Bombay Coated & Special Steels IPO Subscribed 7x So Far on Final Day, GMP at 11%
- 2nd November 2026
- 12:45 PM
- 3 min read
Summary
The initial public offering (IPO) of Bombay Coated & Special Steels was subscribed 7x on November 2, the last day of bidding. The ₹183.06 crore issue received bids for 11,57,74,386 shares against 1,65,33,012 shares on offer. Non-institutional investors led demand at 9.40x, followed by qualified institutional buyers at 6.57x.
Mumbai | November 2, 2026
The IPO of steel processing company Bombay Coated & Special Steels was subscribed 7x on November 2, the last day of bidding, based on NSE data.
How Much Has the Bombay Coated & Special Steels IPO Been Subscribed?
The ₹183.06 crore IPO received bids for 11,57,74,386 shares against 1,65,33,012 shares on offer.
| Category | Subscription |
| Non-institutional investors | 9.40x |
| Qualified institutional buyers | 6.57x |
| Overall | 7x |
What Is the Bombay Coated & Special Steels IPO GMP Today?
The grey market premium (GMP) for Bombay Coated & Special Steels shares stood at 11% on November 2.
Grey market premium is an unofficial indicator based on unregulated trading activity and does not guarantee listing-day performance. (italics)
What Are the Key Details of the IPO?
The IPO is an entirely fresh issue of shares. Investors can apply for a minimum of one lot of 182 shares.
| Detail | Information |
| Issue size | ₹183.06 crore |
| Issue type | Entirely fresh issue |
| Price band | ₹78 to ₹82 per share |
| Lot size | 182 shares |
| Minimum investment | ₹14,924 at the upper end of the price band |
How Will the Company Use the IPO Proceeds?
- ₹125 crore will go towards repaying or prepaying certain borrowings.
- ₹15.77 crore is set aside for costs related to acquiring capital equipment under existing lease arrangements with Siemens Financial Services Private Limited.
- The remaining proceeds will be used for general corporate purposes.
How Has Bombay Coated & Special Steels Performed Financially?
The company reported higher revenue and profit after tax (PAT) in the financial year 2025-26 (FY26).
| Financial year | Revenue from operations (₹ crore) | PAT (₹ crore) |
| FY24 | 755.26 | 21.14 |
| FY25 | 1,055.71 | 28.67 |
| FY26 | 1,266.82 | 30.54 |
For the quarter ended June 2026, the company reported revenue from operations of ₹397.08 crore and a PAT of ₹15.08 crore.
What Does Bombay Coated & Special Steels Do?
Bombay Coated & Special Steels converts steel coils into processed steel products. Its operations include slitting, cut-to-length processing, shearing and embossing. The company supplies industrial customers that need processed steel for their operations.
Its manufacturing facilities are located in Wada and Bhiwandi in Maharashtra, Ghiloth in Rajasthan, and Sri City in Andhra Pradesh. As of June 30, 2026, the company had a total installed processing capacity of 1,23,153 tonnes per annum.
Outlook
Bombay Coated & Special Steels shares are set to list on BSE and NSE on November 5, based on the tentative schedule.
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