Bombay Coated and Special Steels IPO Shares List at ₹92.02 on BSE, 12.22% Premium to Issue Price

Bombay Coated and Special Steels Limited shares made their stock market debut on Thursday, November 5, 2026, listing at ₹92.02 per share on the Bombay Stock Exchange (BSE), representing a premium of 12.22% over the IPO issue price of ₹82 per share. The company's equity shares also commenced trading on the National Stock Exchange (NSE), opening at ₹91 per share, a premium of 10.98%.

The stock opened ₹10.02 above the issue price on BSE and ₹9 above the issue price on NSE. Investors who received shares through the IPO allotment recorded gains at the opening prices, before applicable transaction charges and taxes. Following the listing, the company's shares also moved higher during the early trading session, with subsequent market reports indicating further gains over the respective exchange opening prices.

The listing followed the company's ₹183.06 crore initial public offering, which opened for subscription on October 29, 2026, and closed on November 2, 2026. The public issue received an overall subscription of 63.89 times, with the Non-Institutional Investors (NII) category recording the highest subscription at 166.44 times. The IPO price band was fixed at ₹78 to ₹82 per share.

Bombay Coated and Special Steels Limited operates in India's steel processing industry. The company converts steel coils into value-added processed steel products and supplies them to original equipment manufacturers (OEMs) and original design manufacturers (ODMs) across home appliances, automobiles, electrical equipment, ventilation systems and general engineering industries.

Bombay Coated and Special Steels IPO Listing Details

Bombay Coated and Special Steels IPO was a ₹183.06 crore book-built issue comprising entirely a fresh issue of approximately 2.23 crore equity shares. The offering did not include an offer-for-sale component.

The proceeds from the fresh issue will be received by Bombay Coated and Special Steels Limited after applicable issue expenses. The company intends to utilise the funds for repayment of borrowings, acquisition of capital equipment and general corporate purposes.

The IPO price band was fixed at ₹78 to ₹82 per equity share, with a minimum application lot of 182 shares. At the upper end of the price band, the minimum investment required from an Individual Investor was ₹14,924.

The IPO opened for subscription on October 29, 2026, and closed on November 2, 2026. The basis of allotment was scheduled to be finalised on November 3, followed by the initiation of refunds and credit of allotted shares to successful applicants' demat accounts on November 4, 2026.

The offering also included an anchor investor allocation ahead of the public subscription period. A total of 65,97,500 equity shares were allotted to anchor investors at ₹82 per share, representing an allocation of ₹54.10 crore.

The company proposed to utilise ₹125 crore from the IPO proceeds towards repayment or prepayment of certain outstanding borrowings. Another ₹15.77 crore was earmarked for financing the acquisition of capital equipment under existing lease arrangements with Siemens Financial Services Private Limited. The remaining net proceeds will be allocated towards general corporate purposes.

The NII category recorded the highest subscription among the main investor categories at 166.44 times, followed by Qualified Institutional Buyers (QIBs, excluding anchors) at 37.32 times. The Individual Investors category was subscribed 35.46 times.

On November 5, 2026, Bombay Coated and Special Steels shares listed at ₹92.02 on BSE, representing a premium of 12.22% over the issue price. On NSE, the stock opened at ₹91 per share, reflecting a listing premium of 10.98%.

• Issue Price: ₹82 per share
• BSE Listing Price: ₹92.02 per share
• NSE Listing Price: ₹91 per share
• BSE Listing Premium: 12.22%
• NSE Listing Premium: 10.98%
• Overall Subscription: 63.89 times
• Issue Size: ₹183.06 crore
• Fresh Issue: ₹183.06 crore
• Offer for Sale: Nil
• Price Band: ₹78 to ₹82 per share
• Lot Size: 182 shares
• Minimum Investment: ₹14,924
• Anchor Investor Allocation: ₹54.10 crore
• IPO Open Date: October 29, 2026
• IPO Close Date: November 2, 2026
• Listing Date: November 5, 2026
• Exchange: NSE and BSE

First-Day Trading Performance

Bombay Coated and Special Steels share price began trading above their IPO issue price on November 5, 2026, with the stock recording a listing premium of 12.22% on BSE and 10.98% on NSE.

Listing Price: On BSE, the stock opened at ₹92.02 per share compared with the IPO issue price of ₹82, resulting in a premium of ₹10.02 per share, or 12.22%.

On NSE, the stock debuted at ₹91 per share against the issue price of ₹82, representing a premium of ₹9 per share, or 10.98%. The difference between the two exchange opening prices stood at ₹1.02 per share.

The opening prices placed Bombay Coated and Special Steels shares above the upper end of the IPO price band of ₹82 on both stock exchanges. The initial market debut reflected trading prices higher than the amount paid by investors who received shares through the IPO allotment process.

Listing Return: Investors allotted one lot of 182 shares at the issue price of ₹82 invested ₹14,924. At the BSE listing price of ₹92.02, the value of one lot stood at ₹16,747.64, representing a gain of ₹1,823.64 before applicable charges and taxes.

At the NSE listing price of ₹91, the corresponding lot value stood at ₹16,562, translating into a gain of ₹1,638 over the original application amount, before charges and taxes.

Opening Performance: The BSE opening price of ₹92.02 represented an increase of ₹10.02 per share over the IPO issue price. The NSE opening price of ₹91 was ₹9 higher than the issue price.

The stock's initial listing premium followed an IPO that received 63.89 times overall subscription, with bids significantly exceeding the shares available to public investors.

The company's shares entered secondary-market trading after completion of the IPO allotment process. Subsequent price movements during the trading session reflect transactions between buyers and sellers on the stock exchanges.

The opening premium followed demand across all three main investor categories. The NII portion recorded the highest subscription at 166.44 times, followed by QIBs at 37.32 times and Individual Investors at 35.46 times.

Bombay Coated and Special Steels IPO Subscription Status

The Bombay Coated and Special Steels IPO received an overall subscription of 63.89 times by the close of bidding on November 2, 2026.

The public issue attracted bids for 1,00,47,51,020 shares against 1,57,26,524 shares available for public subscription, excluding the anchor investor portion.

Non-Institutional Investors recorded the highest subscription among the main investor categories at 166.44 times, followed by Qualified Institutional Buyers (Ex Anchor) at 37.32 times. The Individual Investors category was subscribed 35.46 times.

The NII category received bids for 55,73,36,598 shares against 33,48,603 shares reserved for the category. Within the NII segment, applications exceeding ₹10 lakh recorded subscription of 192.94 times, while the smaller NII category was subscribed 113.44 times.

The QIB (Ex Anchor) category received bids for 17,03,30,524 shares against 45,64,512 shares available for subscription, recording a subscription of 37.32 times.

Individual Investors also subscribed substantially more than their reserved portion. The category received bids for 27,70,83,898 shares against 78,13,409 shares offered, translating into subscription of 35.46 times.

The total value of bids received stood at ₹8,238.96 crore at the upper issue price of ₹82 per share.

The IPO bidding period covered three trading days, beginning on October 29 and ending on November 2, 2026. Following the completion of bidding and allotment formalities, the company's equity shares commenced trading on both NSE and BSE on November 5.

About Bombay Coated and Special Steels Limited

Bombay Coated and Special Steels Limited is an Indian steel processing company incorporated in December 2019. The company operates as a steel processing centre, converting steel coils into value-added processed steel products for original equipment manufacturers and original design manufacturers.

Its operations involve precision slitting, cut-to-length processing, shearing and embossing of steel coils. These processes enable the company to supply steel products in customised sizes, dimensions and specifications according to the requirements of its industrial customers.

The company's product portfolio includes slit coils, embossed slit coils, steel blanks, embossed blanks and sheared blanks. These processed steel products are used in manufacturing applications where steel components require specific dimensions, finishes or processing characteristics.

Bombay Coated and Special Steels serves customers across the home appliances, commercial refrigeration, automotive, electrical equipment, pharmaceuticals, ventilation systems and general engineering industries. Its operations support manufacturers requiring processed steel for the production of finished goods and industrial components.

The company operates four manufacturing facilities located in Wada and Bhiwandi in Maharashtra, Ghiloth in Rajasthan and Sri City in Andhra Pradesh. These facilities are equipped with processing lines for slitting, cut-to-length operations, shearing and embossing.

As of June 30, 2026, the company reported an installed processing capacity of 1,23,153 metric tonnes per annum on the stated annualised basis. Its manufacturing operations are supported by material handling, quality control and processing infrastructure.

Since 2021, Bombay Coated and Special Steels has maintained an authorised service partnership with JSW Steel Coated Products Limited and/or its holding company. This arrangement forms part of its steel sourcing and processing operations.

The company's customer base includes manufacturers such as Haier Appliances India, IFB Refrigeration, Dixon Electro Manufacturing, Amber Enterprises India and Western Refrigeration.

Alongside steel processing, Bombay Coated and Special Steels provides logistics, inventory management and just-in-time delivery services. These services support customers that require processed steel products according to manufacturing schedules and production requirements.

For FY26, the company reported revenue from operations of ₹1,266.82 crore, compared with ₹1,055.71 crore in FY25. Profit after tax increased to ₹30.54 crore from ₹28.67 crore during the corresponding period.

The company's IPO comprised entirely a fresh issue, with proceeds intended primarily for debt repayment, equipment acquisition and general corporate purposes. Its listing on NSE and BSE provides a public trading platform for Bombay Coated and Special Steels equity shares following the completion of its ₹183.06 crore initial public offering.