Desai & Diwanji, Fox & Mandal act on Bombay Coated & Special Steels ₹185 crore IPO

Bombay Coated & Special Steels Limited has raised ₹185 crore from an initial public offering of equity shares comprised entirely of a fresh issue.

Desai & Diwanji advised Bombay Coated & Special Steels on this IPO, according to the red herring prospectus.

Fox & Mandal advised Smart Horizon Capital Advisors Private Limited, the book running lead manager on this IPO.

The transaction team consisted of Prashaant Vikram Rajput (Partner), Rudresh Mandal (Principal Associate), Shrinwantu Choudhury (Associate), and Saumy Bhowmick (Associate).

Bombay Coated & Special Steels is a steel processing center that converts raw steel coils into value-added, customer-specified products.

The offering received an overall subscription of 63.89 times, with the non-institutional investor (NII) category subscribed 166.44 times, the qualified institutional buyer (QIB) category (excluding anchor investors) subscribed 37.32 times, and the retail category subscribed 35.46 times.

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