and long-term appliance clients give the business steady volumes.<\/li>\n<li>Rs 125 crore of the fresh issue is meant to repay debt, and Rs 15.7 crore to buy equipment currently leased from Siemens Financial Services, which should cut interest and lease cost.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><strong>Screen steel and metal stocks on the Univest Screener<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Business_Risks\"><\/span><strong>Business Risks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Alongside these strengths, the Bombay Coated and Special Steels issue also carries the following business risks:<\/p>\n<ul>\n<li>Margins are thin. FY26 profit of Rs 30.5 crore on revenue of Rs 1,266.8 crore is a margin of about 2.4 percent (computed), so a small rise in steel cost or interest can erase a lot of profit.<\/li>\n<li>Debt is large relative to profit: borrowings were Rs 302.4 crore as of August 2026, about ten times FY26 profit.<\/li>\n<li>Customer concentration in the appliance industry means a slowdown at a few big brands would hit volumes.<\/li>\n<li>Steel price swings affect inventory value and working capital needs.<\/li>\n<li>The price band, quota, share count and FY24 and FY25 financials were not available in the sources reviewed, so valuation cannot be judged yet and the RHP should be treated as the reference.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Performance\"><\/span><strong>Financial Performance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Bombay Coated and Special Steels IPO follows a year of steady growth. Revenue rose 20 percent to Rs 1,266.8 crore in FY26 and profit rose 6.5 percent to Rs 30.5 crore. In the quarter to June 2026, revenue was Rs 397 crore and profit was Rs 15 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bombay_Coated_and_Special_Steels_Ltd_%E2%80%93_Financials_Rs_in_Crore\"><\/span><strong>Bombay Coated and Special Steels Ltd. &#8211; Financials (Rs in Crore)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Particulars<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Q1 FY27 (Jun 2026)<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Fiscal 2026<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Fiscal 2025 (computed)<\/th>\n<\/tr>\n<tr>\n<td>Revenue<\/td>\n<td>397.0<\/td>\n<td>1,266.8<\/td>\n<td>About 1,055.7<\/td>\n<\/tr>\n<tr>\n<td>Profit After Tax (PAT)<\/td>\n<td>15.0<\/td>\n<td>30.5<\/td>\n<td>About 28.6<\/td>\n<\/tr>\n<tr>\n<td>PAT Margin (%, computed)<\/td>\n<td>3.8%<\/td>\n<td>2.4%<\/td>\n<td>2.7%<\/td>\n<\/tr>\n<tr>\n<td>Total Borrowings<\/td>\n<td>302.4 (Aug 2026)<\/td>\n<td>Not stated<\/td>\n<td>Not stated<\/td>\n<\/tr>\n<\/table>\n<p><em>Amounts in Rs Crore, compiled from published Bombay Coated and Special Steels IPO disclosures. FY25 figures are back-calculated from the reported 20 percent revenue growth and 6.5 percent profit growth, so they are approximate. Net worth, EBITDA and FY24 figures were not available in the sources reviewed.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Ratios_and_Metrics\"><\/span><strong>Key Ratios and Metrics<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below shows the metrics available for the Bombay Coated and Special Steels issue. Valuation ratios are not shown because the price band was not available in the sources reviewed.<\/p>\n<p><em>These ratios offer a quick snapshot of the profitability and balance sheet behind the Bombay Coated and Special Steels IPO.<\/em><\/p>\n<table border=\"1\" cellpadding=\"6\" cellspacing=\"0\" style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Metric<\/th>\n<th style=\"background:#1F4E79;color:#fff;text-align:left;\">Value<\/th>\n<\/tr>\n<tr>\n<td>FY26 Revenue Growth<\/td>\n<td>20%<\/td>\n<\/tr>\n<tr>\n<td>FY26 Profit Growth<\/td>\n<td>6.5%<\/td>\n<\/tr>\n<tr>\n<td>FY26 PAT Margin (computed)<\/td>\n<td>About 2.4%<\/td>\n<\/tr>\n<tr>\n<td>Q1 FY27 PAT Margin (computed)<\/td>\n<td>About 3.8%<\/td>\n<\/tr>\n<tr>\n<td>Borrowings (Aug 2026)<\/td>\n<td>Rs 302.4 Cr<\/td>\n<\/tr>\n<tr>\n<td>Fresh Issue Earmarked for Debt Repayment<\/td>\n<td>Rs 125 Cr<\/td>\n<\/tr>\n<tr>\n<td>Price to Earnings and Market Cap<\/td>\n<td>Not available until the price band is announced<\/td>\n<\/tr>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Objects_of_the_Offer\"><\/span><strong>Objects of the Offer<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The company proposes to use the net proceeds from the Bombay Coated and Special Steels IPO towards the following objects.<\/p>\n<ul>\n<li>Repayment or prepayment of borrowings (Rs 125.00 Cr)<\/li>\n<li>Purchase of equipment currently leased from Siemens Financial Services (Rs 15.70 Cr)<\/li>\n<li>General corporate purposes (balance after issue expenses, amount not stated)<\/li>\n<\/ul>\n<p>Because the whole issue is fresh, all proceeds go to the company, and the object amounts should be confirmed in the RHP.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the Univest iOS App or Univest Android App to track the Bombay Coated and Special Steels IPO and get daily stock recommendations.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><em>Here is the bottom line on the Bombay Coated and Special Steels IPO.<\/em><\/p>\n<p>The Bombay Coated and Special Steels issue offers exposure to a growing steel processing business with ties to the appliance industry and a clear plan to cut debt.<\/p>\n<p>The cautions are very thin margins, debt that is large against profit, dependence on appliance makers, volatile steel prices and a valuation that is not yet known.<\/p>\n<p>Overall, investors weighing the Bombay Coated and Special Steels issue should wait for the price band, read the Red Herring Prospectus (RHP) for customer concentration, margins and borrowings after the issue, and match the position size to their own risk profile.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data independently before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<p>Univest does not publish grey market premium figures. Grey market premium is an unofficial and unregulated indicator collected informally outside the stock exchanges. It is not published, verified or endorsed by SEBI, NSE or BSE, can vary widely between trackers, and is not always accurate.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"FAQs\"><\/span><strong>FAQs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"When_does_the_Bombay_Coated_and_Special_Steels_IPO_open_and_close\"><\/span><strong>When does the Bombay Coated and Special Steels IPO open and close?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Bombay Coated and Special Steels IPO opens for subscription on 29 October 2026 and closes on 2 November 2026, with anchor bidding on 28 October. Allotment is expected on 3 November, and the shares are proposed to list on BSE and NSE on 5 November 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_price_band_and_minimum_investment_for_the_Bombay_Coated_and_Special_Steels_IPO\"><\/span><strong>What is the price band and minimum investment for the Bombay Coated and Special Steels IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The price band and lot size were not available in the sources reviewed, and they are expected a few days before the anchor book. Minimum investment equals one lot multiplied by the upper band, so check the final announcement before applying.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_does_Bombay_Coated_and_Special_Steels_do\"><\/span><strong>What does Bombay Coated and Special Steels do?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The company runs a steel processing centre that buys steel coils and cuts them into slit coils, blanks and sheets, mainly for makers of home and commercial appliances. It is reported to have an alliance with JSW Steel.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Bombay_Coated_and_Special_Steels_IPO_a_fresh_issue_or_an_offer_for_sale\"><\/span><strong>Is the Bombay Coated and Special Steels IPO a fresh issue or an offer for sale?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> It is a 100 percent fresh issue aggregating Rs 183.06 crore, down from Rs 191 crore in the draft, so all proceeds go to the company, subject to issue expenses.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_will_Bombay_Coated_and_Special_Steels_use_the_IPO_money\"><\/span><strong>How will Bombay Coated and Special Steels use the IPO money?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> About Rs 125 crore will repay borrowings and Rs 15.7 crore will buy equipment currently leased from Siemens Financial Services, with the balance for general corporate purposes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Bombay_Coated_and_Special_Steels_performed_financially\"><\/span><strong>How has Bombay Coated and Special Steels performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> FY26 revenue rose 20 percent to Rs 1,266.8 crore and profit rose 6.5 percent to Rs 30.5 crore. In the June 2026 quarter, revenue was Rs 397 crore and profit was Rs 15 crore.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Bombay_Coated_and_Special_Steels_IPO_expensive\"><\/span><strong>Is the Bombay Coated and Special Steels IPO expensive?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> That cannot be answered until the price band is announced. Once it is, compare the implied market cap with FY26 profit of Rs 30.5 crore and remember that margins are thin and borrowings were Rs 302.4 crore in August 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_main_risks_in_the_Bombay_Coated_and_Special_Steels_IPO\"><\/span><strong>What are the main risks in the Bombay Coated and Special Steels IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are a profit margin of about 2.4 percent, borrowings of about ten times FY26 profit, dependence on appliance makers, steel price swings and a valuation that is not yet known.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_are_the_lead_manager_and_registrar_for_the_Bombay_Coated_and_Special_Steels_IPO\"><\/span><strong>Who are the lead manager and registrar for the Bombay Coated and Special Steels IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Smart Horizon Capital Advisors Pvt. Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar, handling allotment and the credit of shares to successful applicants&#8217; demat accounts.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_Bombay_Coated_and_Special_Steels_IPO_a_good_investment\"><\/span><strong>Is the Bombay Coated and Special Steels IPO a good investment?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Bombay Coated and Special Steels issue offers a growing processor with a debt reduction plan, but thin margins and high borrowings call for caution. Wait for the price band, read the prospectus, and size the position to your own risk appetite before applying.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"When does the Bombay Coated and Special Steels IPO open and close?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Bombay Coated and Special Steels IPO opens for subscription on 29 October 2026 and closes on 2 November 2026, with anchor bidding on 28 October. Allotment is expected on 3 November, and the shares are proposed to list on BSE and NSE on 5 November 2026.\"}},{\"@type\":\"Question\",\"name\":\"What is the price band and minimum investment for the Bombay Coated and Special Steels IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The price band and lot size were not available in the sources reviewed, and they are expected a few days before the anchor book. Minimum investment equals one lot multiplied by the upper band, so check the final announcement before applying.\"}},{\"@type\":\"Question\",\"name\":\"What does Bombay Coated and Special Steels do?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The company runs a steel processing centre that buys steel coils and cuts them into slit coils, blanks and sheets, mainly for makers of home and commercial appliances. It is reported to have an alliance with JSW Steel.\"}},{\"@type\":\"Question\",\"name\":\"Is the Bombay Coated and Special Steels IPO a fresh issue or an offer for sale?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"It is a 100 percent fresh issue aggregating Rs 183.06 crore, down from Rs 191 crore in the draft, so all proceeds go to the company, subject to issue expenses.\"}},{\"@type\":\"Question\",\"name\":\"How will Bombay Coated and Special Steels use the IPO money?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"About Rs 125 crore will repay borrowings and Rs 15.7 crore will buy equipment currently leased from Siemens Financial Services, with the balance for general corporate purposes.\"}},{\"@type\":\"Question\",\"name\":\"How has Bombay Coated and Special Steels performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"FY26 revenue rose 20 percent to Rs 1,266.8 crore and profit rose 6.5 percent to Rs 30.5 crore. In the June 2026 quarter, revenue was Rs 397 crore and profit was Rs 15 crore.\"}},{\"@type\":\"Question\",\"name\":\"Is the Bombay Coated and Special Steels IPO expensive?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"That cannot be answered until the price band is announced. Once it is, compare the implied market cap with FY26 profit of Rs 30.5 crore and remember that margins are thin and borrowings were Rs 302.4 crore in August 2026.\"}},{\"@type\":\"Question\",\"name\":\"What are the main risks in the Bombay Coated and Special Steels IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are a profit margin of about 2.4 percent, borrowings of about ten times FY26 profit, dependence on appliance makers, steel price swings and a valuation that is not yet known.\"}},{\"@type\":\"Question\",\"name\":\"Who are the lead manager and registrar for the Bombay Coated and Special Steels IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Smart Horizon Capital Advisors Pvt. Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar, handling allotment and the credit of shares to successful applicants' demat accounts.\"}},{\"@type\":\"Question\",\"name\":\"Is the Bombay Coated and Special Steels IPO a good investment?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Bombay Coated and Special Steels issue offers a growing processor with a debt reduction plan, but thin margins and high borrowings call for caution. Wait for the price band, read the prospectus, and size the position to your own risk appetite before applying.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Bombay Coated and Special Steels IPO is a Rs 183.06 crore fresh issue, open from 29 October to 2 November 2026, with listing proposed on BSE and NSE on 5 November. The company processes steel coils into slit coils, blanks and sheets for appliance makers, and Rs 125 crore of t<\/p>\n","protected":false},"author":29,"featured_media":324914,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1281],"tags":[5351],"class_list":["post-324915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","tag-mainboard-ipo"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["324914"],"rank_math_title":["Bombay Coated and Special Steels IPO 2026: Dates and Review"],"rank_math_description":["Bombay Coated and Special Steels IPO opens 29 October to 2 November 2026 as a Rs 183 crore fresh issue. Read the review of the steel processor and its risks."],"rank_math_focus_keyword":["Bombay Coated and Special Steels IPO"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/bombay-coated-and-special-steels-ipo-review-key-details-company-overview-and.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/324915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=324915"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/324915\/revisions"}],"predecessor-version":[{"id":324916,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/324915\/revisions\/324916"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/324914"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=324915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=324915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=324915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}