Bombay Coated & Special Steels Ltd. has launched its initial public offering to raise Rs 183.06 crore through a fresh issue priced between Rs 78 and Rs 82 per share. Most of the proceeds will be directed toward repaying debt and acquiring equipment from Siemens Financial Services. Brokerage Anand Rathi has assigned a long-term subscribe rating based on reasonable valuations and expanding operational scale. The company reported a 20% increase in total income alongside a 7% rise in profit after tax for FY26.
Key points
Brokerage firm Anand Rathi recommends subscribing for the long term due to reasonable val…: Brokerage firm Anand Rathi recommends subscribing for the long term due to reasonable valuations and a 25.1% return on net worth.
The company supplies value-added steel products to key industry clients such as Haier App…: The company supplies value-added steel products to key industry clients such as Haier Appliances India, Dixon Electro Manufacturing, and Amber Enterprises India.
Shares are tentatively scheduled to list on the BSE and NSE on November 5, 2026, followin…: Shares are tentatively scheduled to list on the BSE and NSE on November 5, 2026, following allotment finalization on November 3.
Sources checked by our analysis pipeline: 1
The Rs 183.06 crore IPO is entirely a fresh issue of 2.23 crore shares. The price band has been fixed at Rs 78–82 per share, with a lot size of 182 shares. Retail investors need to invest a minimum of Rs 14,924 to apply for one lot at the upper end of the price band.
The IPO allotment is expected to be finalised on November 3, while the shares are tentatively scheduled to list on the NSE and BSE on November 5, 2026. Smart Horizon Capital Advisors Pvt. Ltd. is the book-running lead manager, and KFin Technologies Ltd. is the registrar to the issue.
Bombay Coated & Special Steels IPO GMP Today
Bombay Coated & Special Steels IPO is commanding a grey market premium (GMP) of Rs 9, or 11%, over the upper price band of Rs 82 per share. This indicates an estimated listing price of Rs 91 per share.Should you subscribe?
According to Anand Rathi’s research report, Bombay Coated & Special Steels is valued at 16.9 times its FY26 price-to-earnings (P/E) ratio and 9.8 times its FY26 EV/EBITDA…
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