Upcoming IPO: Bombay Coated and Special Steels files DRHP for ₹191 crore public offer

Bombay Coated and Special Steels IPO: Steel processing company Bombay Coated and Special Steels has filed a draft red herring prospectus (DRHP) with the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise funds via the initial public offering.

The proposed initial public offering is exclusively a fresh issuance of equity shares valued at ₹191 crore, with no offer for sale (OFS) component.

The net proceeds from the issue will be utilised for repayment of certain borrowings, financing the cost towards acquisition of capital equipment under existing lease arrangements with Siemens Financial Services Pvt Ltd and for general corporate purposes.

"We expect to receive the benefits of listing of the equity shares on the stock exchanges, which include enhancement of our company’s visibility and brand image and creation of a public market for our equity shares in India, among others," the company said in its red herring prospectus.

The company's shares will be listed on the National Stock Exchange (NSE) and the BSE. Smart Horizon Capital Advisor Pvt Ltd is the issue's book-running lead manager, while KFin Technologies is the registrar.

About the company

Bombay Coated and Special Steels is a steel processing centre involved in converting steel coils into value-added processed steel products. Its core competencies include cut-to-length processing, precision slitting, shearing, and embossing of steel coils into slit coils and blanks/sheets. It serves a diversified customer base comprising Original Design Manufacturers (ODMs) and Original Equipment Manufacturers (OEMs).

Being a steel processing centre, the company operates as an intermediary between primary steel producers and end-users by offering value-added processing services.

It operates with an aggregate installed processing capacity of 220,506 million tonnes per annum (MTPA), computed on a half-yearly basis for the financial year 2025-26, across slitting, shearing, cut-to-length and embossing operations, as of September 2025.

Bombay Coated and Special Steels IPO: Financials