MUMBAI, 30 SEPTEMBER, 2025 (GPN/ SACHIN MURDESHWAR 📞8108510506)— Bombay Coated & Special Steels, a Mumbai-based steel processing company, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an Initial Public Offering (IPO).

According to the draft filing, the proposed IPO will be a fresh issue of up to 15 million equity shares with a face value of Rs.10 each. The offering will follow the book-building process, with up to 50% of the issue reserved for Qualified Institutional Buyers (QIBs), at least 35% for Retail Individual Investors (RIIs), and not less than 15% for Non-Institutional Investors (NIIs).

Founded in 2019, Bombay Coated & Special Steels operates as a steel processing centre, converting steel coils into processed products such as slit coils, blanks, and sheets. These products cater to a range of industries, including home and commercial appliances, pharmaceuticals, engineering, automotive components, and electrical equipment.

The company runs four manufacturing facilities in Bhiwandi, Wada, Ghiloth, and Sricity, covering over 42,000 square meters. All plants are ISO 9001:2015 certified, and the Ghiloth facility has been recognized as a GEM 4-certified green facility. Its current installed capacity stands at 350,411 tonnes per year.

Bombay Coated & Special Steels reported revenue from operations of Rs.1,055.7 crore in FY25, up from Rs. 590.8 crore in FY23. Net profit during the same period rose to Rs.28.6 crore from Rs.15.6 crore.

The company sources steel coils primarily from JSW Steel Coated Products Limited, with which it has been an authorized service partner since 2021. Smart Horizon Capital Advisors is acting as the book-running lead manager for the IPO, while KFin Technologies is the registrar. Four Bridge Capital has also supported the company through its DRHP filing process.