Bombay Coated & Special Steels Limited
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Bombay Coated & Special Steels Limited's is gearing up for its market debut with an Initial Public Offering aggregating TBD. The fresh issue component ofTBD will bolster the company's balance sheet.
The IPO features a competitive price band of TBD per share, with the minimum investment requirement set at TBD. This structure aims to attract diverse investor participation across market segments.
The public subscription window is slated to open on Oct 29, 2026 and close on Nov 02, 2026. Following the subscription period, allotment will be finalized on Nov 03, 2026, with the stock listing anticipated on Nov 05, 2026 at the NSE, BSE exchange.
Bombay Coated and Special Steels Limited, incorporated in 2019, operates as a steel processing centre that converts steel coils into value-added products through precision slitting, cut-to-length processing, shearing and embossing. The company acts as an intermediary between primary steel producers and end-users, supplying Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs) in the home appliances, commercial appliances and general engineering sectors. Since 2021, it has served as an authorised service partner of JSW Steel Coated Products Limited, supporting a reliable supply of steel coils for its processing operations. The company operates four manufacturing facilities in Wada and Bhiwandi in Maharashtra, Ghiloth in Rajasthan, and Sri City in Andhra Pradesh, with a combined installed processing capacity exceeding 1,23,000 metric tonnes per annum (MTPA) as of June 30, 2026. Its facilities are ISO 9001:2015 certified, with selected plants also holding green certifications. Bombay Coated and Special Steels serves a diversified customer base that includes Amber Enterprises India Limited, Western Refrigeration Private Limited, Haier Appliances India Private Limited and PG Technoplast Private Limited, among others. Its growth strategy includes diversifying into additional end-user industries, expanding its Ghiloth facility and strengthening its presence in domestic and international markets.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
The expected premium (GMP) is based on market buzz and unofficial trading. It should not be considered as the guaranteed listing price. Always refer to the RHP and seek advice from a financial expert before making investment decisions.
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- Established Partnership with JSWSCPL: The company has been an authorised service partner of JSW Steel Coated Products Limited since 2021, sourcing most of its steel coils from JSWSCPL and receiving technical and quality control support.
- Strong Customer Relationships: The company has built long-term relationships with OEMs and ODMs. Its top 10 customers contributed 73.54% of operating revenue in the three months ended June 30, 2026, supported by product quality, competitive pricing and timely delivery.
- Strategically Located Manufacturing Facilities: The company operates four manufacturing facilities near major OEM and ODM hubs across Western, Northern and Southern India, helping reduce transportation costs, enable timely deliveries and improve operational flexibility.
- High Dependence on a Single Supplier: The company sourced 85.13%, 86.65%, 90.61% and 84.58% of its steel coil requirements from JSWSCPL for the periods ended June 30, 2026, FY2026, FY2025 and FY2024, respectively. Any disruption in this relationship could affect business operations.
- Statutory Filing Issues: The company has faced errors and delays in statutory filings with the Registrar of Companies (RoC), including incorrect allotment details and late submissions, which could lead to regulatory scrutiny or penalties.
- Negative Cash Flows from Investing and Financing Activities: The company has recorded negative cash flows from investing and financing activities, including ₹733.88 million used in financing activities in the three months ended June 30, 2026. This could put pressure on liquidity and future growth plans.
- Vijaykumar Himatrai Gupta
- Nitin Vijaykumar Gupta
- Bhawna Nitin Gupta
Bombay Coated & Special Steels Limited
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