New Delhi, Oct 29 (PTI) The initial public offering of Bombay Coated and Special Steels Ltd was fully subscribed on the first day of bidding on Thursday.

     The Rs 183.1-crore initial public offering (IPO) received bids for 4,41,95,060 shares against 1,65,33,012 shares on offer, leading to an overall subscription of 2.67 times, as per the NSE data.

     The portion for Qualified Institutional Buyers (QIBs) was subscribed 6.55 times, while the quota for retail investors received 1.24 times subscription. The non-institutional investors segment was booked 72 per cent.

     Bombay Coated and Special Steels Ltd (BCSSL) raised Rs 54.1 crore from anchor investors on Wednesday.

     The company's IPO will conclude on November 2, with a price band of Rs 78-82 per share.

     The IPO is entirely a fresh issue of equity shares, with the company aiming to raise Rs 183.1 crore.

     Of the proceeds, Rs 125 crore has been earmarked for repayment or prepayment of certain borrowings, while Rs 15.7 crore will be used to finance the cost of acquiring capital equipment under existing lease arrangements with Siemens Financial Services. The remaining amount will be utilised for general corporate purposes.

     Incorporated in 2019, BCSSL is a steel processing centre that converts steel coils into value-added products through operations such as slitting, cut-to-length processing, shearing and embossing.

     The company serves original equipment manufacturers and original design manufacturers across sectors, including consumer durables, home appliances, automotive, electrical equipment and infrastructure.

     It operates manufacturing facilities in Maharashtra, Rajasthan and Sri City in Andhra Pradesh.

     On the financial front, the company's net profit stood at Rs 30.5 crore and revenue from operations at Rs 1,266.8 crore in FY26. For the three months ended June 30, 2026, it reported revenue from operations of Rs 397 crore and net profit of Rs 15 crore.

     Smart Horizon Capital Advisors is the sole book-running lead manager, while KFin Technologies is the registrar to the issue.

(This story has not been edited by THE WEEK and is auto-generated from PTI)
Disclaimer: Comments posted here are the sole responsibility of the user and do not reflect the views of THE WEEK. Obscene or offensive remarks against any person, religion, community or nation are punishable under IT rules and may invite legal action.