Bombay Coated and Special Steels launches IPO, seeks ₹183.06cr
Business
Bombay Coated and Special Steels is rolling out its IPO on October 29, aiming to raise ₹183.06 crore through fresh shares.
The offer closes November 2, with the anchor book opening a day earlier.
Interestingly, the issue size was trimmed down from the earlier plan of ₹191 crore.
Bombay Coated to repay ₹125cr debt
Most of the funds will help pay off ₹125 crore in company debt, while ₹15.7 crore is set aside to acquire capital equipment under existing lease arrangements with Siemens Financial Services. The rest goes toward general business needs.
Promoted by Vijaykumar Himatrai Gupta, the company posted a profit of ₹15 crore on revenue of ₹397 crore for the three months ended June 2026, with annual profits and revenues both growing steadily.