Bombay Coated & Special Steels Ltd. (Bombay Coated and Special Steels IPO)
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Overview
Bombay Coated and Special Steels Limited is an India-based steel processing centre that converts coated and non-coated steel coils into value-added processed steel products such as slit coils, blanks/sheets, embossed products and sheared blanks. The company provides precision slitting, cut-to-length, embossing and shearing services for OEM/ODM customers, with major end-use in home and commercial appliances (air conditioners and refrigeration) and additional applications across general engineering (automotive, electrical equipment, ventilation and related segments). It operates a multi-location network with facilities in Maharashtra (Wada and Bhiwandi), Rajasthan (Ghiloth) and Andhra Pradesh (Sri City), and sources a significant share of raw material through its authorised service partner relationship with JSW Steel Coated Products Limited.
- Opening Date
Oct 29, 2026
- Closing Date
Nov 02, 2026
- Listing Date
Nov 05, 2026
- IPO Type
Mainboard
- IPO Status
Upcoming
- Issue Size
183.06 Cr
- Fresh Issue
183.06 Cr
- Offer for Sale
0 Cr
- Price Band
₹78 - ₹82
- Lot Size
182
IPO Timeline
Financials
Use of IPO funds
Key Performance Indicator
- P/E Ratio
10.88
- EPS
7.54
- ROE
11.65%
- ROCE
7.01%
- RONW
11.03%
- Debt to Equity Ratio
2
- PAT Margin
3.8%
- EBITDA Margin
8.1%
- P/B
2.7
Bull vs Bear
Bull case
- •
Strong tie-up with one major steel supplier can mean stable quality and dependable supply, helping meet strict customer specs and avoid costly production delays.
- •
Four facilities across regions support just-in-time deliveries, which matters because OEMs value reliability and may stick longer with suppliers that reduce their inventory risk.
- •
Industry expects Indian steel processing centres to keep growing, so a well-placed processor can gain volumes without needing to “create” demand alone.
Bear case
- •
About 85%–97% of steel coils come from one supplier, so a dispute, supply cut, or tighter terms could quickly hit production, costs, and customer deliveries.
- •
Past ROC filing lapses and statutory delays can invite penalties or scrutiny, which matters because management time and reputation risk can distract from running the business.
- •
Negative cash flows from investing and financing show heavy cash needs, so funding pressure can rise during expansion, stressing liquidity and increasing reliance on borrowing.
Subscription Rate
Subscription data will be available once the IPO opens.
