Bombay Coated & Special Steels IPO: Price Band, Lot Size, Financials & Review
Bombay Coated & Special Steels IPO opens on Thu, 29 Oct 2026 and closes on Mon, 2 Nov 2026.
- Open Date
- 29 Oct 2026
- Close Date
- 2 Nov 2026
Last updated
- Price band
- Not announced
- Lot size
- —
- Min. investment
- —
- Issue size
- ₹183 Cr
Bombay Coated & Special Steels IPO details
Bombay Coated & Special Steels IPO is a ₹183 Cr book-building IPO on the Mainboard segment, listing on BSE & NSE. It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
The issue opens on Thu, 29 Oct 2026 and closes on Mon, 2 Nov 2026. Allotment is expected on Tue, 3 Nov 2026 and listing on Thu, 5 Nov 2026.
KFin Technologies Limited is the registrar, and Smart Horizon Capital Advisors Private Limited is the book running lead manager.
Share reservation by category
| Category | Shares Details |
|---|---|
| Qualified Institutions | Not More Than 50% of the Net Issue |
| Retail Investors | Not More Than 35% of the Net Issue |
| Non-Institutional | Not Less Than 15% of the Net Issue |
Issue structure and valuation
It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
P/E is not meaningful here because earnings per share is zero or negative.
Listed peers with positive earnings trade at a median P/E of 31.03x (3 companies).
| EPS (pre-issue) Latest earnings per share before the issue | ₹7.54 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | — |
| EPS (post-issue) EPS on the enlarged share capital | ₹0 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | — |
| Promoter holding (pre-issue) | 97.78% |
| Promoter holding (post-issue) | 0.00% |
Bombay Coated & Special Steels Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹1,058.65 Cr to ₹1,269.83 Cr, and profit after tax rose from ₹28.67 Cr to ₹30.54 Cr. The PAT margin for 31 Mar 2026 was 2.41%.
| Period ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 526.11 | 571.47 | 458.21 | 350.21 |
| Total Income | 397.55 | 1,269.83 | 1,058.65 | 765.41 |
| Profit After Tax | 15.08 | 30.54 | 28.67 | 21.14 |
| EBITDA | 32.17 | 86.09 | 74.09 | 49.17 |
| Net Worth | 136.62 | 121.58 | 83.05 | 54.36 |
| Reserve & Surplus | 96.12 | 81.08 | 73.15 | 44.46 |
| Total Borrowings | 273.69 | 338.45 | 276.96 | 234.16 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| ROE % | 11.65 | 29.92 | 41.76 | 48.20 |
| ROCE % | 7.01 | 16.40 | 18.78 | 18.60 |
| Debt / Equity | 2.00 | 2.78 | 3.33 | 4.31 |
| RoNW % | 11.03 | 25.12 | 34.54 | 38.84 |
| Pat Margin % | 3.80 | 2.41 | 2.72 | 2.80 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Bombay Coated and Special Steels Ltd | 10 | — | 7.64 | 7.64 | 25.12% | 30.41 |
| BMW Industries Ltd | 1 | 14.98 | 3.63 | 3.35 | 10.15% | 35.85 |
| Manaksia Coated Metals & Industries Ltd | 1 | 31.03 | 4.25 | 4.18 | 11.96% | 32.46 |
| Shiv Aum Steels Ltd | 10 | 98.54 | 5.47 | 5.47 | 4.73% | 88.86 |
Notes
The basic and diluted EPS refers to the basic and diluted EPS sourced from the financial statements of the peer group entities respectively for the year ended March 31, 2026.
The P/E ratio of the listed industry peers has been computed based on the closing market price of their equity shares on BSE Limited (“BSE”) or the National Stock Exchange of India Limited (“NSE”) as of October 21, 2026. The aforesaid market prices have been divided by the diluted earnings per share for the financial year ended March 31, 2026.
RoNW (%) = Profit for the year ended March 31, 2026, attributable to the shareholders of the holding Company of the respective peer company, divided by total net worth (excluding non-controlling interest) of the peer group entity as at March 31, 2026.
NAV is computed as the net worth of the peer group entity as at March 31, 2026 divided by the outstanding weighted average number of equity shares considered for diluted earnings per share as at March 31, 2026.
Net worth means the aggregate value of the paid-up share capital and all reserves excluding capital reserves, capital redemption reserve, revaluation reserve, foreign currency translation reserve, amalgamation adjustment reserve, share application money pending allotment and non-controlling interest.
The peer group companies are not entirely comparable to our Company in terms of their business operations and services.
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/pre-payment, in full or in part, of certain borrowings availed by our Company | 125.00 |
| 2 | Financing the cost towards acquisition of capital equipment under existing lease arrangements with Siemens Financial Services Private Limited | 15.77 |
| 3 | General corporate purposes | — |
| Total | 140.77 |
About Bombay Coated & Special Steels Limited
Bombay Coated & Special Steels is a steel processing company in India engaged in converting steel coils into processed steel products, including slit coils, blanks, and sheets. Its key capabilities include slitting, cut-to-length processing, shearing, and embossing, enabling it to supply steel products tailored to specific customer requirements.
The company caters primarily to Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs) across a range of industries. Its end-user segments include home and commercial appliances, such as air conditioners, refrigerators, washing machines, and water heaters, as well as general engineering applications involving automotive components, electrical parts, cleanrooms, and ventilation systems.
Since 2021, the company has been an authorised service partner of JSW Steel Coated Products Limited, which is one of its key steel coil suppliers. It also procures raw materials from other suppliers and processes them using modern machinery to meet the technical specifications and quality requirements of its customers.
The company operates processing facilities in Wada, Bhiwandi, Ghiloth, and Sri City, collectively covering an area of 42,209 square metres. Its Rajasthan facility is GEM 4-certified for green manufacturing. The company has an aggregate installed processing capacity of 350,411 metric tonnes per annum (MTPA) across slitting, cut-to-length processing, shearing, and embossing operations.
As of September 30, 2025, Bombay Coated & Special Steels had 153 full-time employees and four employees engaged on a retainership basis.
Promoters
- Vijaykumar Himatrai Gupta
- Nitin Vijaykumar Gupta
- Bhawna Nitin Gupta
Contact details
Bombay Coated & Special Steels Ltd.
2602, Parinee I,
7-A Shah Industrial Estate,
Andheri (West),
Mumbai, Maharashtra, 400053
Tel: +91 22 4664 9193
E-mail Id: compliance@bcsspl.in
Website:http://www.bcsspl.in/
Bombay Coated & Special Steels IPO FAQs
- When does Bombay Coated & Special Steels IPO open and close?
- Bombay Coated & Special Steels IPO opens on Thu, 29 Oct 2026 and closes on Mon, 2 Nov 2026.
- What is the Bombay Coated & Special Steels IPO allotment date?
- The Bombay Coated & Special Steels IPO basis of allotment is expected on Tue, 3 Nov 2026. You can check your allotment status on the KFin Technologies Limited website.
- What is the Bombay Coated & Special Steels IPO listing date?
- Bombay Coated & Special Steels IPO is expected to list on BSE & NSE on Thu, 5 Nov 2026.
- Is the Bombay Coated & Special Steels IPO a fresh issue or an offer for sale?
- It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
- Who are the registrar and lead managers of the Bombay Coated & Special Steels IPO?
- The registrar for the Bombay Coated & Special Steels IPO is KFin Technologies Limited, and the book running lead manager is Smart Horizon Capital Advisors Private Limited.
- How to apply for the Bombay Coated & Special Steels IPO?
- Apply through your broker app or net banking using UPI or ASBA. Select the IPO, enter the number of lots and your bid (retail investors can bid at the cut-off price), and approve the UPI mandate before the issue closes on Mon, 2 Nov 2026.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.