Investment News · 29 October 2026 · 3 min read
In short: The initial public offer (IPO) of Bombay Coated and Special Steels opens today, 29 October 2026, and closes on 2 November. The price band is ₹78-82 per share and the issue size is about ₹183 crore, all fresh shares. Retail investors need at least ₹14,924 for one lot of 182 shares. Shares are due to list on BSE and NSE on 5 November.
Key numbers
| Detail | Figure |
|---|---|
| Price band | ₹78 to ₹82 per share |
| Issue size | About ₹183 crore (2,23,24,024 shares), all fresh issue, no offer for sale |
| Lot size | 182 shares (₹14,924 at the top of the band) |
| Retail maximum | 13 lots, 2,366 shares (₹1,94,012) |
| Quota | Up to 50% for institutions (QIB), at least 35% retail, at least 15% non-institutional (NII) |
| Lead manager / registrar | Smart Horizon Capital Advisors / KFin Technologies |
What the company does and where the money goes
The company processes and coats steel, with plants in Maharashtra, Rajasthan and Andhra Pradesh and a processing capacity of 1,23,153 tonnes a year. Revenue from operations rose from ₹1,055.71 crore in FY25 to ₹1,266.82 crore in FY26, while profit after tax was ₹30.54 crore in FY26 (₹28.67 crore in FY25).
- ₹125 crore will go towards repaying or prepaying borrowings. Total borrowings were ₹338.45 crore at the end of FY26.
- ₹15.77 crore will be used to buy equipment the company now leases from Siemens Financial Services.
- The rest is for general corporate purposes.
- Promoters’ holding will fall from 97.78% to about 63.03% after the issue, only because new shares are being issued.
What it means for you
- Profit margins are thin: about ₹30 crore of profit on over ₹1,250 crore of revenue. Read the risk factors in the red herring prospectus (RHP) before applying.
- Debt is high but falling relative to equity: the debt-to-equity ratio was 2.78 in FY26, down from 4.31 in FY24, as reported.
- Money is only blocked in your bank account through UPI (ASBA) until allotment; refunds and unblocking are due on 4 November.
- Track this and other issues on the Koshfin IPO tracker, and see our IPOs this week roundup.
Dates to watch
| Event | Date |
|---|---|
| Opens | 29 October 2026 |
| Closes | 2 November 2026 |
| Allotment | 3 November 2026 |
| Refunds and demat credit | 4 November 2026 |
| Listing (BSE, NSE) | 5 November 2026 |
Sources
- Anand Rathi: Bombay Coated and Special Steels IPO details
- Whalesbook: Bombay Coated and Special Steels IPO opens Oct 29, price band ₹78-82
- India IPO daily reporter, 28 October 2026
This is a news summary for education, not investment advice. Figures are as reported on or before 29 October 2026; check official sources before making decisions.