Bombay Coated And Special Steels IPO Day 3: Subscribed 60.77x; NII Demand at 158.32x
Key Highlights
Bombay Coated And Special Steels IPO (₹136 crore mainboard IPO) was subscribed 60.77x on Day 3 of 3, with NII at 158.32x.
Last updated: Mon, Nov 2, 2026, 10:30 PM IST · mainboard · & · Day 3 of 3
- Bombay Coated And Special Steels IPO subscribed 60.77x overall on Day 3, up from 3.78x on Day 2
- Total bids: 1,00,47,44,468 shares against 1,65,33,012 shares on offer
- Category-wise: 35.50x, 158.32x, 33.73x
- Price band: ₹78 to ₹82 per share
- The issue closes on Mon, Nov 2, 2026
The Bombay Coated And Special Steels IPO concluded its third and final day of bidding with an overall subscription multiple of 60.77x as of 10:30 PM IST on November 2, 2026. The issue saw a significant increase in interest compared to the 3.78x subscription recorded on the second day. The non-institutional investors (NII) category, which includes individuals bidding above ₹2 lakh, emerged as the most-bid segment with a subscription of 158.32x.
Bombay Coated And Special Steels IPO Status: Day 3
Day-wise subscription
| Day | Date | Total bids (shares) | Bid value at upper band (₹ crore) | Subscribed (x) |
|---|---|---|---|---|
| Day 2 | Fri, Oct 30, 2026 | 6,25,74,512 | 513.11 | 3.78x |
| Day 3 | Mon, Nov 2, 2026 | 1,00,47,44,468 | 8,238.90 | 60.77x |
Category-wise subscription
| Category | Shares offered | Day 2 bids | Day 2 (x) | Day 3 bids | Day 3 (x) |
|---|---|---|---|---|---|
| QIB | 47,98,588 | 3,14,55,424 | 6.56x | 17,03,30,524 | 35.50x |
| NII | 35,20,327 | 63,46,340 | 1.80x | 55,73,33,868 | 158.32x |
| of which individual NII | — | 59,99,994 | — | 53,83,50,176 | — |
| of which corporate NII | — | 1,34,134 | — | 34,10,134 | — |
| of which other NII | — | 2,12,212 | — | 1,55,73,558 | — |
| Retail | 82,14,097 | 2,47,72,748 | 3.02x | 27,70,80,076 | 33.73x |
| Total | 1,65,33,012 | 6,25,74,512 | 3.78x | 1,00,47,44,468 | 60.77x |
All investor categories subscribed to their respective quotas by the end of the third day. The NII category led the demand with 158.32x, while qualified institutional buyers (QIB) and retail investors recorded 35.50x and 33.73x respectively. The total number of bids reached 1,00,47,44,468 shares against 1,65,33,012 shares offered, reflecting a broad-based increase in participation across all segments on the final day of the issue.
Bombay Coated And Special Steels IPO Offer Details
| Field | Value |
|---|---|
| IPO date | Thu, Oct 29, 2026 to Mon, Nov 2, 2026 |
| Listing date | To be announced |
| Face value | ₹10 per share |
| Price band | ₹78 to ₹82 per share |
| Lot size | 182 shares |
| Total issue size | 1,65,33,012 shares (₹136 crore) |
| Listing at | NSE & BSE |
| Lead managers | Smart Horizon Capital Advisors Pvt Ltd. |
| K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.) |
About Bombay Coated And Special Steels
Bombay Coated And Special Steels Ltd. operates as a multi-location steel processing centre. As per the DRHP, the company processes steel coils into products like slit coils and blanks through slitting, cut-to-length, shearing, and embossing. It serves original equipment manufacturers and original design manufacturers in the home and commercial appliances and general engineering sectors. The firm provides customized steel solutions for products such as air conditioners, refrigeration, and automotive components. Its promoters hold four decades of experience in the steel trading and processing industry.
Bombay Coated And Special Steels Financial Highlights
| Metric | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| from operations (₹ crore) | 1,266.82 | 1,055.71 | 755.26 |
| Total income (₹ crore) | 1,269.83 | 1,058.65 | 765.41 |
| Profit after tax (₹ crore) | 30.54 | 28.67 | 21.14 |
| Net worth (₹ crore) | 121.58 | 83.05 | 54.36 |
| Total borrowings (₹ crore) | 273.28 | 227.44 | 184.14 |
Revenue from operations grew from ₹1,055.71 crore in FY 2024-25 to ₹1,266.82 crore in FY 2025-26. Profit after tax increased from ₹28.67 crore in FY 2024-25 to ₹30.54 crore in FY 2025-26. The company reported a debt-to-equity ratio of 2.25x at the end of FY 2025-26.
Objects of the Issue
| Purpose | Amount (₹ crore) |
|---|---|
| Repayment/pre-payment in full or in part, of certain borrowings | 125.00 |
| Financing the cost towards acquisition of capital equipment | 15.77 |
Risk Factors as per the DRHP
- The company faces significant customer concentration risk, as the top 10 customers contributed 73.54% of its total revenue as of June 30, 2026.
- Operations are highly dependent on a single supplier, JSWSCPL, which provided 85.13% of the company’s steel coils for the period ended June 30, 2026.
How to Check Bombay Coated And Special Steels IPO Subscription Status
Live bidding figures are published by NSE & BSE while the issue is open. Once it closes, allotment status is published by the registrar, K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.) (www.kfintech.com).
This article is for information only and is not investment advice. Subscription figures are based on exchange data as of Mon, Nov 2, 2026, 10:30 PM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.