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InvestmentsIPOBombay Coated & Special Steels IPO

Bombay Coated & Special Steels IPO

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Open Date

29 Oct 2026

Close Date

2 Nov 2026

Min Investment

₹ 14,196

Lot Size

182

Issue Size

₹ 183.06 Cr

Price Range

₹ 78 - ₹ 82

Subscribed

0.46 x
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status

IPO Open Now.

IPO Timeline
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IPO Offer Start
29 Oct 2026
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IPO Offer Ends
2 Nov 2026
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Allotment Finalisation
3 Nov 2026
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Refund Initialisation
4 Nov 2026
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Non-Institutional Buyers (sHNI)
4 Nov 2026
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Listing of Shares
5 Nov 2026
IPO Subscription Details as on 29 Oct 2026, 06:54 PM
Qualified Instituational Buyers (QiB)
0 x
Retail
0.77 x
Total
0.46 x
Non-Institutional Buyer (bHNI)
0.18 x
Non-Institutional Buyer (sHNI)
0.73 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Bombay Coated and Special Steels Limited (BCSSL) is a multi-location steel processing centre engaged in converting steel coils into value-added processed steel products, including slit coils, blanks, embossed slit coils, embossed blanks, and sheared blanks. The company operates as an intermediary between primary steel producers and end-users, serving OEMs and ODMs across home & commercial appliances and general engineering sectors. With four ISO 9001:2015-certified manufacturing facilities in Maharashtra, Rajasthan, and Andhra Pradesh, the company has an aggregate installed processing capacity of 1,23,153 MTPA (as of June 30, 2026) and has been an authorised service partner of JSW Steel Coated Products Limited since 2021. The company reported revenue from operations of ₹12,668.18 million in Fiscal 2026, with capacity growing at a CAGR of ~23.83% between Fiscal 2024 and Fiscal 2026.
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Founded In

2019

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Director

Neelam Tater

Financials of Bombay Coated And Special Steels IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2024Mar 2025Mar 2026
Operating Revenue755.261,055.711,266.82
Other Income10.152.943.01
Total Income
765.411,058.651,269.83
Total Expenses
737.211,021.481,229.04
Profit Before Tax28.2137.1640.79
Total Profit
21.1428.6730.54

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company intends to utilise a portion of the Net Proceeds towards repayment/pre-payment, in full or in part, of certain outstanding borrowings availed from banks and financial institutions, including term loans and working capital facilities, along with accrued interest, to reduce indebtedness and debt servicing costs.125
The company proposes to utilise a portion of the Net Proceeds towards acquiring ownership of capital equipment currently under lease arrangements with Siemens Financial Services Private Limited, aiming to reduce recurring lease and rental expenses and strengthen its fixed asset base.16
The remaining Net Proceeds are intended to be deployed towards general corporate purposes, including funding growth opportunities, strategic initiatives, partnerships, tie-ups, acquisitions, and meeting ordinary course business expenses, subject to a cap of 25% of Gross Proceeds as per SEBI ICDR Regulations.-
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  • Established Relationship with JSWSCPL for Supply of Steel Coils: The company has been an authorised service partner of JSW Steel Coated Products Limited ('JSWSCPL') since 2021, sourcing approximately 85.13%, 86.65%, 90.61%, and 84.58% of total steel coil requirements from JSWSCPL for Q1 FY27, FY26, FY25, and FY24 respectively, ensuring consistent raw material supply and technical support.
  • Long-Standing Relationships with Customers, Including OEMs and ODMs: The company has maintained long-term relationships with a diversified customer base of 178–261 customers across multiple industries; the top 10 customers contributed ₹9,036.03 million (71.33%) and ₹7,120.06 million (67.44%) of revenue from operations in FY26 and FY25 respectively, with ~98.05% of Q1 FY27 revenue derived from existing customers.
  • Strategically Located Manufacturing Network Enabling Just-in-Time Supply and Cost-Efficient Operations: The company operates four manufacturing facilities at Wada, Bhiwandi (Maharashtra), Ghiloth (Rajasthan), and Sri City (Andhra Pradesh), totalling 42,209 sq. mtrs., strategically located near key OEM/ODM manufacturing hubs to enable just-in-time deliveries, reduce transit time, and lower freight costs.
  • Integrated and Advanced Steel Processing Infrastructure: The company is equipped with high-precision slitting, cut-to-length, shearing, and embossing lines with an aggregate installed capacity of 1,23,153 MTPA (Q1 FY27), all ISO 9001:2015 certified, capable of processing steel coils with widths from 22 mm to 1,850 mm and thicknesses from 0.25 mm to 5.50 mm.
  • High Entry Barriers Driven by Authorised Supplier Arrangements, Capital Intensity and Customer Approvals: The company operates in a capital-intensive environment characterised by high entry barriers, including substantial investments in specialised processing equipment, stringent OEM/ODM vendor qualification processes, technical audits, and the need for proximity to customer locations, reinforcing its competitive positioning.
  • Experienced Promoters and Professional Management Team: The company is led by promoters with over 4 decades of steel industry experience; Mr. Vijaykumar Himatrai Gupta (40+ years) and Mr. Nitin Vijaykumar Gupta (20+ years), supported by a professional management team with strong operational, technical, and financial expertise enabling strategic growth and market expansion.

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